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How do I make an auction?

Updated 3 months ago

At WhalesHeaven we are constantly working to find the simplest and easiest way for our users to create an auction. After you’ve created your account, all you need to do is follow these simple steps:

1.  After logging in, navigate to the "I am selling" button on top of the page.

 2. You will be directed to the auction creation page where you will be able to list both the currency and amount that you want to sell:

2.1 You can then select the currency that you’re looking to trade for in exchange:

2.2 You will also be required to set your auction duration in the Offer available for section. This duration will determine the length of time for which your auction will be listed on our platform for buyers to participate in.

2.3 At the bottom of the page, you will be able to select whether you want an "instant buy" or "bids starting at" percentage, or both.

Instant buy: This percentage will determine your instant buy-in price that the buyers can directly buy for without bidding. The final rate will be locked once the buyer clicks the buy-out button and this percentage will be either added or deducted from the coinmarketcap.com rate at that moment you create your auction.
Bids starting: This percentage will determine the auction starting price that your buyers can bid on. This percentage increases every time a user bids on your auction. The final rate will be locked once the auction is finished and this percentage will be added or deducted from the coinmarketcap.com rate at that moment.


2.4 Finally, on the same page you can add an optional auction description with the “personalize your offer” button, where you can explain to the buyers why you want to sell your auction for a higher/lower price. This is optional.

3. Once you have satisfied all the required options and clicked the preview button, a page will appear asking for the wallet address in which you would like to receive your transaction. You need to input your desired receiving address and confirm with your WhalesHeaven password.

4. Once your payment is confirmed, you will need to top up your auction. You can see more about how to top up your auction in our FAQ.

5. After you have topped-up your auction, a message confirming that it has been sent to the blockchain will pop up. We will then start scanning the blockchain to verify that the correct amount has been sent.

6. Once the scan is finished, you will be directed to a page confirming that you have topped-up your auction.

7. After you have selected to go back to the auction page, you will be directed to a new page where it shows a preview of your auction. Here you will see how your buyers or bidders will see your offer.

8. In case you would like to modify anything in your auction, you have the option to do so at this moment or even later, before anyone bids on it. You can do this by pressing the edit button at the bottom of the page or by entering the auctions section.

8.1 If you press the edit button before publishing your auction, you will be returned to the screen where you can modify the auction details.

8.2 If you click on the auctions section, you will be able to see this page, which you have to select in the section drafts to look for your auction if you haven't published it, or under running if you have already published one.

9. If you are satisfied with your auction preview, you can press the "Publish auction" button at the bottom of the screen.

9.1 A small message will appear, asking you to confirm that you want to publish.

10. After you confirm that you want to publish your auction, a small message will appear showing that you are the owner of that auction and will also show a preview of how other users will see your offer.

11. If you would like to monitor your auctions, select the auctions option in your menu.

12. Here, your auctions will be displayed. You can see any Draft auctions, any Running (active) auctions, as well as any finished auctions.

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