Spot auction rules
Version 1.2, in force from
- A bid holds money, it doesn't charge
- Only the leading bid is held; outslapped, it's released at once.
- Beat the top by 5% or $10
- Whichever is more. You pay what you bid. No auto-bidding.
- Closes Sunday 20:00 UTC
- A bid in the last 5 minutes adds 5 more, up to 2 hours past the close.
- Bidding opens a day after the close
- So no hold sits on your card for more than a week.
- The winner is charged at the close
- And holds the spot for the week after it.
- No maximum bid
- The only ceiling is the most Stripe will take in one payment, $999,999. Bid what you mean to pay: if you win, you pay it.
A summary. The text below is what applies.
The spots
Each spot is a weekly auction, opening at $500 / $250 / $100. A bid is a hold on your card for that amount, not a charge. You're charged only if yours is the top bid when the auction closes (Sunday 20:00 UTC, later if a late bid extends it). If someone outslaps you, your hold is released at once and you're never charged. How fast a released hold disappears from your statement is up to your bank.
There's no maximum bid. The only ceiling is the most Stripe will take in one payment, $999,999. Bid what you mean to pay: if you win, you pay it.
The winner's sticker holds the spot for the week after the close. Nobody can buy it out in between, so the week isn't refunded once it starts, unless we take the sticker down — then we refund the days it wasn't up.
