anon-real
commented
3 years ago So you mean the artist shouldn't be forced to place the initial bid. So he only chooses a minimum bid and bids must be bigger than that without him actually putting that amount for starting the auction, right?
Add a Reserve Price, which would not force the artist to sell under the reserve price. For the moment an artist that want to sell for a minimum price has to bid himself on the artwork and pay a 2% fee on this "reserve price", and also block his funds for the duration of the auction. If the reserve price is not attained, the artwork is not sold and goes back to the artist. It seems a very important feature to have to attract good artists that don't want to sell the artwork under a given price, and even more at the beginning, as the Auction House has still to prove it can reach good prices for its artists. "Pick a reserve price, set a duration, and whoever puts in the highest bid will win the item as long as it’s above your reserve."