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4. How do auctions work?

Auction basics 
Silver fraud prevention system 

There were several changes to the auction house with the introduction of T4.2:   

  • When you start an auction, it is not immediately visible to you, but instead appears under the Auction Sell tab after a random period of time.
  • The time remaining on your item up for sale is no longer visible to you; the only information you get is that the auction is running.
  • All players can see and bid on all auctions - yes, that means you could very well be bidding on your own item without realizing it.
  • You are no longer able to see how many times someone has bid on your item, or what the current bid on that item is; instead it only shows “?”.  That information will become visible to you after the auction is finished and the item has been sold.
  • You may only cancel your auction within the first five minutes, and then only if no one has bid upon your item.
  • Except for artworks, consumables can only be placed on the auction in predetermined package amounts.
    • Tablets of law, ointments, scrolls, and cages may only be sold in sets of 5, 10, 30, or 50 items.
    • Large and small bandages may only be sold in groups of 2, 10, 25, 50, 100, or 250, multiplied by the server speed per package.

An auction does not work like buying/selling in the marketplace. Therefore, we want to introduce you the system behind it.

You have to imagine it as follows:

An item is on the market and it currently costs 100 Silver. Player 1 thinks the item would be worth 1000 Silver - so he give a maximum bid of 1000 Silver. Shown as highest bid is 101 Silver since no one beside player 1 bid more until now.

Now player 2 comes along and sees that the item is sold for 101 Silver (at least he thinks so). So, he thinks the item would be worth 500 Silver and bids this amount. Now he gets the error message "you got outbid".

This is no bug and the other user isn't using a bot or anything similar. It is just how the auctions work. This "game" continues until player 2 bids 1001 Silver. At this point, he placed the highest bid and is also shown as highest bidder.

I created an example for you to show you what I mean. I have chosen the following auction:

auctions


Place my first bid:

auctions


And got outbid:

auctions


Now I placed a higher bid and was the highest bidder:

auctions

 

One of the unfortunate side effects of the auction house is the selling of silver from one player to another.  A "silver fraud" detection system was put into play, which prevents players from bidding more than what the system determines is a "fair market value" for the item.  Players who "overbid" on an item will have their bids rejected by the system, without player notification of the overbid.  It is possible that for some low-value items, the maximum bid accepted may be only a few silver pieces over the current high bid.

You can read more about the silver fraud detection system here.


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