# Auction

![](https://3874348249-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MHgsPwMJc_LGS3bBxzQ%2F-MIluqQKZaTptBIwsN6K%2F-MIlxCFtas99kpvbqXsN%2Fimage.png?alt=media\&token=222a342e-d390-420f-a3be-dde21cf175af)

## Auction Rules

* The auctioned items are bid with ETH.
* The NFT is won by the highest bidder.
* For each auction, the starting countdown clock is set to 24 hours.
* When there is less than 1 hour on the countdown clock, a new bid will increase the countdown clock by 10 minutes while the countdown clock is capped at 1 hour.
* The starting bid of each auctioned NFT is 1 ETH. If one bid is won, the next bidder needs to bid 10% more of the previous winning bid. A 10% price difference is created in such way, where 20% of the price difference is distributed to previous winning bidder, and 80% is distributed to the Auction System Reserve.

![](https://3874348249-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MHgsPwMJc_LGS3bBxzQ%2F-MImmvPi_2L6-SEog4on%2F-MIrJjR6TgVlDY_yh4T-%2Fimage.png?alt=media\&token=12746974-d54f-49cf-a764-408019867d34)

* 5% of Auction System Reserve will become DEGO NFT fund, 95% of Auction System Reserve will be injected into Reward Pool under Gego Module.