Texas Auction

The type of auction that is most closely tied to real time.

The participant can see:

  • All bids;
  • Price (value+minimal step) with which a participant can agree.

Participant can:

  • Agree with the current price;
  • Offer an own price bid higher than the previous one by at least 2 bid steps.

Features of the auction:

  • The round lasts for an unlimited period of time;
  • The round ends and the new one begins if any participant bets in 3 minutes;
  • If there is no action within 3 minutes after the start of any round, the auction ends;
  • The auction does not have a specified number of rounds.
Texas Auction

The winner is:

  • No one if any bet was not made at the first round;
  • The participant who was the last to make a bid.