# Auctions

<figure><img src="https://3737230276-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FLSj2qVEeJkYKzq8LFl8s%2Fuploads%2FU2lSFQwwOfHy1neQ94l2%2F6212117_copia%20(1).webp?alt=media&#x26;token=43277fb7-f73b-4acb-aae5-a57075d532f1" alt=""><figcaption><p>Bonesville Auction House</p></figcaption></figure>

**How it works:**

* **$GRVE** will be used for auctions
* To create an auction, a **100 $GRVE burning fee** must be paid
* The auction has a time limit and an initial bidding price and you can choose the minimum bid increment. (*The minimum bid must equal the current bid plus the minimum bid increment*)
* If no users participate in the auction, the creator may request the return of the NFT (*The burning fee is not refunded*)
* If there are valid bids, when the auction expires, the creator can take the **$GRVE** of the winning bid; the winner of the auction can claim the NFT; those who bid without winning can take back their previous bids
* If a user places two bids because the previous bid was outbid, the **$GRVE** to be deposited will be equal to the value of the new bid minus the previous bid (*$GRVE already deposited*)

<figure><img src="https://3737230276-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FLSj2qVEeJkYKzq8LFl8s%2Fuploads%2F9PbWxw5Mk8dQLYPwRYt9%2FScreenshot%202023-11-23%20alle%2017.45.20.png?alt=media&#x26;token=ae73a78f-ee69-4244-ace8-b37b719bec4f" alt=""><figcaption></figcaption></figure>

**Happy bidding!**


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