There are 2 types of auctions on Mintable, Auctions, and Auctions with Buy Now.
All auctions work on a fixed time frame where they are open to bids.
During this time you can bid on the item and others can outbid you.
You can only bid on the item - once the bidding is over the winner will be notified.
Auction with Buy now
These are two options - bidding or buy now. If you choose to buy via the buy now price - the item will be sold and the bidding will stop. You will instantly get the item for the buy now price.
Anytime a bid comes in within the last hour of any auction - the time will be extended by 15 minutes.
All bids are final and cannot be cancelled. Once you place a bid your forming an agreement between you and the seller that you will pay if you win. You will have 3 days to pay after the auction has ended. Please see the section below.
You can now see the bidding history of your auction.
Paying for auctions
Paying for auctions is very simple. The winner of the auction if notified via email that they won - and are provided information on how to make a payment.
Payments must be made within 3 days of winning the auction - payments can be made inside your profile under "Listings" -> "Won Auctions".
If the buyer does not pay for an auction - the seller can choose to mark the item as not paid and then the buyer will have a black mark added to their account and their ability to place bids in the future will be limited.