How to Settle an Auction

What is auction settling, and why is it necessary?

Jonathan Perkins avatar
Written by Jonathan Perkins
Updated over a week ago

When an artwork is auctioned on SuperRare, the NFT is custodied by the SuperRare Auction House smart contract, meaning it is no longer in the ETH wallet of the seller (and it is not yet in the wallet of the buyer, of course).

As the auction runs, the ETH of the highest bid is also held in the Auction House.

When the auction is complete, there is only one thing left to do, which is to "settle" the auction, releasing the ETH to the seller and the artwork NFT to the buyer.

This action can be taken by either party at anytime, but we recommend doing it right away.

To settle an auction in which you have participated, go to your Dashboard and click "Settle Auction" for that artwork.

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