Auction Manager *
The AuctionManager facilitates English auction logic on Highlight auctions. It supports English auctions for individual tokens, with a reserve price, a time window, and an extension feature if bids are placed within the last 5 minutes. The auctions be held for existing or yet-to-be-minted tokens. If the reserve bid isn’t made on an unminted token auction, the token is never minted, meaning the auction can be removed in the future without any trace of the token on chain.
Note that with AuctionManager, the first bid on unminted tokens is more expensive than following bids, as it will officially kick off the auction and mint the NFT into escrow.
Although you can use AuctionManager to auction your own existing tokens, note that auctions via the AuctionManager are not technically supported at this moment through the Highlight UI. Reach out to gm@highlight.xyz if you want to auction an existing token through the Highlight auction pages and we can get that setup for you under the hood.
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