Buying at auction

When a borrower doesn't repay a loan from the MLKY Pool, their card goes to auction. Anyone with a Solana wallet and USDC can buy it on the Auctions page in the app.

How the price moves

The price starts at the card's value and falls steadily, usually over 24 hours, until it reaches a floor it won't go below. There's no bidding against other buyers and no second round, because the first buyer to accept the current price gets the card. Waiting gets you a lower price, but it also gives someone else the chance to buy first.

What you pay

The price on the page is the total you pay. It includes a buyer's premium, today 5% of the price, which the page shows before you buy.

What you get

The tokenized card arrives in your wallet in the same step as your payment. The physical slab stays in the vault of the company that tokenized it, and if you want it shipped, you arrange that with them.

If anything goes wrong during the purchase, nothing is taken from you and the auction just carries on.

Other ways an auction ends

The borrower can stop the auction and keep their card by repaying at any time before someone buys it. And if nobody buys by the end, the auction closes and we take the card into our care.

Before you buy

Check the card yourself: its grade, its cert and its recent sales. The starting price comes from our valuation, which is an estimate and not advice to buy.