# Auctions

## Setup an Auction

Users are able to setup english style auctions for any inscriptions they own. To setup an auction follow these steps:

1. Navigate to "My Inscriptions"
2. Click the drop down arrow on the inscription you want to auction
3. Click "Auction"
4. Input the duration and starting bid amount
5. Click "Confirm"

Once an auction has begun it cannot be cancelled. If the min bid amount is not met the item will not be transferred out of the owners wallet. Assuming the minimum bid amount was reached the item will be automatically sold the the highest bidder at the end of the auction duration.

## Place a bid

At this time all auctions are open to the public to bid. When you place a bid on an auction the bid amount of ckBTC will be locked in your wallet. Locked ckBTC cannot be transferred or used to place other bids, it will be unlocked if outbid or the auction ends.
