In this guide, I am going to show you how to make a private sale on Opensea. Why would you want to do this you may ask? Well, you might want to sell an NFT to your friend at a discount and not have someone snipe it on the open market, but there are also other benefits to this. Did you know that if you make a private sale on Opensea you don’t have to pay the fees, which can in some cases amount up to 12.5% (10% for the artist and 2.5% for Opensea).
This means if you are selling and NFT for 10Eth, you may only actually receive 8.85Eth. Now, I am not overly keen on the artists missing out on their secondary cut because I do think they deserve the follow-on fees but I don’t mind Opensea missing out.
Unfortunately, many people don’t do this because they don’t know how, but it’s really simple and I’m going to show you how in a few easy steps.
Step1: Head over to your profile in Opensea and click on the NFT you want to sell.
Step 2: Click Sell in the top right-hand corner. If your NFT is already up for sale you will have to delist before initiating a private sale:
Step 3: Select Set Price as your sell method. Enter the Price you wish to sell for, and finally, check the Privacy toggle and enter the address of the buyer.
Step 4: Double-check the details and click Post your listing
Step 5: You will now see 2 popups, one from Opensea informing you of the process of listing, and one from Metamask asking you to sign a transaction to confirm the listing (this should be free).
Check the transaction in Metamask and click Sign
Step 6: That is all there is to do. Your buyer can now visit the item on Opensea and they will see the following message at the top of their screen.
Note: As of 6th September 2021 Opensea has now started applying charges to private sales too. This includes Opensea’s cut and the Artist commission.
Thanks Matthew Fiorello for the heads up