Dutch Auction and English Auction

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There are two methods to run actions on OpenSea. Dutch auction and the English auction. In the video, I use my collection to show and compare the Dutch auction and English Auction to run auctions with these two different kinds of auctions.

However, I prefer a Dutch auction because it’s easier to start when you choose a Dutch auction, you can run for a long period and decrease the list price, and it will be more flexible. Dutch auction, another term on OpenSea is “Sell with declining price” you can adjust and lower your auction price until the item has sold. When you choose Dutch auction, by default on OpenSea, you will get ETH after the NFT has sold.

If you wish to set up the reserve price and you can accept WETH, you can choose “Sell to the highest bidder” ( English Auction ) When you choose the English Auction, you will pay the gas fees for the bidders if you use this method.

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