AuctionHouse is a protocol for marketplaces to implement a decentralized sales contract. It is simple, fast and very cheap. AuctionHouse is a Solana Program available on Mainnet Beta and Devnet. Anyone can create an AuctionHouse and accept any SPL token they wish.
The AuctionHouse Solana Program resides within the Metaplex Program Library here:
The AuctionHouse CLI resides in the Metaplex Monorepo here:
Let's dive into AuctionHouse's main features.
AuctionHouse is Not the same from our Storefront Auction system.
For the NFT Seller the NFT doesn't leave their wallet until the sale completes. This is due to the use of Solana Token Delegates, and it allows them to list their NFT on other Marketplaces that implement the AuctionHouse protocol. The AuctionHouse program is the delegate, so whichever marketplace has a matching bid can execute the sale, and they get their fee, the buyer gets the NFT and the seller gets the money. This is all done in the execution of the sale. The buyer and seller never need to claim anything like in our other auction system.
AuctionHouse Authority Features
When you create an AuctionHouse a new
Instance of an AuctionHouse is made. This
Instance is owned and oprated by an
Meaning the Public Key you set in the
authority section of the
CreateAuctionHouse instruction is the
Authority that can update the auction house. Metaplex uses this
Authority pattern in many contracts to create
Access Control on certain features and functions. When you create an auction house, you can set the following parameters:
- Treasury Withdraw Destination - The wallet that receives the AuctionHouse fees.
- Fee Withdraw Destination - A wallet that is used to pay for Solana fees for the seller and buyer if the marketplace choses to execute the sale in the background.
- Seller Fee Basis Points - The share of the sale the auction house takes on all NFTs.
- Requires Sign Off - The auction house must sign all sales orders.
- Can Change Sale Price - If the buyer intentionally lists their NFT for a price of 0 the Auction House can change the sale price to match a matching Bid that is greater than 0. This allows the Auction house to do complicated order matching to find the best price for the seller.
- Treasury Mint - The SPL token you accept as the purchase currency
Can Change Sale Price is only intended to be used with AuctionHouses that
Requires Sign Off
Requires Sign Off Feature
This feature allows a marketplace to restrict what NFTs get sold on their platform at the chain level. It is useful for mor centralized marketplaces or a marketplace that has order matching algorithms that the user has allowed them to use by listing their NFT for 0 price. Marketplaces who want to stay decentralized and not require signoff may still restrict what their user interfaces show even though behind the scenes someone can list an nft on your Auction House. You may in this scenario build Allow Lists with merkeles or chose to restrict what your UI shows behind the scenes.
Any SPL Token
AuctionHouse allows you to accept any SPL token as the tender that the buyer deposits into their Buyer Escrow in order to acomplish a sale.
Now that you know what the AuctionHouse is see Getting Started