The Coldie Method™

The Coldie Method™

What it is and what it isn’t.

There was a time in crypto art where there was no rules. There weren’t many collectors. For the most part we were getting along just fine, making art and selling it to the highest bidder.

At a certain point, it was not enough to just pick the person who had the current high bid, as there were now several collectors making bids. Instead of just randomly stopping the bidding process, I decided to experiment with creating my own auction standard.

I wanted to create an even playing field for all bidders. Given this is a worldwide marketplace, I wanted equal access so everyone has ample opportunity to place bids, no matter what time zone they live in.

What is The Coldie Method™?

Coldie Method™ The highest bid over the reserve price must stand for 24 hours before the auction ends. For each new bid that exceeds the previous bid the clock resets to 24 hours.

Coldie Method™ modified: Once the reserve price is met, a 24-hour auction is started. Any bids placed in the last 10 minutes before time expires, 10 more minutes are added to the timer.

Why did I do this?

Over the years being in crypto art and NFTs, I have seen many situations that did not end as well as hoped, for the crypto artist as well as the collector. I have very basic, straightforward rules to the auction. This way there is no confusion about the terms.

24 hours give all collectors equal opportunity to bid on my art and I think that is important in this new era of art we are helping to usher in.