Auctions on Fabrica happen for one reason: a loan on the property defaulted, and the property is being sold at a public auction to repay it. Regular listings are never auctions. If you see an Auction card on a property page, this is what is going on and how to bid.
What you are bidding on
The property is real land held in its own trust, the same as any other Fabrica property. The winning bidder becomes the owner: the token transfers to you, and with it the trust and the recorded deed. The auction proceeds pay off the defaulted loan, and anything above the debt and costs goes back to the previous owner.
How bidding works
On the property page, find the Auction card. It shows the Current Bid (or "Awaiting first bid") and a countdown clock. The clock starts with the first bid. Properties in auction also show the current bid and "Ends in" with the time left on their cards on the homepage.
Click Place Bid. If you're not logged in, the button reads Sign in to Place a Bid. Bids are in USDC, a stablecoin (a digital dollar), so you need enough USDC in your account; without any, the card says "You need to have USDC available in your account to bid at a live auction."
The Place a bid window opens. Enter your bid. Each bid must be at least 2% above the current one; the app shows you the minimum ("Minimum bid is $X"). The window lists Your bid, the Current bid, Auction ends in and Your balance, and explains that your bid amount is taken from your account right away and held: if you win, the property transfers to you when the auction ends; if someone outbids you, the amount is returned to your account. Tick the box ("I understand this bid is binding and $X is held from my account right away.") and click Place Bid.
The app walks you through Allow the bid amount and Place your bid. When you see "Great news: your bid is in!", your bid is placed. The card lists each bid under Recent Bids as a short sentence with the bidder's name and amount, and while yours is the highest it says "Your bid is currently winning".
If you don't hold USDC, message us through the chat bubble before you plan to bid and we will help you get your account funded. Do this early: once bidding starts, the clock doesn't wait for a bank transfer.
How long the auction runs depends on the lending pool behind the loan: legacy pools ran 24-hour auctions, and newer pools run 2-week auctions. The countdown on the Auction card shows the time remaining. When the clock runs out, the highest bidder wins and becomes the owner. There is no Fabrica fee for bidding or winning an auction.
Two honest notes
The current owner remains the owner until the auction closes. When it closes, the winning bidder becomes the new owner. The former owner can keep the property only by being the winning bidder, so you may see the owner bidding in their own auction.
Auction sales are final. Do your homework on the property before you bid, the same as any purchase: read the records, look at the Property checks, and see "How do I verify a property before buying?" in this collection.
If you get stuck, message us through the chat bubble in the corner.
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