Hello everyone! Splinterlands co-founder @aggroed recently announced a new site to auction Splinterlands assets. It's called AHONEX, short for Auction House ONline EXchange. The site quickly gained popularity and has recently marked a milestone of having completed fifty auctions.

---

The Auction House for Splinterlands Assets

The site can be accessed through https://ahonex.com/. Players can log-in using their Hive Keychain.

Once logged in, you can already browse the auction or list your own Splinterlands assets for auction.

---

Browsing the Auction

By browsing the auction you can find some cards that you may want to bid on. Here is a Yodin Zaku, one of the most sought after summoners in the Untamed set of cards. The current bid is 5,000 DEC ending in one day and eight hours. You can place your bid if you want the card but you have to check for higher bidders from time to time as well.

---

Listing Your Cards

You can put your cards up for auction. The site will already search your collection and you can choose which you would like to list. You can set the starting price, reserve price, buy now price and the auction duration. There is a small listing fee of 250 DEC and 5% Sales fee.

Starting price

Bidding starts at 0 unless you will set a starting price. I set mine at 5,000 DEC so the minimum bid price is 5,000 DEC.

Reserve price

Set the minimum acceptable winning bid. If below this price, then the item will be returned.

Buy now price

Set a price in which buyers can immediately purchase the item. The auction immediately ends when the buyer pays this price.

---

Why Use an Auction

While Splinterlands already has an in-game market to trade cards, the price discovery in the market is not that efficient. An ultra-rare card that a lot of people will want to have maybe listed but the price may not be appetizing for buyers. For example, there is a Black Foil Arcane card listed for $100,000 in the market. While this is indeed a desirable card, buyers may not be willing to part ways with their $100,000 for a card.

On the other hand, sellers may also undervalue their cards and list it underpriced. An auction allows the buyers to set a price they are willing to pay for an item and thus make trading more efficient. It may even drive the price as multiple bidders will compete for cards. AHONEX is another project that will provide a platform for players and investors alike to trade Splinterlands cards and thus benefitting the game as well.

---