Draft pending legal review (owner decision P-14). This text is not final until counsel has reviewed it.
Auction terms
How weekly placement bids work: minimum, holds, closing time, capture, failed captures and refunds.
1. Minimum bid
The minimum bid is $10.00. Bids are made in whole cents, and the highest accepted bid is $100,000.00.
2. Holds
When you bid, Stripe places a hold on your card for the amount of your bid. A hold is not a charge. A hold is captured only if your bid wins a placement, and it is released otherwise.
3. Closing time
Bidding for a placement week closes at 12:00 UTC on the Sunday before that week begins. A bid received at or after the close is refused.
4. Top five capture
When bidding closes, the five highest bids win the placements for that week. Each winning bid is captured, which charges the card on hold.
5. Failed capture
If a winning bid cannot be captured, the next highest bidder moves up into that placement.
6. Refunds
- If a pitch is removed during its placement week, the placement is refunded in full.
- If a pitch is unpublished, there is no refund.
Status of these terms
These rules are the operating summary of the auction. The contractual wording, dispute process and any other terms are pending legal review.