It is possible to create your own land auctions for individually owned parcels on the Second Life mainland.
The parcel must be owned by an individual resident and the parcel must be on the mainland. Group owned parcels and parcels on private islands cannot be auctioned. Your parcel must also be marked Show in Search (see Place Pages for more information). Auctions can only be created by the parcel owner, and the owner must have a verified email address.
- Go to https://places.secondlife.com/ and click on My Places in the menu bar.
- Select a parcel to be auctioned and click Visit. This takes you to the Place Page for that parcel.
- Click the Auction This Parcel button in the left column.
This takes you to the form to schedule the auction for this parcel. There are four fields, all required:
- Start Time: The time when the auction will begin, in Pacific Time
- Close Time: The time when the auction will end, in Pacific Time
- Starting Bid: The minimum bid required for the first bidder, in Linden dollars (L$)
Bid Increment: The increment by which bids must be increased (for example, if the current bid is 500 and the bid increment is 10, then the next bid must be at least 510).
Note: These fields are populated with default values, but you are free to adjust them.
The following limitations apply:
- Start Time: Must be in the future, but cannot be scheduled more than four weeks in the future.
- Close Time: Must be at least 48 hours after the start time but auctions can last no more than one week.
- Starting Bid: The default starting bid is L$0.50 per parcel square meter, but you can change it to whatever you like.
- Bid Increment: The default bid increment is 10. Bid increment must be set in multiples of 10, and the maximum increment is 100.
- When you have set the desired values, click the Create Auction button. Your parcel then appears in the Scheduled Auctions list until the start time, and the Place Page indicates that an auction has been scheduled. After the start time, your parcel appears in the Open Auctions list and the bidding box appears on your parcel's Place Page.
When you create the auction, the ownership of the parcel is transferred to a temporary holding account named AuctionServices Linden. You will no longer be listed as the owner. You will not be able to edit, cut, sell, or change the parcel in any way once you create the auction. If you cancel the auction, or if the auction completes without any bids, then the ownership of the parcel returns to you.
At any time before the auction begins, you can change the scheduled times and bid amounts. When the auction has been scheduled but not started, a Re-Schedule This Auction button appears on the place page for the parcel owner. Clicking this button takes you back to the schedule form, where you can change any of the previously set values.
You may cancel an auction at any time before it starts. You can also cancel an auction that has already begun as long as there are no bids. Simply click the Cancel This Auction button on the Place Page and then confirm cancellation on the next page. When you cancel the auction, the ownership of the parcel reverts back to you.
When the Close Time arrives, the auction is completed automatically. You receive an email notification that the auction has been completed, but no action is required on your part.
Ownership of the parcel is transferred to the auction winner, and the winning bid amount (minus a 15% commission) is transferred to your account.
If the auction closes without having received any bids, the ownership of the parcel is transferred back to you from Auction Services.