Buy Offers
Understand Buy Offer rules, eligibility, and cancellation on ArbiPegs.
Last updated
Understand Buy Offer rules, eligibility, and cancellation on ArbiPegs.
Last updated
A Buy Offer is an offer sent from buyers who are willing to buy an NFT with a price. It’s not mandatory, receivers or sellers can accept it, reject it, or just ignore it. Therefore it’s recommended to investigate the market average price before making your offer. The higher the price you set, the higher the chance that the seller may accept your offer.
Buy offers can be sent to 2 kinds of NFTs:
Fixed Price Listings
Unlisted NFTs
NFTs that are being auctioned can’t accept or receive buy offers. If the NFT to which you sent a buy offer before goes into an auction sale, the seller won’t be able to accept or reject your offer, so you need to place a bid.
Buy offers can be canceled anytime before being accepted.
Buy offers can be set with an expiration time. The offer will be canceled once the time is up.
If the NFT for sale is moving away from its owner’s address, or sold to someone else, the buy offer will remain valid. Its new owner can still accept the buy offer.
ArbiPegs takes a fixed 5% market fee.
Depending on the royalty settings, there may be an extra royalty fee taken from the payment by the collection owner.
The first step before making a buy offer is to find the NFT you really want. There are several ways to find the Make Offer button. Through the Token page, Explore, or Collections page. Click and you will see a popup where you can fill in the offer price and expiration date. Make sure you do have the amount of $ARB tokens that you are willing to offer, and gas fees in your wallet.
For both your listed and unlisted NFTs, other ones may send you buy offers. A Buy Offer is like a query asking if you want to sell the NFT at that price. If you accept it, then the sale will be done immediately, your NFT sent to others and you receive the payment. You could also reject a buy offer if you are not very interested in it.
At the bottom of your token page or NFT page, you'll find two tabs: 'History' and 'Offers.' When you click on 'Offers,' you'll gain access to a comprehensive list of all the buy offers currently being made for the NFT displayed on the token page you are currently viewing. This feature allows you to conveniently review and consider the offers made by other users, giving you the option to accept or reject them based on your preferences.
