> For the complete documentation index, see [llms.txt](https://readfiofficial.gitbook.io/readfi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://readfiofficial.gitbook.io/readfi/system/marketplace.md).

# Marketplace

The ReadFi NFT market is divided into two sectors: trading & auction.

Trading sector: Seller places an order to sell at a fixed price & buyer buys at this price

Auction sector: Each bidder needs to bid 10% more than the previous bidder, and the previous bidder who was out will receive a 20% commission on the premium

**E.g.:**

Mr. C posted a ReadFi NFT on the ReadFi NFT auction market with a starting price of 100 USDT.

Mr.A makes the first bid with the starting price of 100 USDT. Mr.B makes a second bid, and his bid should be 10% higher than Mr.A’s bid, so bid iMr.B’s: 100 + 100\*10% = 110 USDT.

In the event that the auction ends or there is no further bid, the transfer of assets between Mr. C, Mr.A and Mr.B is as follows:

Mr.A: Get extra 2 USDT

Mr.B: Pay 110 USDT get ReadFi NFT from Mr. C

Mr.C: Lose ReadFi NFT & Gain (110-2)-(110-2)\*3%=104.76 USDT (ReadFi Market charges 3% service fee)

ReadFi Market: (110-2)\*3%=3.24 USDT

**ReadFi Market Service Fee Allocation**

90% will be sent to community vault

10% will to go the team