State auction on an ownerless business
State auction is the moment when The State ownerless holding Not just run at the fixed land price, but publicly sells to the highest bidder. By default it opens about every day a new auction (with a little arbitrariness around that rhythm, so not at a tight predictable moment), and each auction itself runs for 24 hours so there is almost continuously a state company under the hammer. The system automatically selects one state company from the pool and opens the bid: Anyone can bid, and whoever's at the top of the line at the time the clock ends wins the company. It is the fastest, fairest way to get to a first (or extra) company without having to wait on the marketplace until a player sells.
How a state auction works
- Go. The system automatically selects, by default, about once a day, one ownerless company from the pool and puts the clock on the auction page (the auction itself subsequently runs 24 hours).
- Offer. Any player may bid as long as the clock runs. Each new bid must be at least a small percentage higher than the previous one (the minimum bid is live on the page, rounded to hundreds). If you're outbid, you get your money back right away. You're never at risk for an offer that doesn't win.
- Close. As soon as the clock ends, the highest bid wins. The company goes directly to the winner, including the existing stock and state. If an offer comes in just before the end, then the auction will automatically be extended for a few minutes so a final second bid can always be countered.
- No one bid? Then the auction goes without winner and the company simply remains under management of The State Until the next round.
Tip: The auction page shows a live counter, the current highest bid and the full bidding history... keep an eye on it around the end, as the most exciting bids usually come in the last few minutes (also thanks to the automatic renewal of a late bid).
The starting price
Each auction starts at a start price That standard is therefore not an arbitrary amount at half the normal purchase value of that business type, but a realistic starting point that scales along with how valuable the business type is normal. From there, the bidding contest itself determines how high the final price is.
Why bid along is worth it
Buying a company through the marketplace can only be done if a player puts one for sale and that does not always happen when you are looking. The state auction is guaranteed regular: In any case, a new company will be available approximately every day, in a fair bidding battle where everyone has equal opportunities. For novice entrepreneurs, it is often the fastest way to a first passive income source; for established players an opportunity to expand their portfolio without waiting for a seller.
See previous auctions again
On the auction page you can also see the history of previous auctions: Which company, who won, and for what amount. This gives you a sense of what business types average and allows you to match your own bid accordingly.
Frequently asked questions
How often is there a state auction?
By default it opens about every day a new auction, with a bit of randomness around that rhythm (not exactly 24 hours on the head). Each auction itself runs for 24 hours, so there is almost continuously an active auction. You can always see the next start time (indicative) on the auction page.
What happens if I'm outbid?
Your money will come right back to your account. You're not running any risk by offering along with it only the winning bid is actually written off.
What if nobody offers?
Then the auction goes without a winner and the company simply remains under the control of The State, at the fixed land price, until the next auction round.
Can I also win a state auction through the marketplace?
No, these are two separate ways to get a company. The market place is for companies that put players for sale; the State auction is exclusive to ownerless companies auctioned by the State.
Do I get the company immediately if I win?
Yes. As soon as the clock ends, the company, including existing stock, will immediately switch to your name.
Keep an eye on the auction clock. Play for free And drag into your first state company.