At Royalty Exchange, we’re always looking for ways to enhance your experience as an investor. Thanks to your valuable feedback, we’ve developed an exciting new feature called “Accepting Final Offers” (AFO) that’s now live on select listings on the platform.
This feature addresses a common pain point we’ve heard from you: missing out on assets you wanted to bid on or feeling like you could have paid more to secure a catalog. With Accepting Final Offers, you’ll never have to worry about that again.
Here’s everything you need to know about this feature, how it works, and why it’s a significant improvement for investors like you.
What Is Accepting Final Offers?
Accepting Final Offers is a 24-hour auction that begins when a seller accepts an initial offer or an investor makes an offer at the list price. During this time:
- Investors who previously made offers on the asset and All Access Investor Subscribers can place additional bids.
- The highest bid at the end of the 24-hour period wins the asset.
- If a new bid is placed within the final five minutes of the auction, the timer resets to give all participants an additional five minutes to bid.
Why It Matters:
This ensures every investor gets a fair chance to place their best offer. You’ll know exactly when a listing is about to sell and have time to act, eliminating any last-minute surprises or regrets.
How Accepting Final Offers Benefits Investors
1. Never Miss Out on a Catalog
Previously, sellers could accept an offer without warning, leaving other interested investors unable to compete. Now, every investor has a final chance to bid during the AFO period.
Example:
If you place an offer before AFO begins, you’ll be notified when the seller accepts a higher offer. You’ll have 24 hours to place a higher bid, ensuring you’re not sidelined.
2. A Clear Endgame for Listings
Assets marked as “Accepting Final Offers” will include a countdown timer and appear in a new “Ending Soon” section on the marketplace. This keeps you informed about which assets are about to sell so you can prioritize your bids.
3. Fair and Transparent Bidding
The AFO process removes ambiguity by clearly showing when an auction will close and giving all participants an equal opportunity to bid. Even in the final moments, you’ll have time to act if a new offer is placed.
How the Feature Works: Step-by-Step
1. A Seller Accepts an Initial Offer:
Once a seller accepts an offer or an investor confirms an offer at list price, the listing transitions into the AFO stage, starting a 24-hour auction.
2. Eligible Investors Are Notified:
If you previously made an offer on the listing, you’ll receive an email notification with the current price and time remaining.
If you’re an All Access Investor, you’ll also be eligible to bid during this stage even if you didn't make an offer on it previously.
3. Place Your Final Bids:
During the 24-hour period, you can place new bids above the initial accepted offer. You can also place new proxy bids higher than the accepted offer or any existing bid. There are no counteroffers during this bidding period.
4. Time Extensions for Late Bids:
If a bid is placed in the final five minutes, the auction timer resets to five minutes. This ensures no “sniping” occurs, and everyone has a fair shot to respond and get their final bids in. The timer will continue to reset to five minutes for each bid placed under five minutes until no further bids are placed under this threshold.
5. Auction Closes:
At the end of the 24 hours (or after the timer runs out following any extensions), the highest bidder wins the asset.
6. Notifications to Winning and Losing Bidders:
The winning bidder is notified via email and can proceed to closing. Other participants, All Access Investors, and investors who were following the asset are informed that the listing has sold as well.
New Platform Features Supporting Accepting Final Offers
To make this feature seamless, we’ve introduced new functionality on the Royalty Exchange platform:
- Ending Soon Section: A dedicated section highlighting assets in the final stages of AFO. This will appear in the open listings section of the Royalty Exchange marketplace at the top of the page ensuring that all investors viewing listings are aware of those that are about to close.
- Countdown Timers: Every AFO listing displays the current price and time remaining. You will also see a vertical line in the price tracker portion of a listing page marking where the AFO stage began and displaying all bids placed after the transition to this stage for the particular listing you're viewing.
- Email Notifications: Tailored updates ensure you’re always informed:
- When an asset enters AFO.
- If you’ve been outbid during the AFO stage.
- When there are only 3 hours remaining.
- When you’ve won the asset and when the asset has closed.
Why This Feature Is a Game-Changer for Investors
- Addresses Common Frustrations:
- You won’t miss out on an asset because a seller accepted an offer before you had time to bid.
- Encourages Competitive Bidding:
- The clear timeline and notifications focus investor attention, ensuring you can place your best offer confidently.
- Maximizes Asset Value:
- While sellers benefit from better price discovery, investors gain confidence knowing they’ve competed fairly.
FAQs About Accepting Final Offers
Q: What happens if no one bids during the AFO period?
A: If no additional bids are placed, the investor whose offer initiated the AFO stage wins the asset.
Q: Can new investors participate in the AFO stage?
A: No, only investors who previously made offers on the asset or All Access Investor Subscribers are eligible to bid during this stage.
Q: What happens if multiple bids are placed in the final minutes?
A: Each new bid resets the timer to five minutes, ensuring everyone has time to respond.
Q: How will I know if I’ve been outbid?
A: You’ll receive an email notification immediately if someone places a higher bid during the AFO stage.
How to Get Started
- Explore the Marketplace:
Browse active listings and identify assets you want to bid on. - Set Alerts:
Follow listings you’re interested in to receive updates when they enter the AFO stage. - Become an All Access Investor:
Unlock eligibility to bid on any asset during the AFO stage, even if you didn’t bid before. - Place Your Bids:
Participate confidently, knowing you’ll have the opportunity to make your best offer.
Conclusion: A Smarter Way to Invest
Accepting Final Offers is designed with you in mind—providing clarity, fairness, and competitive opportunities. By addressing common frustrations, this feature ensures you never miss out on securing the music royalties you want.
Start exploring the marketplace today and experience the benefits of Accepting Final Offers firsthand.
