> For the complete documentation index, see [llms.txt](https://docs.bounce.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.bounce.finance/bounce-auction-mechanisms/fixed-price-auction.md).

# Fixed-Price Auction

#### What is a fixed-price auction? <a href="#what-is-a-fixed-swap-auction" id="what-is-a-fixed-swap-auction"></a>

A fixed-price auction is a type of auction where the price for the assets being auctioned is pre-determined and agreed upon by the auctioneer and participants. This type of auction is typically used when the auctioneer has a specific value target for the assets being sold. It operates on a **first-come, first-serve** basis. In addition, these auctions are time-contingent and automatically executed, meaning that assets are swapped at the agreed upon time. Bounce Finance offers fixed-price auctions for both ERC20 tokens and BEP20 based assets. Furthermore, Bounce V3 offers a feature called "regret functionality," which allows participants to participate and withdraw from an auction at any time during the auction process.

#### Supported Assets

1. Token
2. NFT
3. Real-World Collectible
4. Ad Space