A) Auctions must have an end date or time with GMT (I.E. 25/Dec or 24 hours after last valid bid), minimum (starting) bid, and raise.
.....I) You may also set an optional autobuy for your auction.
.....II) The minimum raise for all auctions must be at least 10TC.
B) If you withdraw a winning bid at the end of the auction you must pay the auctioneer 20% of that bid.
I) Furthermore, once you place a bid in an auction, it cannot be edited or cancelled under any circumstances.