| This advertisement spot is auctioned off to the highest bidder everyday. MTV holds auctions up to 30 days in advance for this spot. Bids are made in increments of 10% or $1 (whichever is greater). Losing bids are returned 101% of their original bid instantly! For example…
If John bids $10 for the ad spot for next Monday
One hour later…
Mary palces a bid of $11 for the same day as John
John instantly receives $10.10 to his account balance
All auctions end 24 hours before the day they go on display. However, if a bid is placed during the last 5 minutes of an auction, the auction does not close until 5 minutes after the last placed bid. This means that the auction can go on indefinitely, but it is extremely unlikely that it will be extended for more than a few hours due to the minimum bid increment of 10% |