LACED is an exciting new auction to win rare sneakers below retail! Before you can take part in an auction you need to purchase bids or a Bid Packs. Bids are currently 50 to 75 cents each (Save even more with subscriptions). Auctions Start at the date and time above the description. Each bid placed raises the items price by $0.01 (cent) The auction clock restarts every time someone places a bids. The clock can start anywhere between 5-10 seconds. If no new bids are placed before the clock runs out, the last bidder wins. When you win, you only pay the winning price and your bids are returned to your account.