What is a VIP Auction?

What is a VIP Auction?

For each offering (or auction), SongVest holds a non-binding VIP ("Verify Interest of Participation") Auction with potential investors. It is referred to as a "Test The Waters" auction under Tier 2 of Regulation A of the Securities Act and the offering circular.  

 

To price the interests in the offering of royalty share units, SongVest facilitates a non-binding VIP or  “Test The Waters” auction with potential investors.The unique bidding process is how potential investors collectively set the final price per unit for an offering. Registered fans can start bids at a minimum of $20 per royalty share unit with no commitment to buy. 

 

Bidders can reserve SongShares with an option to purchase them during the official VIP Sale held after SEC qualification of the offering. During the auction, participants will bid on SongShares, until all have been reserved, and the price will increase by $1. You will need to watch your bids to confirm your priority and that you do not get outbid before the auction ends!


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    • What Happens if I Win a VIP Auction?

      If you have a successful bid at the end of the VIP Auction, you will have the option to purchase those SongShares during the VIP Sale before the general public, and after the offering qualified by the SEC.   You may purchase up to as many royalty ...

    • What happens at the close of a VIP Auction?

      SongVest uses the Five Minute Rule for auctions, whereby if a bid is placed in the final five minutes of an auction the listing will stay open for an additional five minutes. There is no limit to the number of times an auction can be extended. Soso ...

    • How do VIP Auctions work?

      During the VIP Auction period, participants can make non-binding bids on a fractional share of the royalty stream. The number of royalty share units available will vary for each auction. Once all units have sold out at a certain price, it will ...

    • What happens during a VIP Sale or a Public Sale?

      After a VIP Auction is complete, participants who had a winning bid at the close will have the first opportunity to buy their SongShares at the price set during a VIP Sale. These bidders can purchase UP TO the number of shares they had as part of ...

    • How quickly can I sell my royalties?

      Once we have your previous years’ royalty statements, we can usually conduct an auction in as few as 30 days.