Albion's Land Auction System Revealed

During ArcheAge's surges in popularity, I often hear players say that the land rush is extremely unfair. Bots and high-level players will buy land the moment it comes on the market. Getting a plot could require the utmost of dedication and an itchy trigger finger. Today, Sandbox Interactive revealed Albion Online's land auction system, intended to fight exactly that.

All plots are leased and a land auction begins a week before the end of the current lease. When the auction begins, players will enter the maximum amount that they are willing to spend on that plot. To give the owner a leg up, being the current owner, their bids will count for double what they are willing to pay. For the first six days, anyone who has bid may increase their bid freely. On the seventh day of the auction, only the current owner may increase their bid, so as to not be "sniped at the last second," as they put it.

The goals with this system were to give newer players a chance at "owning a desirable building space." It is also meant to "[encourage] a more fluid market" and introduce "economic PvP."

What do you think of this system?