How to Sell an NFT Privately

Last Updated October 18, 2021
Luci Goodman
Luci Goodman

Whether you want to sell your NFT to a friend or someone who reached out to you on social media, you can set up a private sale on OpenSea. This means that only the person with the private key you input will be able to purchase the asset for that price. This will work on any type of NFT, whether it is a PNG image, GIF, or video. 

Until September 2021, many collectors used this feature to avoid paying transaction and royalty fees. The platform has since updated its procedures due to many people misusing the feature. Fees will now need to be paid on every NFT sale. 

This tutorial will give you step-by-step instructions on how to make a private sale on OpenSea so that you can be selective on who purchases your assets.

How to Create a Private Sale on OpenSea

To sell an NFT privately on OpenSea, you will need to complete the following instructions: 

Step 1: Visit OpenSea.io and log in to your account on the top-right-hand side of the screen. 

Step 2: Find the NFT you want to sell in your collection and click the blue “sell” button. If your NFT was already listed on the market, you will need to delist it first. 

Step 3: You will be redirected to a page where you can set up the sale. Choose the “Set Price” method, then enter the price of ether (ETH) that you want to receive for your asset. 

Step 4: Click the toggle key on “More Options” then click “Reserve for specific buyer”.

Step 5: If you haven’t already, ask the buyer for their MetaMask wallet information (if they don’t use the browser extension, they may give you another wallet address that is compatible with OpenSea). Copy the address, then paste it in the required field that appeared when you clicked the “Privacy” toggle.

Step 6: Look at the Summary to ensure that all information is correct. You will also be able to see the fees you’ll need to pay (both to OpenSea and to the original artist).

Step 7: Click the blue “Post Your Listing” button. 

Step 8: You should see two pop-up boxes appear. The first will be from OpenSea to confirm your listing and the second will be from MetaMask to sign the transaction. Once you sign the transaction, your NFT will be privately listed. 

Step 9: Let the buyer know that you have set up the NFT for private sale. They will be able to login and see your listing. There should be a notice above it stating, “This listing is reserved for you!” Once they purchase it, you can finalize the transaction. 

Frequently Asked Questions 

Can You Create Private Sales on Other Marketplaces?

While you won’t be able to sell your non-fungible tokens through private sales on all marketplaces, there are still ways that you can transfer your digital assets to a specific person for a different price. 

Most platforms (such as SuperRare, Rarible, and Nifty Gateway) allow people to bid their desired amount of cryptocurrency instead of buying at a fixed price. The seller can then choose to sell their NFT art to that buyer, even if other bids are in play. 

Do You Pay Fees on Private Sales?

In the past, selling NFTs privately on OpenSea was a good way of avoiding fees on the secondary market. In September 2021, however, the NFT platform started collecting their fee as well as paying artist royalties on all private sales of digital art. 

Can You Sell NFTs Without Paying Marketplace Fees? 

There is currently no way to sell or sell your own NFTs without paying fees to the NFT marketplaces. These fees may include both transaction fees and artist royalties. You will also need to pay separate gas fees to transfer the smart contract using blockchain technology. 

Do You Need to Pay Gas Fees When You Buy NFTs? 

Whenever you make a transaction on the blockchain network, you will need to pay gas fees. The fees will vary throughout the day, so many collectors wait for the right moment to buy and sell their crypto assets. 

That being said, you can mint new NFTs without gas fees on Mintable. The first NFT must be completely original and not available elsewhere. 

What Type of NFTs Can You Privately Sell? 

You will be able to sell any NFT on OpenSea privately through this method. This will include all file types and categories (domain name, video game pieces, valuable trading cards, etc). Both ERC-721 and ERC-1155 files can be sold in this way on the Ethereum blockchain.