Demiplane Auction

A Demiplane Auction is an event where lost and/or unclaimed Bags of Holding, Magical Haversacks, Portable Holes, and other similar magical objects that contain demiplanes with indeterminate contents are auctioned off to the highest bidder. 

History

Magical items that are linked to demiplanes have always been sought after throughout all of Tellandrian history, but it wasn't until the Age of Colonization that the resources to create magical items in great quantity made auctioning off demiplane items possible. As taverns, inns, and city guards began accumulating demiplane-capable magical items that had been left behind or confiscated, they came up with the idea of selling them off for profit.

The first Demiplane Auctions were held in the major port city of Vecos, but quickly spread to other metropolitan centers around the world. 

Execution

When Demiplane Auctions first began, they were held within city limits in major urban centers. However, following The Great Freeze of Vecos, where a Reinforced Bag of Holding was opened and an Ice Elemental escaped into the Canals of Vecos, freezing various canals of the city for weeks until it could be captured, most Demiplane Auctions were moved out of major cities and into countrysides where the potential risks posed by the demiplanes were limited. 

Bag of Holding by Wizards of the Coast