You want to enter a fixed first-price auction for inventory across exchanges within Display & Video 360. You're the highest bidder at $10. What will you pay for the impressions?

In a fixed first-price auction, the pricing logic is straightforward: the highest bidder pays exactly what they bid, regardless of the second-highest bid or any historical price floors. Unlike a second-price auction—where the winner might pay only a cent more than the runner-up—first-price auctions are designed for transparency and efficiency across modern exchanges within Display & Video 360. Therefore, if your bid of $10.00 is the highest in the auction, you will pay exactly $10.00 for those impressions, as there is no reduction applied to the winning clearing price.