This research aimed to find out the concept of price in Islamic perspective and the procedure or mechanism of warranty goods auction conducted by PT. BPRS Madina Mandiri Sejahtera and to examine the appropriateness of warranty goods auction conducted in accordance with the Fatwa of National Sharia Board (DSN) Number 68/DSN-MUI/III/2008. This research was conducted using field research method in qualitative descriptive approach. The data collection techniques used in this research were observation, interview, and documentation. This research also used several data analysis techniques including data reduction, data presentation, and conclusing drawing. The result of this research showed that first, the concept of price setting in the warranty goods auction at PT. BPRS Madina Mandiri Sejahtera has implemented a fair method. Second, the implementation of auction procedure and mechanism conducted at PT. BPRS Madina Mandiri Sejahtera has been in accordance with the Standard Operating Procedure (SOP). Third, the overall implementation of warranty goods auction conducted by PT. BPRS Madina Mandiri Sejahtera has fulfilled the requirements stated in the Fatwa of National Sharia Board (DSN) Number 68/DSN-MUI/III/2008 on rahn tasjily even though the detailed appropriate sharia auction procedure is not discussed in details in the Fatwa mentioned.