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Author Topic: Monte Carlo Auction  (Read 13266 times)
skolsuper
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« on: December 13, 2011, 06:02:52 PM »

I've decided to try something a bit different with the upcoming Monte Carlo £1k event in DTD. The way I see it, the two main problems with staking threads as they currently run are: 1. people getting flamed on the price and 2. threads selling out and people not being able to buy. I think it's possible to eliminate both these problems, and hopefully not cause any side effect problems, by running each thread like an ebay auction. It should be pretty simple but might take some explaining so bear with me:

I am selling 30% of my gross prize money in the DTD Monte Carlo in December, buyin £1090. I will be playing Day 1B only.
Everyone who is interested in buying a piece make a bid for a certain percentage with the maximum price they would be prepared to pay for that piece. e.g. pleno 5% @ 1.2
All the bids are arranged in descending order by price* and the top 30 percentiles** at 9pm tomorrow (Wednesday) night win the auction.
Every winner pays the price of the lowest winning bid.

*In the event of a tie, the bid made first chronologically will take precedence
**This may involve one person receiving only part of the percentage that they bid for.

This way, I'm not setting a price for people to flame and nobody misses out at a price they would be prepared to pay. Seemingly price-insensitive buyers like tikay can go ahead and bid something like 1.5 and let the more shrewd punters such as trigg et al settle on a price, so hopefully everybody's happy. However, this may scupper pleno's current angle of posting "sasfdsgasddfsadff" on every thread as soon as it sells out so apologies in advance for that.

Other notes:
You can make as many bids as you like, e.g. if you would buy 10% at 1.1 but only 5% at 1.2, you can make 2 bids, 5@1.1 and 5@1.2, if the strike price finishes 1.1 or below you will have 10%, between 1.1 and 1.2 you will get 5% and over 1.2 you won't buy any.
Bids will be ranked by up to 2 decimal places, i.e. 1.333 will be considered the same as 1.33 and ranked chronologically
Bids are binding and cannot be withdrawn, I am ending the auction on Weds to give me plenty of time to chase everyone up for payment before the event. edit re:withdrawals: You don't need to withdraw an old bid to make another one, any losing bids are moot anyway.
To prevent any <0.5 shenanigans, the starting price will be 1.0

Obviously going out into the unknown a little bit here but online auctions have been around a while so hopefully should run pretty smooth. In the event of some unforeseen dispute arising the referee's* decision will be final.

*me

======================================

Current standings:


neeko: 5% @ 1.52
pleno1: 1% @ 1.5
milligan84: 5% @ 1.5
Girgy85: 5% @ 1.5
FUN4FRASER: 20%@ 1.5

SuuPRlim: 19% @ 1.48
neeko: 5% @ 1.47
SuuPRlim: 19% @ 1.42
FUN4FRASER: 25% @ 1.41
T Mar: 10% @ 1.4
Girgy85: 5% @ 1.4
SuuPRlim: 14% @ 1.35
tikay: 30% @ 1.35
redarmi: 10% @ 1.33
Royal Flush: 30% @ 1.31
cambridgealex: 10% @ 1.3
claypole: 10% @1.26
Girgy85: 15% @ 1.25
Simon Galloway: 10% @ 1.25
action man: 30% @ 1.22
paulhouk03: 5% @ 1.21
Girgy85: 15% @ 1.21
action man: 15% @ 1.2
Girgy85: 29% @ 1.11
NigDawg: 29% @ 1.1
Girgy85: 5% @ 1.1
Woodsey: 10% @ 1.0


Current strike price: 1.42, 10% = £154.78
« Last Edit: December 15, 2011, 12:34:03 PM by skolsuper » Logged
Woodsey
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« Reply #1 on: December 13, 2011, 06:04:23 PM »

10% @ 1.0
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action man
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« Reply #2 on: December 13, 2011, 06:08:59 PM »

15% @ 1.2
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Raman
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« Reply #3 on: December 13, 2011, 06:13:06 PM »

Really like this idea and interested to see how it develops. 

I think this could change staking as its known just now. 

Unfortunately atm with Christmas on the horizon and running like death elsewhere I am not investing but could be interested in this in future.

Good luck with it.
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paulhouk03
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« Reply #4 on: December 13, 2011, 06:16:50 PM »

rest @ 0.8 Smiley

sigh read op Sad
« Last Edit: December 13, 2011, 06:19:16 PM by paulhouk03 » Logged

Just me
Girgy85
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« Reply #5 on: December 13, 2011, 06:18:37 PM »

rest @ 0.8 Smiley

[  ] Paul Ho fully reads another OP
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Best poster Girgy IMO - Mantis

Girgy is my new hero! - Evilpie

Think Girgy has shown the best leopard instincts in this thread and would prob survive best in the wild. Eye of the tiger that fella - Mantis

Girgy is a m'fkn machine - Daveshoelace
paulhouk03
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« Reply #6 on: December 13, 2011, 06:20:52 PM »

5 @1.21
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TightEnd
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« Reply #7 on: December 13, 2011, 06:23:52 PM »

Very good idea, innovative

Good luck
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NigDawG
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« Reply #8 on: December 13, 2011, 06:25:13 PM »

29% @ 1.1
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Christopher Brammer
Girgy85
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« Reply #9 on: December 13, 2011, 06:30:34 PM »

5% @ 1.1
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Best poster Girgy IMO - Mantis

Girgy is my new hero! - Evilpie

Think Girgy has shown the best leopard instincts in this thread and would prob survive best in the wild. Eye of the tiger that fella - Mantis

Girgy is a m'fkn machine - Daveshoelace
skolsuper
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« Reply #10 on: December 13, 2011, 06:32:53 PM »

5% @ 1.1

[ ] Girgy fully reads another OP

As your bid came after brammer's only 1% would go even if nobody bid higher. As it is, this bid is a non-event.
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Girgy85
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« Reply #11 on: December 13, 2011, 06:34:16 PM »

5% @ 1.1

[ ] Girgy fully reads another OP

As your bid came after brammer's only 1% would go even if nobody bid higher. As it is, this bid is a non-event.

29% @ 1.11
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Best poster Girgy IMO - Mantis

Girgy is my new hero! - Evilpie

Think Girgy has shown the best leopard instincts in this thread and would prob survive best in the wild. Eye of the tiger that fella - Mantis

Girgy is a m'fkn machine - Daveshoelace
Dubai
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« Reply #12 on: December 13, 2011, 06:34:44 PM »

lol have none of u any idea whats going on?

At the moment Trigg qualifies for 15% @1.2, Ho 5% @ 1.21 and Brammer 10% @1.1- so Brammer typing 29% was obv impossible and Girgy cant win
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Dubai
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« Reply #13 on: December 13, 2011, 06:35:24 PM »

5% @ 1.1

[ ] Girgy fully reads another OP

As your bid came after brammer's only 1% would go even if nobody bid higher. As it is, this bid is a non-event.

29% @ 1.11

u can only win 10% @1.11!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! as 20% has been bid above
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Girgy85
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« Reply #14 on: December 13, 2011, 06:39:00 PM »

15% @ 1.21
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Best poster Girgy IMO - Mantis

Girgy is my new hero! - Evilpie

Think Girgy has shown the best leopard instincts in this thread and would prob survive best in the wild. Eye of the tiger that fella - Mantis

Girgy is a m'fkn machine - Daveshoelace
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