Monte Carlo Auction

[tikay]

This is excellent, though not so much "tikay pays any price, but shrewder punters are more discerning", marv.

In fact, if I don't like the price, I don't argue or quibble, I just don't buy. At least, that's my excuse......

What I DO like about this is that it gets away from "first come, first served".

I'm actually keen to invest in this, too, but I need to get my head round tactical bidding, etc, so will think how best to do so during the evening. (And hope nobody deliberately disrupts the natural pricing scheme).

What happens if a bidder does not follow through with his/her investment, or fails to pay in a timely manner - does the Auction recommence, is that % alone freed up?

If anyone can advise me on how best to invest on this basis, how to pitch a price which is a balance between investment value, & ensuring I get a piece, I'd love to hear from them. (Dubai, or James himself, for example).

Thanks, & nice one James. I imagine even the shrewder punters will say that, too.....

[tikay]

For avoidance of doubt, I'd happily pay 1.2%+ for Mr K, but how to tactically bid is where I need the mentoring/help.

[Woodsey]

For avoidance of doubt, I'd happily pay 1.2%+ for Mr K, but how to tactically bid is where I need the mentoring/help.

Put in the highest bid imo, that will probably work  

[Raman]

I really don't think anyone can offer you advice on this Tikay as its subjective.

Its like a wiseman once said I sell at the highest price I think people will pay.

So what your willing to pay may be more than say me.  

I think the key to this is set yourself a budget for a certain % and just go for it.  If the bidding was closed then there may be more tactical way of doing things.

[tikay]

Thank you, but clearly, I'm not explaining myself very well here.......

[skolsuper]

This is excellent, though not so much "tikay pays any price, but shrewder punters are more discerning", marv.

In fact, if I don't like the price, I don't argue or quibble, I just don't buy. At least, that's my excuse......

What I DO like about this is that it gets away from "first come, first served".

I'm actually keen to invest in this, too, but I need to get my head round tactical bidding, etc, so will think how best to do so during the evening. (And hope nobody deliberately disrupts the natural pricing scheme).

What happens if a bidder does not follow through with his/her investment, or fails to pay in a timely manner - does the Auction recommence, is that % alone freed up?

If anyone can advise me on how best to invest on this basis, how to pitch a price which is a balance between investment value, & ensuring I get a piece, I'd love to herar from them. (Dubai, or James himself, for example).

Thanks, & nice one James. I imagine even the shrewder punters will say that, too.....

Cheers tikay. FWIW I would prefer it if there weren't any 'tactics' or strategic bids etc involved cos it would probably just mean a ton more admin for me. What I would prefer is that if people would just think what percentage they would like and at what price they would consider it to be no longer value and make that bid. Possibly they could also make a smaller bid to ensure they get more if it ends up "going cheap". Probably tactically the best line is to make these bids at the last second. Also for next time I might see if it works better with closed bidding, however this time I thought it would be better if everything was in the open.

RE: non payers, I can't see how there could be any dispute over who bid what and when so it should be pretty plain who owes money. The auction is only 24hrs long and only 3 days before the tournament so I doubt anyone's circumstances will change that drastically over the course of the auction that they can genuinely no longer afford something that they could genuinely afford when they bid. If they don't pay it I'll offer their piece up to the next highest bidder (at their bid price) and the welcher won't get a piece and their bids won't be accepted in future auctions. I don't see why anyone would intentionally make false bids (except me I guess, but the min 300 posts rule makes this awkward).

[RED-DOG]

Clearly, I'm not explaining myself very well here.......

Obviously the best, if not the most convenient tactic is to wait until the last minute and then bid just a little more than your nearest rival if that is still within your price range.

[skolsuper]

Is this stake for Friday?

If the answer is yes and you get knocked out on Friday will you re-enter on Saturday on your own dime?

The stake is for Saturday. Re-entries make things awkward and more expensive

[Dubai]

The thing is its not exactly ever gonna be amazingly cheap or amazingly expensive anyway, he has already set the price to be above 1.0- and u can assume it wont go above 1.7 so its always gonna be between 1.0-1.7 which is right anyway

The more interesting auctions are when someone has a big stack going into day 4/5 of WSOP main event. Because the true value of the share is a lot harder to judge

[tikay]

Thanks James, Tom, the penny has now dropped.

[Free_Rollin]

30% @1.25

hahah sucker

Trigg owns thread.

Nice idea Keys. Good luck.

[tikay]

The thing is its not exactly ever gonna be amazingly cheap or amazingly expensive anyway, he has already set the price to be above 1.0- and u can assume it wont go above 1.7 so its always gonna be between 1.0-1.7 which is right anyway

The more interesting auctions are when someone has a big stack going into day 4/5 of WSOP main event. Because the true value of the share is a lot harder to judge

Thanks Mr S.

I've been thinking about the scenario in your second para for some time now, sort of "trading in-running", though such opportunities (in poker staking) are thin on the ground.

[Dubai]

Well it makes sense in the main event when ur stacked up going into day 3, have to change flights home etc and still not guaranteed to cash.. well known blonde who dont post anymore posting selling shares on 2+2 in this scenario

[RED-DOG]

I used to go to auctions where 'Rings' operated. If you weren't in, you were out.


Usually, rings show up at auctions where many like items are for sale. The group, comprising a loose knit but well-organized group, agrees ahead of time not to bid competitively against one another. Each member of the group decides to buy certain lots of items and to be the sole bidder on different portions of the inventory.

After the auction, the group meets with a list of what they bought. They then hold another auction among themselves, selling the newly acquired property. The difference between what the ring paid for each item at the first auction and what a member of the group bids for it at the secondary auction is divided proportionally.

[Raman]

Well it makes sense in the main event when ur stacked up going into day 3, have to change flights home etc and still not guaranteed to cash.. well known blonde who dont post anymore posting selling shares on 2+2 in this scenario

Link to this please to have a look?