Monte Carlo Auction

[JaffaCake]

Like the innovation James, hope it works for u

[Simon Galloway]

Nice idea, but I think it would work much better as a closed auction.  It would prevent the last minute tactical gubbins which you seem to want to not encourage (altho obv in terms of maxing the price, it doesn't hurt)

10% @ 1.25 pls

[George2Loose]

what happens when flushy types "rest"?

[mulhuzz]

nice idea. i'll have a think about the best price for me as well

assume you accept all usual pmt methods?

[smashedagain]

Wp James, supply and demand our kid.  I  see a few guys getting 2.0 (admittedly this is from muggles) and they don't have  10% as much ability as you. Gl

[claypole]

I love this - good work. 10% at 1.26

[skolsuper]

I love this - good work. 10% at 1.26

Ty Shaun, have updated the OP to reflect how things stand as of this post.

nice idea. i'll have a think about the best price for me as well

assume you accept all usual pmt methods?

Yeah anything normal.

what happens when flushy types "rest"?

nothing

Nice idea, but I think it would work much better as a closed auction.  It would prevent the last minute tactical gubbins which you seem to want to not encourage (altho obv in terms of maxing the price, it doesn't hurt)

10% @ 1.25 pls

Yeah just think while it's (relatively) new it'd be better if everyone can see how it all works and that I'm doing everything up front, next one might be closed bids tho.

[cambridgealex]

I think Keith's done really well to come up with this idea and should be given some credit in OP imo.

10% @ 1.3

[Royal Flush]

what happens when flushy types "rest"?

nothing

mvls, i dont know what i have to do to buy a share but will take the lot at 1.31 i think thats right?

[neeko]

superb innovation - going for a single high bid, but given only 30% is up for sale it could be too little.

5% @1.47

[pleno1]

1% at 1.5

no idea wtf is going on.

[redarmi]

10% @ 1.33

[KarmaDope]

1% at 1.5

no idea wtf is going on.

Surely for poker players it really isnt that complicated?

3 people decide they want a piece of James' action.

Player 1 is willing to buy 10% at 1.65.
Player 2 is willing to buy 30% at 1.25.
Player 3 is willing to buy 30% at 1.45.

They all make their bids on here and James closes the auction. James is selling 30%.

Player 1 made the highest bid (1.65) but didn't buy all the action. He gets the first 10%.
Player 3 made the second highest bid (1.45) and he bid for up to 30%. There is 20% left so he gets that at 1.45.
Player 2 made the lowest bid. He gets nothing.

James has sold his 30%, 10% at 1.65 and 20% at 1.45.

This format means that it is up to the buyer to set rates, not the seller. Stops arguments and people coming into thread saying "charging too much". Buyers pay what they are happy to pay and sellers sell out. Win-win, IMO.

[gatso]

1% at 1.5

no idea wtf is going on.

Surely for poker players it really isnt that complicated?

3 people decide they want a piece of James' action.

Player 1 is willing to buy 10% at 1.65.
Player 2 is willing to buy 30% at 1.25.
Player 3 is willing to buy 30% at 1.45.

They all make their bids on here and James closes the auction. James is selling 30%.

Player 1 made the highest bid (1.65) but didn't buy all the action. He gets the first 10%.
Player 3 made the second highest bid (1.45) and he bid for up to 30%. There is 20% left so he gets that at 1.45.
Player 2 made the lowest bid. He gets nothing.

James has sold his 30%, 10% at 1.65 and 20% at 1.45.

This format means that it is up to the buyer to set rates, not the seller. Stops arguments and people coming into thread saying "charging too much". Buyers pay what they are happy to pay and sellers sell out. Win-win, IMO.

nah, bit in bold is wrong. it's all sold @ 1.45

[KarmaDope]

1% at 1.5

no idea wtf is going on.

Surely for poker players it really isnt that complicated?

3 people decide they want a piece of James' action.

Player 1 is willing to buy 10% at 1.65.
Player 2 is willing to buy 30% at 1.25.
Player 3 is willing to buy 30% at 1.45.

They all make their bids on here and James closes the auction. James is selling 30%.

Player 1 made the highest bid (1.65) but didn't buy all the action. He gets the first 10%.
Player 3 made the second highest bid (1.45) and he bid for up to 30%. There is 20% left so he gets that at 1.45.
Player 2 made the lowest bid. He gets nothing.

James has sold his 30%, 10% at 1.65 and 20% at 1.45.

This format means that it is up to the buyer to set rates, not the seller. Stops arguments and people coming into thread saying "charging too much". Buyers pay what they are happy to pay and sellers sell out. Win-win, IMO.

nah, bit in bold is wrong. it's all sold @ 1.45

Nice spot, so it is, although if this takes off I can see splitting it being the standard.