Monte Carlo Auction

tikay

Administrator
Hero Member

Offline

Posts: I am a geek!!

Re: Monte Carlo Auction

« Reply #60 on: December 14, 2011, 10:47:36 AM »

Quote from: gatso on December 14, 2011, 10:43:32 AM

Quote from: sharplea on December 14, 2011, 10:41:05 AM

Quote from: pleno1 on December 14, 2011, 10:21:13 AM

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

Yes - because he sells everything at the "strike price", as I understand it.


	Logged

All details of the 2016 Vegas Staking Adventure can be found via this link - http://bit.ly/1pdQZDY (copyright Anthony James Kendall, 2016).

T_Mar

Hero Member

Offline

Posts: 1446

Re: Monte Carlo Auction

« Reply #61 on: December 14, 2011, 10:47:55 AM »

10% @ 1.4


« Last Edit: December 14, 2011, 10:49:41 AM by T_Mar »	Logged

GreekStein

Hero Member
Hero Member

Offline

Posts: 20912

Re: Monte Carlo Auction

« Reply #62 on: December 14, 2011, 10:50:53 AM »

So people willing to bid for the full 30% basically have all the power right?

If I bid for 29% at 2.0 and the highest bid for 30% was 1.5, james would sell at 1.5 right?


	Logged

@GreekStein on twitter.

Retired Policeman, Part time troll.

T_Mar

Hero Member

Offline

Posts: 1446

Re: Monte Carlo Auction

« Reply #63 on: December 14, 2011, 10:52:52 AM »

Quote from: GreekStein on December 14, 2011, 10:50:53 AM

So people willing to bid for the full 30% basically have all the power right?

If I bid for 29% at 2.0 and the highest bid for 30% was 1.5, james would sell at 1.5 right?

sigh play properly pls


	Logged

KarmaDope

Hero Member

Offline

Posts: 9283

Re: Monte Carlo Auction

« Reply #64 on: December 14, 2011, 10:53:28 AM »

Quote from: GreekStein on December 14, 2011, 10:50:53 AM

So people willing to bid for the full 30% basically have all the power right?

If I bid for 29% at 2.0 and the highest bid for 30% was 1.5, james would sell at 1.5 right?

Not exactly, no.

If you bid for 29% at 2.0 and the next bid was 30% at 1.5, you would still get 29%, just at 1.5.

If you bid for 29% at 2.0 and Flushy bid rest at 1.8, you get 29% at 1.8.

Basically Keys takes all the bids and the top bids adding up to 30% gets the shares at the lowest bid of that 30%.


	Logged

gatso

Ninja Mod
Hero Member

Offline

Posts: 16222

Let's go round again

Re: Monte Carlo Auction

« Reply #65 on: December 14, 2011, 10:57:19 AM »

http://en.wikipedia.org/wiki/Uniform_price_auction

this with 30 items up for grabs


	Logged

If you get to the yeasty clunge you've gone too far

action man

Hero Member

Offline

Posts: 10673

Re: Monte Carlo Auction

« Reply #66 on: December 14, 2011, 10:59:43 AM »

when the auction is finished can you delete the non winners from it please. Don't fancy seeing myself in red letters when you bink £80k tyty


	Logged

smashedagain

moderator of moderators
Hero Member

Offline

Posts: 12522

if you are gonna kiss arse you have to do it right

Re: Monte Carlo Auction

« Reply #67 on: December 14, 2011, 11:02:04 AM »

James needs to clarify these points imo. this is getting very interesting and could change staking poker players for better or worse.

turning into a who loves James the most game too

put another bid in Trigg, have some balls