James Keys WSOP Main Event (auction)

[tikay]

@pleno: got the 312 but not the 600 as yet

@tonytats: yeah any of those would be fine tyvm

@tikay: actually not amazed/surprised at the price tbh, think I'd be value at higher, but I guess I would think that 

I think you would & could have got more if you had just "sold" at, say, 1.7 or 1.8, I'm quite sure it would have sold out.

Many of us still have to get used to this Auction thing, it is quite awkward in some ways, because folks don't want to be seen to make a fool of themselves with bids that are out of line. In that respect, a Blind Auction might work better, but it brings with it lack of transparency, & the obvious possibilities of funny business, & nobody wants to go down that route. 

[The Camel]

If you are going to have an auction (which I really don't like btw), do you really think you should have a cutoff time?

It should be alike an auctioneers, when a new bid is made, the other bidders should have time to respond with a revised offer imo.

Going.

Going.

Gone.

[neeko]

xe.com says

156.00 USD    =    99.5670 GBP
US Dollar         British Pound
1 USD = 0.638250 GBP         1 GBP = 1.56678 USD

99.567 *1.005 = £100.0648

I assume grimming you out of the 6p and sending £100.00 to your bank account as previously is ok.

GL in your quest for second winning.

[skolsuper]

Yep that's fine mate. I reserve the right to deduct 6p from your $80k winnings tho

[cambridgealex]

If you are going to have an auction (which I really don't like btw)

Had a change of heart since this?

I think this is a great idea.

Thoughts on making it a silent auction?

Key's has done two in the past, one silent and one not. I think the non-silent worked better personally - people can see what's going on, they can see how their bid is going to alter the price and they always know how much there getting. I can see the upsides of a silent auction though too. Interesting idea.

Basically I think people auctioning off their action should be the way forward, it's a perfect market solution - nobody gets ripped off, market forces will determine what price everyone sells at. And nobody misses out, everyone can always get a slice of the action if they want.

This is a point I hadn't even considered.

Very annoying to see a good value stake be sold out in 15 minutes because I have been offline, when I might have paid 10% higher markup.

[The Camel]

Obviously!

[smashedagain]

Obviously!

great thread James and best of luck in Vegas.

[skolsuper]

If you are going to have an auction (which I really don't like btw), do you really think you should have a cutoff time?

It should be alike an auctioneers, when a new bid is made, the other bidders should have time to respond with a revised offer imo.

Going.

Going.

Gone.

Thats the reason I made it lowest winning bid, like eBay. If you would have paid higher than 1.56 then the idea was that you could be able to bid that and not have to pay it unless there was demand up to that price. After all, there has to be a cutoff somewhere or the auction might not finish before the tournament starts.

The problem with this auction was, unlike eBay, everyone can see what price you'd be prepared to go to, and poker players never like to show their hands. I tried an auction with closed bidding, but it disappeared off the top of the staking board and received very few bids. I think there may be a middle ground, where bids are closed but I update the thread with the current cutoff price (and possibly name of bidder), then publish a list of winners after the auction, so there are no issues with transparency. It's still a work in progress. Sorry you missed out this time.

[smashedagain]

How about a Dutch auction mate. Start with your 50% at 3.0 and come down 0.1 at a time say every hour. People have to pay what they bid until all percentiles are sold out. Might be fun.

[skolsuper]

Rec'd from neeko and Sandy tyvm

[luckyblind]

Thought I posted here yesterday but internet was playing up. Can you PM me bank details and how much to send in sterling for my %. Cheers.

[skolsuper]

Thought I posted here yesterday but internet was playing up. Can you PM me bank details and how much to send in sterling for my %. Cheers.

Yeah I remember seeing a post of yours somewhere, just couldn't reply as I was on my phone at the time + in a rush. Pm on its way

[pleno1]

Oioi mate. Get it won x

[skolsuper]

Lost AA v AQs for 300k, 44 vs 33 for 400k, JJ into KK for 150k and QQ to KK for 320k today. </moan>

Not especially happy obviously but will still play my 218k tomorrow to the best of my ability, still got lots of equity so won't throw it away frivolously.

[smashedagain]

Best of luck James