Round 2: LAPT Colombia main event auction

[cambridgealex]

Hi, my name is Alex Goulder and I recently won a seat to LAPT Colombia which is on the 8th August and a 4.2million buyin event....



4,200,000.00 COP   =   1,505.301 GBP
Colombian Peso   ↔   British Pound

I'm auctioning off 10%, or 20% if reserve price is met. edit: reserve price pmed to Tight End.

I honestly think this will be one of softest tournaments I'm ever likely to play. From watching the players in the satellites (mainly compromised of players from South America) and from my experience of playing online with Brazilians, Venezuelans etc, I think I'm very well placed to make a deep run. I find that events such as these suit my style more than any others, as they are all about value betting well, making disciplined folds and picking off bluffs, rather than complex plays, high variance lines and balancing ranges. Being a predominately live player, I'm very accustomed to this style and once I get a stack and get deep into an event, I usually go really deep because I know how to play vs these player types very well and value my tournament life in a soft field very highly. Although obviously a very small sample size, I think my hendon mob results of 1st, 1st, 4th, 6th out of the 9 events they've recorded there show this to some extent. I want to sell myself, but I don't want to overdo it, so I'll leave it at that.

There was 685 runners for this event last year, so the prizepool will be very juicy, at a very rough guess first prize between £200k and £300k

http://www.sharkscope.com/#Player-Statistics//networks/PokerStars/players/20alex430?filter=
http://www.sharkscope.com/#Player-Statistics//networks/*/players/Sr%20Croissant
http://pokerdb.thehendonmob.com/player.php?a=r&n=186500

I think this'll be a really fun sweat and it'd be good to get lots of blondes on board having a little slice.

The auction will end at midnight this Sunday 29th July.

Edit: I'll only be accepting bids on this thread OR on my diary thread. That way people with less than 300 posts can still bid, but all bids are transparent and in public.

The Colombian government take a 20% tax on all winnings. Please consider this before bidding as it obviously makes it a less attractive proposition. The reserve price I've sent to Tight End reflects this.

1% starts at £15.05
10% £150.50

Good luck.

Bids

[scotty77]

5pc at 1.55

might just be me but the yellow colour about the tax is awful!

[cambridgealex]

Auctions rules as standard:

Everyone who is interested in buying a piece should make a bid for a certain percentage with the maximum price they would be prepared to pay for that piece. e.g. pleno 5% @ 1.8
All the bids are arranged in descending order by price* and the top 10 percentiles** at 00:00 on Monday 30th July 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.

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 rounded 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 in plenty of time to chase everyone up for payment before the event.
To prevent any <0.5 shenanigans, the minimum price will be 1.0
In the event of some unforeseen dispute arising the referee's* decision will be final.

*me

Note: The exchange rates are pretty volatile so I'll lock in the exchange as above for the buying. If we cash, I don't know how I'll receive the money, it might be in USD, it might be in pesos or bank transfer. Either way, I'll consult blondes or someone well-placed to make the best judgement at the time. I'm travelling around Colombia after the event so will be in no rush to leave, I'll make sure that however we get the money will be the best way and no-one will lose out more than necessary on the exchange rate. Loses will be shared equally amongst investors and myself.

For example: It turns out that the most +EV way of getting the money is to get it in USD cash, then investors can receive their share in USD cash or they can receive their share in £ at the rate at which I manage to convert it.

Very open to advice on this policy of course, feel free to comment even if not interested in the thread.

[cambridgealex]

5pc at 1.55

might just be me but the yellow colour about the tax is awful!

booked and edited to green!

[cambridgealex]

Bids (current price 1.55)

Neeko 2% @ 1.66
Eso Kral 3% @ 1.61
Stato1 10% @ 1.6
RedSimon 2% @ 1.59
Scotty77 5% @ 1.55
EsoKral 3% @ 1.39
EdGascoigne 2.5% @ 1.28
EdGascoigne 5% @ 1.23
MC 8% @ 1.22
JJandellis 3% @ 1.11
Rupert 20% @ 1.1

[Rupert]

20% at 1.1

[The Camel]

WTF are Stars doing running a tournament where there's a 20% tax on the pool?

[cambridgealex]

All booked so far, thanks.

[MC]

8% at 1.22

[redsimon]

2% @1.59 please

[cambridgealex]

5% @ 1.23
2.5% @ 1.28

...in the post tax LAPT auction please Alex.

[EvilPie]

WTF are Stars doing running a tournament where there's a 20% tax on the pool?

How is it any different to when they did WSOP sats? The Americans get taxed on those don't they?

[smashedagain]

do you need 300 posts to post on here? i thought you only needed 300 posts to ask for backing not if you wanted to buy in someone

[cambridgealex]

do you need 300 posts to post on here? i thought you only needed 300 posts to ask for backing not if you wanted to buy in someone

no you need 300 posts just to post on this board

[smashedagain]

do you need 300 posts to post on here? i thought you only needed 300 posts to ask for backing not if you wanted to buy in someone

no you need 300 posts just to post on this board

oh ok. so people with less than 300 posts cant usually buy stakes?