Tonkawa Casino Silent Auction (2 Viewers)

Status
Not open for further replies.
Fantastic system Jim! And good luck with this and future sales.

Now i have 1 week to figure if i will bid and how much :) and the picture in the OP is sure calling for some action
 
Good luck to all bidders. This is one sale I’m glad I am unable to take part in. Well let me rephrase, I’m glad my wallet is saying...”uh, PTS...we ain’t got THAT...”

Chips are awesome.
 
Gorgeous chips that I hopefully will enjoy adding to my collection and onto the playing rotation :)
 
cool idea Jim, I like it. Wish I had the money to put a bid in. glws and hope to see some PrOn
 
What? I just woke from a much needed nap. Read this while still groggy and realized there is a ridiculously gigantic problem with this silent auction.......
 
Disclaimer: I'm not in for the auction, although I'm watching this format with interest.

One potential issue came to my mind: what if the 7th highest bid is bid multiple times? You'd end up with more than 7 "winners" this way if I understood the explanation correctly.
 
Nex said:
One potential issue came to my mind: what if the 7th highest bid is bid multiple times? You'd end up with more than 7 "winners" this way if I understood the explanation correctly.
Click to expand...

I would guess first bid takes priority?
 
Thanks for bringing them back to the forum, and it sounds like a really cool format. Look forward to following it. Will the actual purchase price be posted in this thread after the auction?
 
I guess I should have called this a Blind Auction, instead of a silent auction. In a silent auction, you do know what highest bid is. I will not be posting any information on the bid amounts during or after the auction, only the clearing price. It makes it a little more fun. I will tell you that we do have more than the minimum number of 7 bids already, so the sets will be selling!

Jim
 
Last edited:
I have several people sent me a PM to say that they have found a flaw with the auction. They say what if one person bids really high for set to gain an unfair advantage. I don't look at it as an unfair advantage. They do not know what the final value will be and are saying that they want a set no matter what the final price is. They run the risk that 6 other people will employ the same strategy and they will end up paying above market value. Remember all bids are final and if you renege on a bid, you risk being banned from any future Chip Room Sales. Everyone here is smart enough here to calculate (privately) what they think the value of the set is. You way that against your wants and willingness to pay and make you bid accordingly. Some people with calculate the minimum they think they can get the set for, others will bid higher if they want to make sure they get a set of minty fresh Paulsons. This auction employs strategy, which is why I really liked the idea when it was presented to me.

Good luck!

Jim
 
TheChipRoom said:
I have several people sent me a PM to say that they have found a flaw with the auction. They say what if one person bids really high for set to gain an unfair advantage. I don't look at it as an unfair advantage. They do not know what the final value will be and are saying that they want a set no matter what the final price is. They run the risk that 6 other people will employ the same strategy and they will end up paying above market value. Remember all bids are final and if you renege on a bid, you risk being banned from any future Chip Room Sales. Everyone here is smart enough here to calculate (privately) what they think the value of the set is. You way that against your wants and willingness to pay and make you bid accordingly. Some people with calculate the minimum they think they can get the set for, others will bid higher if they want to make sure they get a set of minty fresh Paulsons. This auction employs strategy, which is why I really liked the idea when it was presented to me.

Good luck!

Jim
Click to expand...
I wasn’t much of a fan of the inlay at first but in the racks those chips look amazing, might have to think about a bid. I’ve had nothing but great experiences purchasing through the chiproom in the past, so I wish you good luck with the auctions.

I think this is an extremely fair way to make these chips available to the chip community and also ensure you get the right price. It seems ridiculous to have any complaints with this method, given that we are all poker players here.

Especially since Jim is honouring the price of the lowest winning bid for all 7 sets. Very generous imo.
 
I like it.
FDLmold said:
As Jim said, the “Bid $8000” strategy has risks. That is a feature, not a flaw of this auction system.
Click to expand...
Risks... Could lock you the set for cheaper, or could lock you the set for more depending on people's aggression. It's a beautiful system.
 
Me right now...

bcf.png
 
Status
Not open for further replies.

Similar threads

T
  • Locked
Cancelled Ambassador Plaza Auction - $5s, $25s, $100s
Replies
5
Views
235
Th14
T
CCA_SM_Director
21st Annual Bruce Landau Memorial Auction
2
Replies
34
Views
493
CCA_SM_Director
CCA_SM_Director
TheChipVault
  • Locked
SOLD CLOSED - Intercontinental Sets - Bud Jones S2 MINT - Owners Reserve Auction
Replies
8
Views
786
TheChipVault
TheChipVault
J
  • Locked
Traded Auction-style trade of Jack Cinci secondary $25k and $1k's for Jack Cinci primary $1k and lower
Replies
17
Views
627
TheCollector25
TheCollector25
TheChipVault
  • Locked
SOLD CLOSED - Martini Club - MINT Blue Chip Co - Owners Reserve Auction
Replies
19
Views
1K
glynn
G
Back
Top Bottom