Vickrey Auction?

nowidwo

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Would a Vickrey Auction be progress for some chip sales, or are there inherent flaws in the structure that make it unsuitable for chippers?

Vickrey in practice:
https://keycult.com/blogs/typings/the-vickrey-auction-and-why-were-using-it

Vickrey in theory:
https://en.wikipedia.org/wiki/Vickrey_auction

Seems that the biggest positives would be that the seller could capture more value from the whales who would get the chips either directly or via the secondary market, and follow on-sales would have less pressure to inflate assuming that the whales already obtained what they wanted. Or am I making a bad assumption here and people actually want secondary values to continue the way they are?

Downsides appear to be decreased pricing transparency and potential for collusion from buyers.

All that being said, I'm currently a pretty solid fan of TCR's current selling flow. Order filling technology issues aside (on both the seller and buyer sides), I rather like that if you want the chips out of the gate, you've got to put in some work as a buyer, but if you lose out on the first few minutes, or are good with ample used stock, there's still solid opportunity to purchase what you'd like.
 

pltrgyst

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A Vickrey Auction would be interesting, but it would potentially require a work-around if Tommy decides that it's not allowed to post others PMs. :cool
 

AWenger

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The Chip Room has done something like this before:
https://www.pokerchipforum.com/threads/tonkawa-casino-silent-auction.24526/
https://www.pokerchipforum.com/threads/native-lights-secondary-silent-blind-auction.24776/

I like this format for limited chip sets.

Specifically regarding the rarer denom chips that sell out in maybe 10 seconds, the standard Chip Room sale format seems to cater to people with super-fast internet and cat-like video-game reflexes in clicking multiple links and filling out their orders. This leaves many people in the dust, without a chance to buy the rarer denom chips.

There are likely some people who don't have the quickest internet, or don't have the quick video-game reflexes, or people that have to work on weekends when the chip sales are happening that may not ever have a chance to buy some of those chips. An auction format, (blind auction, vikrey, etc.), for at least some chips, or some sets including some of the limited chips, is an idea I could agree with, and would at least open sales up to others who would not have been able to buy chips otherwise.
 

nowidwo

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@AWenger Thanks for providing the links. When I searched the forum for "Vickrey" nothing came up, but nice to see that it's something Jim has already tried. And before I assume "tried and failed" I'll have to read through all those pages and see how things turned out.

[edit]A quick surface scan of the thread and it looks like it was a net positive. Fun for the participants and for Jim...I'll mine for more insights on a second read.
 
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Silver_Fiend

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Heard loud and clear, guess this horse has been beaten to death.
Eh, dont let the grumpy old men get you down. I think its a good idea in theory. The fact its been done and since abandoned shows it either didnt prove profitable enough or there was obvious collusion among bettors.
 
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