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| NCAA Auction https://mail.chicagofanatics.com/viewtopic.php?f=129&t=9567 |
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| Author: | bigfan [ Sat Feb 03, 2007 9:11 am ] |
| Post subject: | NCAA Auction |
Was wondering who would be interested in a LIVE NCAA Auction. I have been apart of three of them in the past and after a few years they die because they either get too big or too small. If you are not aware, the concept goes like this: 1. It is a real LIVE auction, probably at a place like JOES on Weed street. 2. The brackets are broken down before any bidding showing each 1st round win is worth .75% of the total pot, 2nd round wins are 2.5% and so on. 3. You register before hand by BUYING a Bidding Card with a number on it for $100. That $100 goes to your bidding, but you lose it if you dont bid. 4. Each card is allowed to bid up to $1000. Thus you can buy Maryland for $400 and Arizona for $600 on card 1. You can not use $300 or so remianing on a card with any other card. 5. If 2 people each bid $1000 max on a card, there is one blind bid to see who gets the team. 6. It's about $50,000 or so in the pot. I did not participate last year, for the first time in 5 years, but wanted to see if anyone would do such an event. Usually it is a group of guys who bid together on one card., or they buy 2 cards together EXAMPLE In 2002 we paid $450 for Indiana, the total pot bid fro the event was $72,000, they won 1st round for .75% second round for 1.5% 3rd for 4% final four 5% and made it to the championship game for another 6%, thus we took home about $12,000 for our $450 investment (Numbers are approx, but you should get the idea) So if you are interested, email me and I will keep you informed |
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| Author: | TheDawg [ Sat Feb 03, 2007 4:10 pm ] |
| Post subject: | |
My Brother does one with a bunch of guys from the CBOT, big $$$$ great thing though if you buy an underdog |
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| Author: | good dolphin [ Tue Feb 20, 2007 5:23 pm ] |
| Post subject: | |
I'd be interested. |
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| Author: | Woodridge Ryan [ Tue Feb 20, 2007 5:31 pm ] |
| Post subject: | |
Definite interest here. Are you doing the pool coast and i are working on? |
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| Author: | good dolphin [ Tue Feb 20, 2007 5:44 pm ] |
| Post subject: | |
Probably not. Those things always end up being won by someone's girlfriend who chose based on the cuteness of the mascot. |
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