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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
_________________
"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”
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