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Rules
Calcutta Auction - “What’s it all about?”
Each of the 32 players in the tournament are up for auction/sale.
This will be done using professional online auction software in a similar fashion to something like eBay.
All players will be available to be bid on simultaneously and you can see them all on one page what the current bids are for each and every player. The auction will run for a specific period of time.
On the conclusion of the auction, the winning bidders have 48 hours to send payment for the amount of the winning bid. Failure to make the payment within this time will result in the auction being rerun for this particular player and the offending person banned from bidding in future.
When payments for all players are received, this creates a total prize pot!
(Some auctions of this kind allow the auctioned player to purchase a part stake in himself once the auction has finished, but I will not be doing that here. If you want a stake in yourself, then you will have to bid on yourself like everyone else. )
Then it’s just a case of sit back and enjoy the tournament play out and root for the player or players you have bought.
If your player or players reach the final of either side of the tournament, you win a share of the total prize pot (everyone’s combined auction prices) and the payouts are as follows:
Gold Winner : 40%
Gold Runner-up : 25%
Silver Winner : 20%
Silver Runner-up : 10%
[5% is taken for admin]
Winning funds will be paid out within 24 hours of tournament completion.
Any further questions, don’t hesitate to ask me!