What is a Calcutta Auction:  The Calcutta creates yet another pool of money to be won. (The others are the (1) regular prize money and the (2) side pools.) All OPEN and ADVANCED players are grouped into teams. Sometimes there is only one person on a team if it is an Elite player. Anyone can bid on that team. An Auction sheet displaying all teams will be available just prior to the start of the Auction (Friday at 10:00AM, right after the lecture.)  People mark the sheets just like a horserace.

 

Who may participate:  Anyone at all may bid on a team. If any person on the team cashes in the Main event, the team owner and any team member who bought themselves back will win money from the Calcutta pool.

 

What the devil does that mean? Here is the beauty of the Calcutta. Suppose you are in a team of four, you and three others. Bobby Bicep bought your team for $400. You have the right to buy back a certain percentage of the team from the Owner. If the percent is 20%, your buy-back is $80. Cindy Cupcake is a player on your team and she wins the Advanced division. You will get 20% of the Calcutta purse for Cindy.  You win money without playing!! (Percentages are at the bottom of the Auction sheet.)

 

            What are the benefits of buying myself back? Other than the possibility of winning money on someone else's labors, the Calcutta gives a social opportunity for you to meet the other players on your team and your team owner. Players are STRONGLY urged to buy themselves back. If no one does, there will not be any bidders any more.

 

Post auction procedures:

 

• Winning bidders must pay the cashier for their purchases before  the  dinner break (5:00 pm) on FRIDAY evening..

 

• Buy-backs by players are made from the Owner of your team immediately after the auction. There is about 30 minutes to do this. Find your owner and pay him or her. Once we announce the draw there are no more buy-backs.

 

• 85% of the Auction pool will be returned as prizes. 5% is donated to charity. The Auction prize distribution will be posted on the event’s prize sheet for that division. Note: 3rd/4th place in Consolation(s) are not allocated Auction money.