PGA Championship - bidding contest for GG - w/extrabonus"hole-in-one"payout!
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POT at 20bag heading into the final day of bidding.

There is an EXAMPLE down below of how this bidding contest works in Geeklist items 1 through 5

THE EVENT: The PGA Championship. This is the final Professional Golf Association MAJOR of the year.

WHERE: The Ocean Course, Kiawah Island, South Carolina USA
WHEN: August 9-12 2012

THE BASICS: Only one golfer will win the PGA Championship, however there may be multiple geek winners who control different percentages (or shares if you will) of that winning golfer. Bidding over the course of 4 different auctions throughout the golf tournament will determine who and how the geek gold pot will be divided up. Since the majority of the bidding will take place as the tournament unfolds, this will cause the value of the golfers "stock" to rise and fall. It will create long-shots that are cheap and leaders that will demand higher geek gold bids. Also "early speculation" could also pay off as it will be cheap to secure bigger shares early in the tournament, when there is the most uncertainty.

HOW IT WORKS: This "Overall Geek Gold Bidding Event" will be conducted in four stages/auctions over the course of 4 successive days. Each stage/auction will end the night before each round of golf is played. EVERY golfer will be bid upon in EACH stage/auction. Once each auction closes, the highest bidding geek for each golfer now controls that amount of corresponding shares SHOULD that golfer go on to win the tournament.

NOTE: YOU NEED NOT PARTICIPATE IN ALL 4 STAGES/AUCTIONS IN ORDER TO WIN GG.

Auction 1 CLOSED - Worth 3 shares (30% of GG pot)
Auction 2 CLOSED- Worth 3 shares (30% of GG pot)
Auction 3 CLOSED- Worth 2 shares (20% of GG pot)
Auction 4 (ending Sat August 11th 6:00pm BGG TIme)- Worth 2 shares (20% of GG pot)

IF A GOLFER DOES NOT RECEIVE ANY BIDS IN AN AUCTION, THOSE SHARES CARRY OVER INTO THE NEXT DAY'S AUCTION.

Example: Golfer X receives no bids in auction 1, so the 3 shares carry over into auction 2. Since auction 2 is worth 3 shares, a successful bid in auction 2 on Golfer X will now be worth 6 shares of the pot should Golfer X win the tournament. However, if Golfer X still does not receive any bids in auction 2, the 6 shares carry over to auction 3. Since auction 3 is worth 2 shares, a successful bid on Golfer X will now be worth 8 shares of the pot should Golfer X win the tournament. And finally if nobody bids on poor Golfer X in auction 1, 2 and 3, a successful bid on Golfer X in auction 4 is now worth all 10 shares (the whole enchilada, 100%) and would take the entire geek gold pot should Golfer X win the tournament.

FOR SAKE OF CLARITY: Once a geek claims their shares after a successful bid in an auction, that golfer's shares are refreshed for the next auction (see above for how much each stage/auction is worth). ALL GOLFERS GET BID UPON EACH AND EVERY STAGE.

FOR SAKE OF CLARITY: Once a successful bid is made on a golfer, that geek retains those shares all the way to the end. It is set in stone. That geek just needs to root that golfer onto victory and claim their percentage of geek gold (or place some more bids of course!).

INCIDENTALS: If a golfer scratches from the tournament prior to them officially teeing off for round one, it nullifies the bid, and no geek gold is owed towards the pot. However, if a golfer has officially logged a stroke in round 1 and then withdraws from the tournament, the bid is binding.

INCIDENTALS: Should weather be a factor, stay tuned. I don't believe that a new round will be played while other golfers are finishing up another, but we'll see.


ANTI-SNIPING: This applies to each particular golfer, not for the entire day's auction. If any bids are made within the last 15 mins before the close of auction, that auction will be extended for 15 mins after the scheduled close time AND extend an additional 15 mins after each and every successive bid. It will end 15 mins after the last recorded bid. I may intervene after a lengthy extension and request a blind bid.

REMINDERS:

-There are NO geek gold payouts for leaders after every round.
-Only tip gg to the geeklist item after you have won it and the auction is closed
-Bid on as many golfers as you like.
-Opening must be at least 1 gg, although you may open with a larger bid
-Only bid in whole geek gold amounts.


WAIT UNTIL AFTER THE AUCTION HAS CLOSED BEFORE YOU TIP THE APPROPRIATE AMOUNT OF GEEK GOLD TO THE GEEK LIST ITEM(only if you have won the bid of course!)

Please try to have tipped your geek gold by Sunday's final round that so I can pay out the winners ASAP!!

****EXTRABONUS**** - if you successfully obtained the shares from a golfer the auction right before he is the first in the tournament to shoot a "hole-in-one" you will receive 10bag plus any GG tipped to this list.

Have fun!!

...and remember that (most likely) the majority of the bidding won't take place until auction #3 & #4 as the leaderboard develops so be sure to keep checking back as the GG pot builds!!!

Good luck!!

CLICK HERE to check out past bidding contests and to subscribe for future ones.
I will be running a contest for the US Open (tennis) next. A multi-stage NFL auction is currently underway.

This FINAL of 4 auctions closes...
AUGUST 11TH 2012 6:00 BGG TIME


Pleasethumbsup this list to help maximize the bag pot!!!

POT = 20bag (+ final stage of bidding)
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EXAMPLE:

Auction #1

3 shares

Golfer X
 
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EXAMPLE:

Auction #2

6 shares

(The 3 shares that carry over (from no-one bidding on Golfer X in auction #1) are added to the 3 shares of auction #2)

Golfer X
 
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EXAMPLE:

Auction #3

2 shares

Golfer X
 
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EXAMPLE:

Auction #4

4 shares

(The 2 shares that carry over (from no-one bidding on Golfer X in auction #3) are added to the 2 shares of auction #4)

Golfer X
 
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EXAMPLE:

...after 4 bidding rounds, bidder B has claimed 6 shares of Golfer X and bidder C has claimed 4 shares of Golfer X.

Should Golfer X go on and win the tournament and the pot reached 200, bidder B would win 120 and bidder C would win 80.

 
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6. Family: Country: USA
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10 shares

Blake Adams
 
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8 shares

Thomas Aiken
 
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8 shares

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