AUCTION & Indian Premier League
IPL and its Auction process
Total 332 players will be sorted into separate groups based on their role and split into pots. The auctioneer will announce the names of the players, and the teams will start bidding on them. Each cricketer will be bid based on their base price, and the bidding will continue till the auctioneer announces that the player is sold. A player will go unsold if no team bids for them. The auctioneer will give the franchises an option of listing the unsold players they are interested in and will start the bidding for those players for a second time with the base price of the player slashed to half of the original price. If the players remain unsold for the second time, they will be considered unsold in the auction.
How Much Money Can I Spend!
Each team is assigned a specific budget to make their bids on players. This time following are the Cash balances left with each team but in our BREAKING BID auction, each team will be having an equal amount of cash in their wallet.
Auction requires financial skills?
A little yes but anyone can win at the auction just by planning and budgeting.
So
here are some tips and tricks for the betterment of your auction game.
1. Always have a preview of players
You should have
a preview to inspect the players even if
you think you know them all. Make a basic structure of how many players you
should buy to fulfill the criteria. Make note of points each player holds and
try to maximize the point score.
2. Always set a max limit while
bidding.
Set your limit
for each item of interest, and then stick to it. It’s all too easy to get
caught up in auction fever and bid far more than you intended. If you doubt
your willpower, attend with a mature person so they can keep you accountable.
3. Start bidding as soon as your
player arrives.
Auctions move fast. If you hesitate too long, the hammer may come down
before you’ve worked up the courage to bid
4. Patience will give a reward if the crowd
is impatient
Remember cash balance is the same for everyone;
you'll have less competition for
the winning bid.
5. Don’t get into a bidding war
If you get caught up in beating the other bidder, you may end up wishing
you’d lost once the auction ends and you’re committed to a high price.
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