weird auction mentioned at bikebike, cumulative bidding?
I don't remember who it was who brought this us, but it was during the grantwriting workshop in the rehearsal room that I think the folks from Fargo put on.
At some point, someone got up and explained a rather interesting take on auctioning off something. They suggested using a crappy department store/trashed bike that's headed for the scrap heap anyway. When you have the group of people bidding, they put their bids into the hat as they make them. Ie, the first person bids $5, and puts $5 into the hat. The next person bids $10, and puts $10 in the hat. The third person bids $15, and puts it in the hat. At the end of the auction, the hat now has $30 in it. The last person winds, but the early/low bidders don't keep their money.
Does anyone remember who it was who offered this suggestion, or is anyone familiar with it? I'm intrigued, and didn't get a chance to follow up with the guy who brought it up.
Thanks!
josh.
I mentioned this, it usually works smashingly. It's tough to translate the process in text but here goes:
What's important is that each bid is $1 and bids do not increase beyond $1 increments (though you can choose to have the bids be $2, or $5, so long as they're small). Also, the winner is the last bidder sequentially, not the highest bidder.
The bid amounts grow very slowly, further encouraging additional bids. People can bid multiple times, but only by the same increment each time. This keeps the pot growing as the donor considers "well..it's only a dollar". This style of auction can go on for 10-15 minutes and eventually, people get tired of the auction and the bike goes to the most recent donor, who like everyone, only put in $1. The hat (the bike shop) keeps the money in the end, but most people only bid a few dollars so its no big loss. Collectively, everyone's few dollars combine to well over the value of the bike, and the winner gets the bike for far less than it's worth. We all win!
One factor critical to the success of this auction is having an especially gregarious, pleasant, bracefaced, beloved, whimsical, or otherwise entertaining person carry the hat as it keeps the spirit of donating light and easy. Also, who doesn't love a gregarious bike pedal peddler?
Jim www.bikecollective.org
On Mon, Sep 21, 2009 at 8:34 PM, veganboyjosh@gmail.com wrote:
I don't remember who it was who brought this us, but it was during the grantwriting workshop in the rehearsal room that I think the folks from Fargo put on.
At some point, someone got up and explained a rather interesting take on auctioning off something. They suggested using a crappy department store/trashed bike that's headed for the scrap heap anyway. When you have the group of people bidding, they put their bids into the hat as they make them. Ie, the first person bids $5, and puts $5 into the hat. The next person bids $10, and puts $10 in the hat. The third person bids $15, and puts it in the hat. At the end of the auction, the hat now has $30 in it. The last person winds, but the early/low bidders don't keep their money.
Does anyone remember who it was who offered this suggestion, or is anyone familiar with it? I'm intrigued, and didn't get a chance to follow up with the guy who brought it up.
Thanks!
josh.
Thethinktank mailing list Thethinktank@bikecollectives.org To unsubscribe, send a blank email to TheThinkTank-leave@bikecollectives.org To manage your subscription, plase visit:
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Thanks, Jim.
The one dollar bid limit makes the whole thing make more sense...
On Mon, Sep 21, 2009 at 7:52 PM, jim hifilofi@gmail.com wrote:
I mentioned this, it usually works smashingly. It's tough to translate the process in text but here goes:
What's important is that each bid is $1 and bids do not increase beyond $1 increments (though you can choose to have the bids be $2, or $5, so long as they're small). Also, the winner is the last bidder sequentially, not the highest bidder.
The bid amounts grow very slowly, further encouraging additional bids. People can bid multiple times, but only by the same increment each time. This keeps the pot growing as the donor considers "well..it's only a dollar". This style of auction can go on for 10-15 minutes and eventually, people get tired of the auction and the bike goes to the most recent donor, who like everyone, only put in $1. The hat (the bike shop) keeps the money in the end, but most people only bid a few dollars so its no big loss. Collectively, everyone's few dollars combine to well over the value of the bike, and the winner gets the bike for far less than it's worth. We all win!
One factor critical to the success of this auction is having an especially gregarious, pleasant, bracefaced, beloved, whimsical, or otherwise entertaining person carry the hat as it keeps the spirit of donating light and easy. Also, who doesn't love a gregarious bike pedal peddler?
Jim www.bikecollective.org
On Mon, Sep 21, 2009 at 8:34 PM, veganboyjosh@gmail.com wrote:
I don't remember who it was who brought this us, but it was during the grantwriting workshop in the rehearsal room that I think the folks from Fargo put on.
At some point, someone got up and explained a rather interesting take on auctioning off something. They suggested using a crappy department store/trashed bike that's headed for the scrap heap anyway. When you have the group of people bidding, they put their bids into the hat as they make them. Ie, the first person bids $5, and puts $5 into the hat. The next person bids $10, and puts $10 in the hat. The third person bids $15, and puts it in the hat. At the end of the auction, the hat now has $30 in it. The last person winds, but the early/low bidders don't keep their money.
Does anyone remember who it was who offered this suggestion, or is anyone familiar with it? I'm intrigued, and didn't get a chance to follow up with the guy who brought it up.
Thanks!
josh.
Thethinktank mailing list Thethinktank@bikecollectives.org To unsubscribe, send a blank email to TheThinkTank-leave@bikecollectives.org To manage your subscription, plase visit:
http://lists.bikecollectives.org/listinfo.cgi/thethinktank-bikecollectives.o...
Thethinktank mailing list Thethinktank@bikecollectives.org To unsubscribe, send a blank email to TheThinkTank-leave@bikecollectives.org To manage your subscription, plase visit:
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veganboyjosh＠gmail.com