How a Calcutta Auction Works:
Have you ever been to a horse pull and wondered what all the excitement over the "calcutta auction" was? Being new to the sport, we wondered the same thing ourselves. We asked someone who grew up around horsepulls and here is what we found out:- After each team has completed their first pull, an auctioneer begins to auction off the 1st team in the competion. Each team is auctioned off in two groups. The winning bidder for the first group (Group 1) is betting that his/her team will finish in either 1st., 2nd. or 3rd. place. The winning bidder for the second group (Group 2) is betting that his/her team will finish in either 4th., 5th. or 6th.. Once the auctioneer has secured the highest bid for both groups that team is done being auctioned off.
- The auctioneer continues this until all of the teams are sold. Sometimes competitors choose not to have their teams sold because they will be pulling their team from the competition.( ie. young team).
- All money is collected from the highest bidders and kept separate based on being either Group 1 or Group 2.
- The money is totaled for each group. 20% of the total from each group goes back to the organization hosting the horse pull. The balance is divided and awarded to the winning bidders as follow:
- Winning bidder for team that takes 1st place is given 40% of the balance in Group 1.
- Winning bidder for team that takes 2nd place is given 35% of the balance in Group 1.
- Winning bidder for team that takes 3rd place is give 25% of the balance in Group 1.
- Winning bidder for team that takes 1st place is given 40% of the balance in Group 2.
- Winning bidder for team that takes 2nd place is given 35% of the balance in Gorup 2.
- Winning bidder for team that takes 3rd place is given 25% of the balance in Group 2.
BUYER FOR BUYER FOR FINISH WINNER OF
TEAM NAME 1st, 2nd or 3rd $PD 1st, 2nd or 3rd $PD PLACE AMT AUCTION
CLARK PETER $150 DON $200 2ND $224 PETER
PETERS PAUL $100 JACK $150 4TH $224 JACK
HARRISON CARL $ 50 FRANK $ 50 7TH $ 0 NO ONE
FORD RICH $100 TOM $ 50 5TH $196 TOM
MILLER MARK $200 JEFF $100 1ST $256 MARK
SMITH MIKE $ 50 BOB $ 50 6TH $140 BOB
JACKSON FRED $150 DAVE $100 3RD $160 FRED
Per Group Total: $800 Total: $700
20% of Total to Legion: $160 $140
Per Group Balance $640 Balance $560
% of Balance 40% to 1st: $256 40% to 4th: $224
% of Balance 35% to 2nd $224 35% to 5th: $196
% of Balance 25% to 3rd $160 25% to 6th: $140
Example from above:
Mark bough the Miller team for Group 1. The team finished 1st. therefore he won $265. (40% x $640)
Peter bought the Clark team for Group 1. The team finished 2nd. therefore he won $224. (35% x $640)
Fred bought the Jackson team for Grop 1. The team finished 3rd. therefore he won $60. (25% x &640)
Jack bought the Peters team for Group 2. The team finished 4th. therefore he won $224. (40% x $560)
Tom bough the Ford team for Group 2. The team finished 5th. therefore he won $196. (35% x $560)
Bob bought the Smith team for Group 2. The team finished 6th. therefore he won $140. (25% x $560)
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