Auction 2013-1: Trial Auction 1 - Win KiasuPoint$

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Auction 2013-1: Trial Auction 1 - Win KiasuPoint$

Postby ChiefKiasu » Wed Apr 17, 2013 11:46 am

Auction Date: 22 Apr 2013
Auction Time: 1000hrs (10am)
Prize: 5000 KiasuPoint$ (KP$)
Starting Bid Price: 1 KP$
Bid Timer: 30 seconds


Our new online Auction module is finally ready! Before we start dishing out real goodies, we need to help everyone earn some KiasuPoint$ fast. At the same time, we want all players to get familarised with the new system, even though it is really easy to use. So that's why we are running these trial Auctions.

To play in the Auction, you must go to the online auction page. Click here to access the page. You may continue to discuss about the Auction in this thread.

To find out how to play in our Kiasu Auctions, click here.

To find out how you can earn KiasuPoint$, click here.

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Re: Auction 2013-1: Trial Auction 1 - Win KiasuPoint$

Postby BigDevil » Fri Apr 19, 2013 6:16 pm

In this trial Auction, all bidding fees and bid prices will be refunded at the end of the Auction. At the end of the Auction, you will receive 5 KP$ for every bid you make in this Auction. So if you make 10 bids during the auction, you will earn 50KP$ when the Auction ends, regardless of whether you win the Auction!

If there is no cost to this trial auction, then everyone will just click non-stop until they exhausted their KPs, no? And the winner will just be the reigning Donald Trump/Paris Hilton.

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Re: Auction 2013-1: Trial Auction 1 - Win KiasuPoint$

Postby BigDevil » Fri Apr 19, 2013 6:22 pm

I currently have 18331 KP$.

Every click costs 1 KP$, but can get 5 KP$ back after the trial.
So I stand to gain 91655 KP$!!

Provided I don't get finger cramp clicking 18331 times. :lol:

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Re: Auction 2013-1: Trial Auction 1 - Win KiasuPoint$

Postby buds » Fri Apr 19, 2013 6:28 pm

BigDevil wrote:I currently have 18331 KP$.

Every click costs 1 KP$, but can get 5 KP$ back after the trial.
So I stand to gain 91655 KP$!!

Provided I don't get finger cramp clicking 18331 times. :lol:



You sure numb wan arh BRAder! :laugh:

buds
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Re: Auction 2013-1: Trial Auction 1 - Win KiasuPoint$

Postby Harlequin » Fri Apr 19, 2013 6:55 pm

Like that huh.... inflation would kick in, our KS points would only suffer depreciation lor. :evil:

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Re: Auction 2013-1: Trial Auction 1 - Win KiasuPoint$

Postby TheAnswer » Fri Apr 19, 2013 8:52 pm

I'm not free on Monday at 10am :cry: :cry:

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Re: Auction 2013-1: Trial Auction 1 - Win KiasuPoint$

Postby ChiefKiasu » Fri Apr 19, 2013 10:55 pm

BigDevil wrote:I currently have 18331 KP$.

Every click costs 1 KP$, but can get 5 KP$ back after the trial.
So I stand to gain 91655 KP$!!

Provided I don't get finger cramp clicking 18331 times. :lol:


Thanks for the feedback. Those are good points. We will set the reward as 1KP$ per bid instead of 5KP$ per bid, and subject to a maximum of 1000KP$. We will also set a hard end for the trial bidding at 12 noon (2 hours) if there is no winner yet by then. The last bid winner will be the winner.

Actually, each click costs 10KP$. But the bid price will increase by 1KP$. So if you have 18331 KP$, (and assuming you are the only one playing and you want to outbid yourself), it will go like this:
Code: Select all
Current Bid Price      Your account balance
1KP$                      188331KP$   
2KP$                      188321KP$
3KP$                      188311KP$
...

and so on.

We will monitor the game closely. Because the trial sessions is intended to favor people with low amount of KP$, we may eventually introduce measures such as:
- Only those with less than 10,000 KP$ can play in the trial auctions.
- Those who may have won previous trial auctions may not be allowed to participate in future trial auctions.

In the actual Auctions with real prizes, there will be no such rules or time limit on the Auctions. It will be the last one standing then :)

In any case, the dynamics of these penny auctions are actually quite complicated, despite the seemingly simple processes. Let's say the one with the most KP$ is X, with 500KP$, and there are 10 other players A-J with 100KP$ each. The bidding commences:

Code: Select all
Bidder     Bidder's Remaining Cash     Bid Price
X            490KP$                             2KP$
A            90KP$                               3KP$
B            90KP$                               4KP$
C            90KP$                               5KP$
X            480KP$                             6KP$
D            90KP$                               7KP$
A            80KP$                               8KP$
X            470KP$                             9KP$
E            90KP$                               10KP$
F            90KP$                               11KP$
X            460KP$                             12KP$
G            90KP$                               13KP$
X            450KP$                             14KP$
... and so on.


As you can see, the one with the highest cache is not only bidding against the player with the 2nd highest cache, but rather against all the players. As long as the bid price does not disqualify players with lower amounts of KP$ from bidding, anyone with a much lower amount of KP$ can remain a threat to the one with the highest amount of KP$, who will be forced to continue to bid and expend KP$ to prevent sneak wins from other players.

So while having lots of KP$ does give players a significant advantage in winning the Auctions, there is enough uncertainty to keep players on the edge and make the game fun!

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Re: Auction 2013-1: Trial Auction 1 - Win KiasuPoint$

Postby limlim » Sat Apr 20, 2013 9:32 am

1 question abt biding.. do you enter your bid (i.e. say, 10,000KPs), or, each bid is automatically increased by 1?

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Re: Auction 2013-1: Trial Auction 1 - Win KiasuPoint$

Postby ChiefKiasu » Sat Apr 20, 2013 12:10 pm

limlim wrote:1 question abt biding.. do you enter your bid (i.e. say, 10,000KPs), or, each bid is automatically increased by 1?


You just click on the Bid button. No need to enter your bid. It is automatically incremented by the bid increment, which is currently set at 1KP$.

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Re: Auction 2013-1: Trial Auction 1 - Win KiasuPoint$

Postby ChiefKiasu » Mon Apr 22, 2013 9:55 am

5 minutes to start of Auction...

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