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Calcutta buybacks

Posted By: Tom Keith
Date: Friday, 12 June 2015, at 12:45 p.m.

In Response To: Calcutta buybacks (Roland Scheicher)

After a player has been auctioned off at a Calcutta, this player has the right to buy back a portion of his lot from the successful bidder.

(1) When must the player exercise this right?

It's better to wait until the auction is over. It would be too disruptive to do buybacks during the auction.

If allowed to wait until the end of the entire auction, the player will know the exact amount of the Calcutta pool and will decide whether to buy back a portion of his lot or not using this knowledge, whereas the bidder in the Calcutta could only estimate the amount of the pool.

Good point.

In any case I think this privilege must be exercised before the draw, especially before the player knows whether he has a bye or not.

Yes, that's important.

(2) Up to which percentage should a player be entitled to buyback?

A common practice is to set the buyback amount so as to give every potential owner an equal share. For example, if there are two players in a lot, each can buy back a 1/3 share. (That leaves 1/3 for the winning bidder and 1/3 for each lot member if they both buy back.) With three players in a lot, each can buy back a 1/4 share. With four players in a lot, each can buy back a 1/5 share.

Of course, some players don't buy back, so the winning bidder often ends up with a larger share.

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