Player Auction/Calcutta

[max06]

What would the correct way to figure calcutta/player auction payouts?
I always thought that at least 50% of the collected funds (after house fees are taken) went to 1st place. I usually see 3 maybe 4 places paid from calcutta funds.
Is there a formula for this or does the house rule?

 

[RiverCity]

There should be no "house fees" taken out of a calcutta pool. Greens fees and the like should come out of the tournament prize pool.
That said, pay 3 places 1st gets 60%, 2nd gets 30% and 3rd takes 10%.
Chuck

 

[$TAKE HOR$E]

There are places that take a % from the calcutta and tournament both and will use it as the added money if the tournament is advertised as having money added.

 

[Marie's husband]

I feel that only three places is the way to do it for a field of 32 (50/30/20) or less and top 4 (45/25/20/10)for 64 or more. I have not seen a "house" try and take any of the money out of an auction I have conducted for the tournament director. If the "house" said they would want a percentage of it I wouldn't do the auction because its not fair to the players.

I have had tournament directors tell me to put out that a player that is bought in the auction has an automatic option to buy half of himself. I think that having that mandated option lowers the overall calcutta cash. Yes, I do know that most of the players bought during the calcutta split the cost with the buyer, but some buyers don't do that and I cant blame them for that. I mean, they were the ones who initially put there money on the line so why should they feel obligated to split. Also, if you wanted to buy yourself, then you should have won the bid.

Just my two cents.

 

[Cajunette]

House gets none

House gets no calcutta money around here, and they usually add to the tournament. Also, the player usually has the first bid on himself. If you do not win your auction you have the right to buy half yourself from the highest bidder. BUT, you must do so BEFORE the tournament is played. If you don't buy half yourself the winner of your auction doesn't have to give you anything. Although most of the time they may give them some token of appreciation for not giving it away and still trying to win the tournament. I'm not sure how the % works but, I'm sure it's on one of the web sites that keep live brackets. If I'm not mistaken it could be pool4u.com or total pool info. I remember reading it somewhere.
Good luck.