After its successful introduction in 2017, the LAWSKI Organising Committee is pleased to announce the return of the Calcutta Sweep & Auction.
2018 will see the return of the Calcutta event, much like many sweeps & auctions you may have seen for events such as the Melbourne Cup.
Introduction to Calcutta Sweeps & Auctions
The Audrey Wilkinson Calcutta is a 3-step process involving:
- first, a sweep;
- secondly, an auction; and
- finally, the running of the Helly Hansen LAWSKI Race.
The sweep for the Calcutta was run at the Kosciuszko Pale Ale Registration Party. All LAWSKI 2018 participants are in the running, whether they attended or not.
We will publicly draw, alternately, the name of each of the registered A-Teams (both composite and non-composite), and the name of a LAWSKI 2018 participant (such person being a “Preliminary Owner” of that A-Team).
Last year in 2017, this resulted in the Preliminary Owners listed below. The 2018 sweep will work in a similar format:
But all this can change. Preliminary Owners do not necessarily get to keep their A-Team – because now it’s time for the second leg – the Auction!
At the Polo CPI Welcoming Party at the Keller Bar, each of the A-Teams (composite and non-composite) will be auctioned off in the order they were drawn in the sweep by:
- at first, a silent auction for each of the A-Teams; and
- subsequently, a quick live auction to finalise the bidding on the top 3 A-Teams (based on current bidding).
EVERYONE (including Preliminary Owners) can bid on as many teams as they like.
What happens on final bids
Once bidding for a team concludes, the successful bidder becomes the “Final Owner” and will take that team into the running of the Helly Hansen LAWSKI Race.
The Final Owner’s bid then gets divided up as follows:
- 40% is donated to the Charity (as a tax deductible donation);
- 40% is paid into the Prize Pool (see below); and
- 20% is either:
~ if the Final Owner is not the Preliminary Owner of the relevant A-Team, paid by the Final Owner to the Preliminary Owner; or
~ if the Final Owner is the Preliminary Owner of the relevant A-Team, withheld by the Preliminary Owner.
The reserve price for each team is $50. If a team is “passed in”, the Preliminary Owner becomes the Final Owner (without any payment).
So now that the Sweep and Auction have taken place, we have a number of Final Owners, each with a stake in an A-Team.
As you would expect, there are prizes for the top 3 teams.
However, in the spirit of LAWSKI, where we think participation is key, we are putting a healthy amount of the prize pool towards the 10th placed team – so even if the bidding for some of the favourites is too rich for you in the auction, you can still have some “ski” in the game and a reasonable chance of winning some decent cash!
On the basis of the race results, the Final Owner of the following teams will win the amount set out below:
- 1st Placed A-Team – 40% of the Prize Pool;
- 2nd Placed A-Team – 25% of the Prize Pool;
- 3rd Placed A-Team – 17.5% of the Prize Pool; and
- 10th Placed A-Team – 17.5% of the Prize Pool.
[NB - All teams that are not A-Teams are excluded for the purposes of determining placings]
Consortia are encouraged – pool your efforts!
Bidding in the 2018 Calcutta does not need to be a personal pursuit – so why not pool your resources! But make sure you have a designated bidder who knows how hard to push it on the night!
Form Guide & Disclaimer
The list of the competitors in each A-Team will be listed, and a form guide will be there, this Friday for all to study over a beverage or 3, so why not make your predictions as a group of like-minded professionals, and form a consortium to bid in LAWSKI’s first ever Calcutta Auction!
Remember, the higher the prize pool gets, the more the winners stand to win, and the more we support our nominated charity, Orange Sky Laundry (and in a tax effective manner!).
This is a new and exciting charitable initiative of the LAWSKI committee, where you can put your money where other people’s skis are!
So get involved – find some friends, bid high together, and enjoy the fruits of your speculative labour!
Don’t forget to be patriotic – support your firm’s A-Team, and remember that there is a prize for 10th place – so anyone could take home some cash!
Good luck bidders!
The LAWSKI Organising Committee
*Disclaimer: while we prepare the list of competitors and form guide in good faith, LAWSKI and the Organising Committee makes no representation or warranty as to the accuracy of that information. Any A-Team that is represented in the Helly Hansen LAWSKI Race by a competitor that is not listed in the agreed start list, or is ineligible to compete, will be disqualified in accordance with the LAWSKI rules (and thus will not place for the purposes of the Audrey Wilkinson Calcutta).