One thing that confuses me... ok maybe more than one, but I'll try to keep it to just one question... lol!
1. So, you build a bucket list, then pay the registration fee.
2. It's not clear exactly what happens next, because it says you're joining YOUR auction, but I don't see where other people can join your auction.
3. Based on my examination of the Overview section, I believe that there are only 3 actual auctions going on at any given time: $50,000, $200,000 and $1,000,000 auctions.
4. So while each person is competing in that one auction, say $50k, they are all playing for their own bucket list. You're not actually setting up an auction with the items you want to win and having lots of people bid on the same thing. Everyone is just bidding on the $ value as 1 auction and the winner gets his/her bucket list.
5. The more I read it over the more it seems that is the case. So, either I'm just dumb or you may want to re-think how some of your explanations are worded. If I'm correct, that is an even cooler concept than I thought before, but I still think you should start with smaller options as well. The buy-in doesn't necessarily have to be smaller, just the odds of winning. It's easier to justify going against 50 people than 2000.
1. yep. you could pay first and then go build your list, though.
2. let's say you join the gold auction. once in you'll notice it has a unique identifier...Gold 001 for instance. until we've reached the magic number of entrants, everybody else who signs up for the Gold auction will also go into Gold 001. Once we reach the magic number, the next person who signs up for Gold will essentially 'open' Gold 002.
3. In general, you're right. there could be more than one auction at the same level going at the same time, but that's highly unlikely.
5a. We're really going to have to spend some time and money on the explanation part. It's challenging to develop a game that requires a good deal of smarts and allows strategy to prevail, and at the same time explain it quickly and effectively. We'll do some more embedded youtubes and power points....any other ideas?
5b. There's a four-way balancing act with the numbers; entry fee - prize - odds - margin. What we've tried to do is offer a mix that would appeal to a wider range of customers. We're working on adding a lower cost, better odds, lower prize, lower margin auction.
How much would you be willing to pay to compete against 49 other players for how big a prize?