File puptcrit/puptcrit.0801, message 246


To: puptcrit-AT-puptcrit.org
Date: Tue, 22 Jan 2008 11:36:46 -0600
Subject: Re: [Puptcrit] Margo Rose Fundraiser


& here I thought it was an auction for a bottle of aged scotch  
whiskey! - mjm

On Jan 22, 2008, at 8:32 AM, Rolande Duprey wrote:

> Greg,
> A Scotch Auction is a timed auction in which participants each have a
> cup and some dimes (or pennies, nickels, whatever is required).  Each
> time you bid, you put a coin in the cup. As the bids go on, and the
> price increases, each bidder only spends a very small amount in
> comparison to the actual price. When the timer goes off, the most
> recent bidder gets the article.
> All coins are turned into the auction pot, so that the entire price is
> paid -- but is shared by the entire bidding population.
>
> Since the risk is small, and the return is possibly great, it's very
> thrifty.
> Kilts and bagpipes are optional.
>
> Rolande
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