You can download a copy of these Montgomery Calcutta Instructions here.
Calcutta 101 – A Primer in How to Go Skiing and Still Come Home With Cash!
Ahoy all 2017 LAWSKI-ers
Congratulations on being part of LAWSKI history!
The LAWSKI Organising Committee is pleased to announce a new and exciting initiative of LAWSKI for season 2017:
THE MONTGOMERY CALCUTTA SWEEP & AUCTION
Please read this carefully – YOU MAY WELL WIN CASH PRIZES – see below!
2017 will see the holding of the inaugural Montgomery Calcutta event, much like those sweeps & auctions you might have seen for the Melbourne Cup.
Relevantly, the Montgomery Calcutta will be run in respect only of the 21 registered “A-Teams” (whether composite or non-composite).
Introduction to Calcutta Sweeps & Auctions
The Montgomery Calcutta is a 3-leg process involving:
– first, a sweep;
– secondly, an auction; and
– finally, the running of the Helly Hansen LAWSKI Race.
The sweep for the Montgomery Calcutta was run at the Registration Party (last Thursday 27 July at The Flynn). All LAWSKI 2017 participants (racers, spectators and guests) were in the running, whether they attended or not.
We publicly drew, alternately, the name of each of the 21 registered A-Teams (both composite and non-composite), and the name of a LAWSKI 2017 participant (such person being a “Preliminary Owner” of that A-Team).
We now have 21 Preliminary Owners, each ‘owning’ one of the A-Teams…and here they are:
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 Audrey Wilkinson Welcoming Party this Friday at the Keller, each of the 21 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 21 A-Teams; and
– subsequently, a quick live auction to finalise the bidding on those same 21 A-Teams.
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).
[NB – if the relevant Preliminary Owner is not in attendance, they are still entitled to any payment determined in accordance with the above]
So now that the Sweep and Auction have taken place, we have 21 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 LAWSKI 2017 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 Montgomery Calcutta).