Bidding limit change
Date of appearance: 25-01-2003, season 18
We are now adding a new rule to the transfer list: You must raise the last bid with at least 2%. As before, it must also be at least 1000 Euro = US$1000 higher than the previous.
The old $1000 rule have been in effect ever since the transferlist was invented back in 1998 (season 3 in Sweden). In those ancient days, hardly any players were sold for more than $100.000 (can you imagine?!) and a typical transfer was at $50.000. Having a minimum step of $1000 per bid was appropriate then. Today, however, many players are sold at millions. Many people have expressed that they are frustrated with endless bidding duels where one or several of the parties raise the bid with only $1000.
Now, auctions are about finding the right price, negotiating until there is exactly one buyer left willing to pay a certain price. It is not supposed to be about who can endure the longest bidding duel. Hence the new 2% rule. We do not believe this will significantly affect prices on the transfer market. It will just make the road to the final price a bit less annoying for all parties involved.
Basically we are adapting the old $1000-rule to today's prices, and making it dynamic.
Some examples of what this will mean:
- Last bid on Player A was $500.000. You must bid at least $510.000. (2% more)
- Last bid on Player B was $50.000. You must bid at least $51.000. (2% more AND also $1000 more, so $50.000 is the edge between the old system and the new).
- Last bid on Player C was $10.000. You must bid at least $11.000. ($1000 more, the old rule taking over)
We realise that you don't want to be stuck with a pocket calculator while in a bidding duel. Therefore, the suggested bid on the player page is now always 2% higher than the previous.