Can someone briefly explain how the slow auction works???

[Little Johnny]

I've done live auctions, but I've never participated in a slow auction, such as those held here at the cafe. Can someone please explain how these work???

Thanks!
Johnny

[Plindsey88]

Basically the same as a live auction....

Usually everyone nominates a player for bidding in round one.... If there are 12 teams, then round 1 consists of 12 players up for bid.... Bidding usually takes place on a message board, with a thread devoted to each player up for auction.... You progress until all 12 of those players are "sold." Usually you set a 12-hour or 24-hour time limit for selection, and if that amount of time passes after a given bid without a higher bid, then that player has been "sold" to the highest bidder for whatever his highest bid was... Once all the players from round one are "sold," everyone nominates another player and round two begins with another 12 players.... This progresses until all the teams in the league have filled their allotted slots and/or run out of money....

Then all the remaining players make up the free agent pool, just like in a live auction....