From 100 to 1000 The auction is here!
The exciting conclusion (at least to me!) of my 100 to 1,000 challenge ends with my first step through the “portfolio auction” process. My account is currently at 143.17 in cash. I am hoping for at least 160 out of this auction so that I can “triple” my money. There is a bunch of good stuff left here! You can check out the auction here:
I really had no idea what to expect with the auction process, as it is a very rarely used part of Jockbrokers. Most people want to stay on the site once they start using it, so we don’t see very many of these. However, the process of auctioning your portfolio is actually way easier than I imagined. It begins by clicking the place for auction button found in the portfolio page.
After entering your password to confirm, you get this email:
We are sorry to hear that you are looking to sell out your entire portfolio using our bulk auction process but this is one of the great features of Jockbrokers that gives our users peace of mind that they always have liquidity in our market. Your request has been sent to our Market Specialist who will review your portfolio and offer you a starting bid for the auction. The Market Specialist will make you this offer within 5 business days. You have the right to reject the starting bid and either take possession of your cards or sell them individually in the market. However, once you have confirmed the offer from the Market Specialist, the Bulk Portfolio Auction starts and there is no way to change it. Our starting bid is simply a guaranteed price and we sincerely hope that you are able to sell your portfolio much higher but if no other bids are received on the portfolio it will be purchased by Jockbrokers at this price. Thank you for being a Jockbrokers customer. We hope that you will consider trading in our market in the future and refer others.
NOTE: When deciding to take possession of your cards please consider that they will no longer be eligible to earn Performance Bonuses or our patented Hall of Fame Buy-Back once they are taken from the Jockbrokers market.
Customer Service Manager
Within a couple of days, I received another email, with what Jockbrokers is offering for my portfolio. After following the link, I can choose my option.
Obviously in this case, I will be accepting their offer. This is only what jockbrokers is offering- hopefully traders on the market will pay more, however it is good to note that this is a pretty decent starting price, just off of what Jockbrokers is offering, so even if you are unhappy in the market and no one likes your portfolio, jockbrokers itself is willing to pay you a decent amount for it.
Now if I go to the auction, I see it there!
So as a worst case, the blog has made $240 over a year off of 100 bucks. Not quite where I wanted to be, but pretty darn good. I will do one more post about this as a wrap up. I hope you all have enjoyed it!