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Rules of game

Market

MyGPTeam market is based on the drivers/components trading between the team managers. In order to put a driver/component on the market, the team manager needs to click on the driver/component, then the driver/component detail page will display and the team manager will be able to set the base price for the auction. In case the team manager clicks on the "put on sale" button without having set a base price, the auction will start from € 0 by default.
When the team manager puts on sale a driver/component, the auction lasts 2 days. At the end of the auction the driver/component is sold to the highest bidder. If there are no bids, the driver/component owner will find the unsold driver in the "Drivers" page and the unsold component in the "Storehouse" page. If more team managers are bidding for the same driver/component in the last auction minute, the auction will last 1 minute more. The name of the bidder is always hidden by the system and the auction end doesn't exactly coincide with the passing of the driver/component to the new team. For this to happen, the team managers should wait for an updating which occurs more or less every 30 minutes. In order to make an offer for a component or a driver, the team manager needs to make sure that the estimated availability added to the present pending offers (both in entrance and in exit) never goes under the amount of -100.000 € otherwise the team manager will not be allowed to make any further offer.
It is possible to cancel an auction inserted by mistake (or in which a too low base price was entered) within 15 minutes from the auction publication, only if no offers were made yet. This feature must be purchased through credits in the MyGPTeam market.

Driver's market The driver sale may cause 2 withholding types that MyGPTeam applies immediately: the early termination of the drivers' contract withholding and the capital gain one. If selling the driver implies a capital gain compared to the previous purchase made by the team manager, a fine is paid immediately according to the time spent by the driver in the team basing on the following chart:

Between 1 and 7 duration days in the team 100 % of the possible capital gain
Between 7 and 14 duration days in the team 85 % of the possible capital gain
Between 14 and 21 duration days in the team 65 % of the possible capital gain
Between 21 and 28 duration days in the team 50 % of the possible capital gain
Between 28 and 35 duration days in the team 30 % of the possible capital gain
Between 35 and 42 duration days in the team 15 % of the possible capital gain
After a 42 days permanence in the team of the "selling" team manager or if the driver is hired through the observatories or if no capital gain is made, the total agreed amount can be collected, unless other withholdings are present due to the early termination of the contract. The contract termination withholdings are visible in the driver detail page close to the renew contract/dismiss driver section.

In case a team manager sells a driver who hasn't been discovered by its talent scouts, the team that had discovered the driver will get an extra 5% of the selling price.

Component's market The team manager can put on sale every component that is present in his Storehouse, even the damaged ones. In this case, MyGPTeam will apply a withholding on the sale for the component fixing up and the team manager that is buying the component will receive the same cash bonus for fixing up the component. If selling the component implies a capital gain compared to the previous purchase made by the team manager, a fine will be immediately paid according to how much time the component remained in the team basing on the following chart:

Between 1 and 7 duration days in the team 100 % of the possible capital gain
Between 7 and 14 duration days in the team 85 % of the possible capital gain
Between 14 and 21 duration days in the team 65 % of the possible capital gain
Between 21 and 28 duration days in the team 50 % of the possible capital gain
Between 28 and 35 duration days in the team 30 % of the possible capital gain
Between 35 and 42 duration days in the team 15 % of the possible capital gain
After a 42 days permanence in the team of the "selling" team manager or if the component comes from the laboratory or if no capital gain is made, the total agreed amount can be collected, unless other withholdings are present due to the component fixing up.

If a team manager sells a component that has been built in another laboratory, the team that built the component will get an extra 2% of the selling price (i.e. not reduced from the price). Also, the team that built the component will always be able to see its skills until its destruction.

When a component is put on sale, the manager must take into consideration the fact that it can't be used for testing on the circuit, but it will be available for the official championships' races. If the component is not sold, it gets available again also for testing.
Moreover, the components that are on sale can not be repaired, since the repair costs, if any, are automatically calculated by the system at the end of the transaction.

Proxy bids for auctions
Within the components' market it is possible to place, rather than a simple offer, a proxy bid, indicating how much is the maximum that a user is willing to spend for a given component. This feature is available for all users, PM and not, and is purchased through credits in the MyGPTeam market.
The user who places a proxy bid will have visibility of what he/she has entered as the maximum amount to buy that piece, but this information will not be visible for the other players: in fact, the system will automatically put an offer, as lowest as possible just to overcome the currently highest offer and the base price, as it happens with the classic offers, and this will be seen by all other users as the current "maximum bid".
It is useful to remind that the minimum raise, on MyGPTeam, corresponds to € 1.000 if the maximum bid is equal or less than € 50.000, otherwise it is equal to 2% of the maximum bid. Therefore, if the current price is € 20.000, the minimum raise is € 1.000 and the offer to be entered must be at least € 21.000; if the current price is € 60.000, the minimum raise is € 1.200 (2% of € 60.000) and the offer to be placed must be at least € 61.200.

If a user has entered a proxy bid, when another user raises with an intermediate offer between the current one and the number set as the maximum amount by the first user, the offer is successfully placed, but immediately after the system will send a notification to the user who have just entered the offer, indicating that another user (the one who had placed the proxy bid) has raised for that piece. The current user can then decide whether to offer a higher amount of money than the one he has just entered.
Clearly, it may happen that there is already a proxy bid in place, when a user tries to enter one of the same type: in this case, two possibilities may occur:
  • – the new proxy bid is equal to or lower than the value which, increased by the minimum raise, corresponds to the proxy bid already memorized;
  • – the new proxy bid is higher than the value which, increased by the minimum raise, corresponds to the proxy bid already memorized;
Let's see what happens in these cases with real examples.

Ex. 1
Maximum offer: € 40.000
Current proxy bid: € 100.000 (not known by other users)
New proxy bid: € 80.000
Minimum raise: €1.600
€ 80.000 + € 1.600 = € 81.600 < € 100.000
Outcome: The offer is successfully placed, but a notification is received that informs the user that the current offer was overcome by another user. The maximum bid is updated to € 81.600 (the system automatically raises it) and the first user remains the highest bidder.

Ex. 2
Maximum offer: € 40.000
Current proxy bid: € 100.000 (not known by other users)
New proxy bid: € 110.000
Minimum raise: €2.200
€ 110.000 + € 2.200 = € 112.200 > € 100.000
Outcome: The offer is successfully placed and two confirmation messages are displayed in the page (the second one indicates that the user is currently the highest bidder). The user who entered the first proxy bid receives the notification that his/her offer was just overcome. The maximum bid is updated to € 98.041 (€ 1 more than the amount that, if raised, would lead to € 100.000) and the second user becomes the highest bidder.

According to the above logic, to completely explain how the system works, we want to clarify that it is possible to overcome another user even by entering an amount that is lower than the one that was placed as a proxy bid by the latter.
Let's consider the next example:

Ex. 3
Maximum offer: € 40.000
Current proxy bid: € 100.000 (not known by other users)
New proxy bid: € 99.000
Minimum raise: €1.980
€ 99.000 + € 1.980 = € 100.980 > € 100.000
Outcome: The offer is successfully placed and two confirmation messages are displayed in the page (the second one indicates that the user is currently the highest bidder). The user who entered the first proxy bid receives the notification that his/her offer was just overcome. The maximum bid is updated to € 98.041 (€ 1 more than the amount that, if raised, would lead to € 100.000) and the second user becomes the highest bidder.

This confirms that the amount entered when defining a proxy bid is precisely the maximum amount that you are willing to spend for a component: to raise on € 99.000, the system should have proposed € 100.980, which is a price higher than the value entered by the first user (€ 100.000) which consequently loses the auction.

We remind you that in the case the site is not reachable because of technical issues, transfers will not be delayed, shifted or cancelled.