Using both rank order, and weighted points preference provides the truest interest from participants. Then the items are awarded, finding the highest point item submitted, awards it to the “winner” but only charges them 1 point more than the second highest bid. The game changer, is that all unused points for both the winner and the loser of the awarded item, flow to all of their remaining available items, increasing their chances of winning those, and continuing to update their real preferences with each pass.
What is unique about DYBBS is that it uses a ranked ordering system, and a points allocation to best reflect the weighted interest the user has on each item. These points and ranking are done privately, and not viewable by the other parties, resulting in a more true indicator of interest. Before the points even come into play, the participants can immediately begin arranging and sorting their items to the top, middle or bottom of their wanted list, or moving things to unwanted. This again, saves so much time as the user can immediately start the process of selection and organization as they review what is available.
When the algorithm awards the items, it looks for the item with the highest point total and awards it to that person, but only charging them a point more than the second highest bidder. Their unneeded points for the win, are redistributed to their available assets in the same ratio as the original points awarded.
The losing bids on the item are also redistributed to the remaining and available to win items on their lists, also proportionally to their original weighted distribution of points.
This system ensures that there are no wasted points. One is not penalized for overbidding on an item, or left with less winning currency to win other items on the list. It is as though the bidder is at a live auction and redistributing to bids to boost the chances of winning the other items.
In the event of tie bids, the rank position determines the winner and if it occurs multiple times a snake ordering tracking ensures that the winner is selected blindly and fairly. The efficiency and fairness of this vs. any other way to divide is truly game changing. If wanted, an unlimited list of items can be distributed in a single round.
Trustees, executors, mediators and estate planners helping their clients and families work through tangible personal property will find this process is intuitive and time saving. Having it all take place online greatly reduces conflict, scheduling challenges and travel costs.
Sign up to receive early access notification when DYBBS is live.
