How It Works
The rules and format of the JFarbs Calcutta Auction
What is a Calcutta?
A Calcutta is an auction-style pool where participants bid on teams in a tournament. Instead of picking winners on a bracket, you buy teams at auction and earn money based on how far they advance. Think of it like a fantasy draft, but with real money and the madness of March.
The Auction
13 owners bid on 60 auction entries covering all 68 NCAA Tournament teams. Lower seeds (15/16) are bundled into packages.
Bidding is open — anyone can bid on any team. The highest bidder wins the team and is responsible for that team's price.
Salary Cap & Luxury Tax
Every owner has a $100 salary cap. For every $1 you spend over the cap, you pay an additional $2 luxury tax.
This creates a strategic dilemma: go all-in on elite teams and pay heavy tax, or spread your budget across more picks to stay under the cap?
This year's auction generated $4562 in item spending and $6524 in tax, for a total pot of $11,086.00.
Payout Structure
Every win earns a percentage of the total pot ($11,086.00). Payouts increase as teams advance deeper.
How to Win
The Calcutta Champion is the owner with the highest profit (total payouts minus total spending including tax).
You don't need to own the National Champion to win — smart value picks and multiple deep runs can outperform a single expensive team. It's all about the spread.