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Online parking permit auction continues — wheel on over!

September 1, 2010

Bidding continues in Chapman University’s C-Park auctions, with prices being updated every 30 minutes. Happily, for those of you who’ve already posted a bid for a spot in the new Villa Park Orchard lot, the prices are ticking down. And the auction for reserved campus parking spaces continues as well, with similar updates.

Meanwhile, the auction for Argyros Lot, arguably one of the most preferred lots on campus, opens for bids at 9:30 a.m. Thursday, Sept. 2. So get ready – as those of you who were here last year know, the folks who bid on the Argyros Lot got a fantastic deal – it went for only $20 over the baseline parking price, and for that, the permit-holders got access to a lot that offered opportunities for extremely convenient parking. We can’t guarantee the same results this year, of course, but you can never tell with auctions.

Auctions close when the number of bids placed at or above the current listed price is greater than or equal to the number of available permits.

C-Park auctions are falling-price auctions, or Dutch auctions. Participants benefit from the market dynamic of seeing prices fall rather than rise as more bidders enter the auction. For example, those VPO permits started at $50 and have gone down.

Winners of a reserved space may choose to locate that space in Lastinger, Barerra, or, if the winner is a faculty member, in Hashinger. The Lastinger Structure will not be part of the auction this year.  Access to Lastinger will be granted to those purchasing the standard $290 parking permit.

Visit the C-Park website at www.chapman.edu/parking for more information and a helpful tutorial on how to bid.

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