I like the concept of making the content the challenge rather than poopsocking, batphoning, or rules manipulation however I think large chunks of the guilds involved would feel very left out as they were not allowed to participate in the raid b/c they are not one of the top 18 geared players in their guild.
I agree with ravager that it would be fun if a gm wanted to take a raid mob a week to do this as an event rather than the status quo. For that matter a gm doesn't actually have to be involved. Guild leaders could perhaps agree to try this once a week on a mob mutually agreed upon.
I personally would want to modify the rules so that if the lowest bid wipes the next guild can add +2(or maybe 3) players to attempt. This adds a slightly greater punishment for over estimating your delta squad.
One could imagine other such challenges guilds could create with one another depending on the target. Could bid time to clear to fear and engage CT for example (obviously more detailed rules would be required, perhaps just require that CT is only mob left when engage). This is really a 1 shot game so you would want to be really careful to not bid less than you can handle. Could do silly things like each guild tries to get the most spiroc lords in 15 minutes they can and winner gets dojo. Obviously none of these things could be the status quo, but if guild leaders wanted to arrange such events I think they would be a blast.
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