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I'll bite first
My school does an annual dating auction for Valentine's Day. It is sponsored by SGA and the people who participate come from a variety of organizations, Greek, social, service, etc. The event normally goes very well.
To minimize risks, all "dates" take place at the same time. Contestants and winners have a semi-private dinner together in the Presidential Dining Hall.
The only objection to this event has come from one of the school's psychologists. She feels that because we are a historically black school, we should not be auctioning each other off like our ancestors once were. Personally, I don't agree with her opinion. She's reading a little too much into the event, for me. I have yet to hear any other articulate and well-founded objections to dating auctions.
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