Just trying to judge the appetite for a little Rolex Raffle, I'm thinking of raffling off my 5513 at say £50 a ticket with a minimum of 80 tickets (to allow at least a 10% donation to the fundraiser)
I've floated the idea with Eddie who has no problem with it but there's no point taking this to SC if tickets wouldn't sell.
I could have sold the watch 10 times over already and at a fairly decent profit but I've sinned enough
Suggestions ? How would I collect payments and pick a winner ? Would enough tickets even sell ?
I don't think you would have an issue selling the tickets.
I think most here would bite your hand off for 1 or 2.
I know I would. The fundraiser gets a health top up and the punters get the chance or own a nice watch.
Re drawing the tickets I am sure someone who has undertaken a raffle here will point you in the right direction.
Depends if you outlined the number of tickets you planned to sell. If you were selling 80 I'd have a punt. Anymore I probably wouldn't.
Pick the winner by using the bonus ball on the lotto as the "draw", assign each person a number naturally.
Great idea. count me in for a ticket.
One thing that helps the enthusiasm for raffles is the knowledge that it's basically a charitable donation with a slim chance of ending up with a watch added on. This is the other way round - a gamble on winning a watch with the knowledge that at least a charitable donation will also be made. Presumably the all-round appeal of the prize will balance that out?
Plus oneOriginally Posted by johny
Good luck everybody. Have a good one.
I think that you will need to get enough people to sign up before making their donations. Are you basically saying that anything over what you paid for the watch will be going to the fundraiser?
I'd buy a ticket. But 80 x £50 gives you £4,000. If have thought the current market price for that watch is above that? Would you really want to get rid of it for less than £4000 (depending how much you donate to the fundraiser)?
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Are you planning on 80 tickets max? Or anything above what you paid for the watch goes to the fundraiser?
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It was £3750 on SC last month hence the rough calcs suggested. If the balance exceeding cost + p&p were going to the fundraiser then it seems a fine idea. No reason why you couldn't open a thread seeking commitments to buy based on a minimum number of tickets being sold within a set timeframe, if/when that's reached seek payment to avoid any hassle of having to refund.
I'd get involved
Unless it raises a considerable amount above value for the fundraiser, I'd say it's a lot of hassle.
I'm sure you'd sell 100 tickets or so - I'd certainly buy one. Great for the fundraiser.
It does seem like alot of work on your behalf, but I suppose if you get the 'sale' then perhaps it is worth it.
A raffle also gives someone a chance of obtaining a typically higher priced piece who is perhaps a few years away from doing so otherwise.
I have seen it done with classic cars on a couple of forums , first time it was done the raffle was a sure fire sell out with the winner being the bonus ball . It was done on i think £100 a pop then the winner of it tried cashing his car in with another raffle that fell a bit flat so basically its a one hit thing as it gets drawn out a bit getting people to cough up via paypal friends etc
Sounds like a logistical nightmare for a watch sale.
Easier to stick it back on sc surely?
I'm sure you are right.
A donation to the fundraiser could always be made after sale.
Cheers,
Neil.
While I personally think it's a great idea, the following might be worth a read before committing.
http://www.bbc.com/news/uk-41124992
http://www.gamblingcommission.gov.uk...promoting.aspx
If you run this "raffle"
You need to declare the number of tickets as it will provide the odds.
You need to declare the amount going to the fund raiser.
As for how to collect the money - you need a paper trail of some sort so bank transfer or cheque would be my suggestion.
Sounds like fun and I for one would have a punt.
As has been said, i think it would be important to limit numbers as that way odds are better
Count me in too
I'd be on for that.
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Count me in too
I'd be up for it also, sure you'll have no problem getting 80 tickets sold!
I'm in for a shot
I'd be up for it.
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I think you also need to specify the future owners 'right' to dispose of the watch as they see fit in the future...
Would there be any expectation to offer the watch back to the community - and at what price?
Count me in.
With all these count me in's, you might want to start creating a list of names in your original post.
If the idea is a goer, you will be half way there
Intriguing idea, with 80 tickets I'd be in for a ticket
I would be up for this too! I have done a few raffles before, although not for money (music software) and used a random generator to pick a winner. This would usually be done via Facebook live feature or a phone recording then posted to YouTube
I would be happy to get involved.
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I'd certainly buy a couple of tickets. But as said, fixed number of tickets and definite donation figure would be sensible.
Nice idea and I'd be interested in participating if it goes ahead.
However the rules seem to be that raffles can't be run for private gain, so unless you are donating all proceeds from ticket sales to the fundraiser, I don't see how this could go ahead.
If it did go ahead you'd have to have a defined number of tickets for sale at the outset, and for the fundraiser to get a nice sum there would probably need to be a lot more tickets than you are suggesting if you are wanting your money back too.
I don't know if it is possible to restrict who buys a ticket, how many they buy, or what they can and can't do with the watch if they win. What if a known SC hoover bought half the tickets and won then sold the watch elsewhere for an instant profit?
It is a lovely idea but seems a lot of work for you, and potentially only a small contribution to the fundraiser, with potentially a lot of recrimination and unpleasantness if the 'wrong' person wins.
A generous idea but sounds like a headache for you. A 1 in 80 chance of a Rolex is probably as close as I will ever get, I would love to take part but would anticipate being low down in the order given my newbie status especially if more established members were keen to enter a limited number draw.
I will follow this with interest, look forward to your decision.
I'm game. The last one that went in a raffle (in aid of the earthquake victims in Nepal) went pretty well I think.
Surely a raffle is random so you have as a good a chance as anyone else? Great idea OP
I'd be in.
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I meant in terms of ticket distribution. I dare say there would be more than 80 people interested, would it be first come first serve?
There was a significant difference. When Dave donated a Rolex to be raffled with all proceeds to Nepal earthquake charities there was a huge uptake because every penny went to excellent causes close to his heart and the community really appreciated the sacrifice on his part. That raised well over £10K. I may be wrong but the way I read this is that the OP wants to recoup what he spent on the watch so this stands to benefit the fundraiser to the tune of £400. Still a nice boost but personally if only £5 of my £50 is going to the fundraiser then I'll just make a donation instead.
Sounds too tricky Ally
Maybe better selling it for purchase price and if buyer fancies donating some to the fundraiser then so be it.
I would get involved in a ticket if it went ahead though
It was an incredible gesture which was further endorsed by everyone who participated thereby raising a huge sum for charity. The format of a raffle worked well, and would do again I believe, regardless of the way in which revenues are distributed.
As there seems to be no profiteering, this raffle option offers a level playing field giving many people the chance to own a nice watch which might be otherwise outside their means (or inside, it doesn't really matter), and the community gets a further boost from the endeavour, I would be happy to participate in this one too.
Fwiw
Selling it would be the most straightforward way.
I'd be happy to just give you the £4000 for the watch, you can donate the £250 to the fundraiser and everyone's a winner.
I'd be happy with my purchase, you'd get your money back and the fundraiser benefits to the tune of £250 anyway. It's no different to 80 tickets at £50 each but no headaches.
Let me know if this works for you.
Which neatly leads onto the alternative way of selling, an open auction with the value over the purchase price being donated to the fundraiser by the buyer.
I'd be up for £50 per ticket. If you don't get 80 bites could move it to £100 per ticket. Worth it for a 1/40 chance surely.
I think the issue here Rick, is that the watch is seen as a bargain and there are plenty of us who would happily do as you're offering (probably including ALL the stealth dealers).
I think the OP is trying to find a way of selling the watch in as fair a way as possible.
Certainly an open auction with the original purchase price going to the seller and the rest going to the fundraiser seems to be the ideal solution to me.
A raffle would just leave a lit of people disappointed as only a relatively small portion of the cash would be going to the fundraiser unlike Dave's Exp II auction.
Keen to see how this pans out. It appeals to my sporting nature
I understand.
I'm sure I'm not the only person who would happily pay £4K, in fact I've Offered it twice to Ally before this thread came up.
I'm merely putting my money where my mouth is, in that 80x£50 is still £4K but no risk of not selling the 80.
If someone wishes to offer more than £4K I'd happily step aside in the spirit of the forum and the fundraiser!
100 tickets at £50 a pop with £1250 to the fundraiser sounds more appealing.
Indeed. That's what I shall do if I decide to go ahead with this.
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