A Corvette Raffle question

[chick]

Has anyone every participated in a raffle for a corvette or any car? How did it work? What was the price of the ticket? What was the goal of ticket sales, was it equal to the total collected?

How was it delivered.

I need any and all information on a raffle for a corvette.

We 'may' be having a raffle in late spring, 2007 and I need to research this and get input now.

[hotwing]

I'm not sure of the details but the Sunfest in Ocean City Maryland had a raffle for a 1967 coupe for 10 bucks a ticket.....I didnt win

[chick]

At $10 per ticket they had to sell an awful lot of tickets, right? I mean, if they only sold $10,000 in tickets they couldn't possibly part with the car?

[hotwing]

Come to think of it .....it is strange .....but the contest lasted all summer and there are a lot of visitors that come to OC Maryland

[chick]

I see. Anyone else that can assist with particulars on a raffle? Would it work here?

What would be a fair cost? $25 per ticket?

Obviously we do not have enough members here yet to fund a raffle so we would have to initiate something concerning that issue.

Oh well, it will be a thought until I can put something together... at least on paper and when I have time.

[TomW]

I've seen the Museum raffle cars every once-in-a-while. The tickets are expensive ($500), but the number of tickets sold was limited to a couple hundred.

[ChuckG]

The Dearborn (MI) fire department raffles a few C6s a year. Local Chevy dealer donates them. Think it's $50 a ticket and they sell about 1000-1500 tickets. I've entered, but never won. Money goes to children's fire education, so it's cool.

[TheRobSJ]

Years ago, the big car show out here was put on by Santa Clara Corvettes. The big deal was that it was an indoor show and they raffled off a new Corvette every year.

A local dealer sponsors the club. They agree to sell the car (usually was a no option stripper) at cost. Tickets were raffled off at $20 a pop with a limit of only 2000, or maybe it was 2500 tickets available. Except...they weren't called raffle tickets. They called them donations. After the car was paid for, all profits would be donated to a charity. This created a selling point for the tickets since the money the people paid for tickets could be written off their taxes.

When the winner was announced, the club cut two checks, one for the car and the rest to the charity. And the winner paid the sales tax.

This way was the least headache for the club. Avoided any business licenses, taxes, and so on.

But this got to be a monumental pain to do using just volunteers. Someone would have to trailer this car around to other car shows or any other event they could that would get a lot of traffic throughout the summer and sell tickets. And the club members all had to sell tickets to their friends and family. Every year the check the charity got was less and less since it took longer to just get the car paid for. It may have been better to just contract a show promoter to do it all.

[ChuckG]

Remember too, one will be 1099'd for the value of the car. Uncle Sugar wants his share! A $40,000 Vette would cost me about $20,000 if I "won" it.

[chick]

Originally Posted by ChuckG

Remember too, one will be 1099'd for the value of the car. Uncle Sugar wants his share! A $40,000 Vette would cost me about $20,000 if I "won" it.

Ahhhh Well that ends this discussion