Fancy winning an apartment?

pagekarl

Hi im doin some research at the minute in relation to raffling off my apartment and am wondering how much interest there would be in buying a ticket -

The Raffle - The raffle will consist of tickets being sold on EBAY where a buyer purchases a ticket number betweeen 1 and "the final number of tickets to be sold, lets say 50,000 for arguments sake". Each ticket will be €5-10 each. The raffle itself will have legal documents drawn up by my own solicitor and all terms and conditions will be attached to the ebay purchase. The raffle will be held by a official adjudicator on line and a date will be attached to ebay for the raffle to take place so people can log on and watch the winning ticket being pulled.

The rules - It is my intention that a min number of tickets will need to be sold for the raffle to go ahead (again this will be mentioned on ebay). I these tickets are not sold then all moneys will be refunded via paypal.

Profit - It is not my intention to make profits on this raffle however advertising, tax, gaming licence costs etc will need to be covered within the number of tickets sold. The number of tickets been sold will be decided on ebay agreement therefore the buyer knows their odds will not vary i.e odds of 1 in 50k and not 1 in infinity.

Reason - :mad:Recession:mad: and dont want to sell apartment at a loss which in the current market is more than likely:mad:.


The Prize - The :Dwinner:D will be pulled out on the date mentioned on the ebay purchase. That person will then be handed over the deeds to a 1bedroom luxury apartment in a highly sought after location in dublin. That person will be mortgage free. That person will have spent no more than the charge of purchasing the ebay ticket.

Sound like somenthing you would be interested in?

The more positive responses I get the more chance this raffle has of taking place.

Cheers

:eek:

LFCFan

Sounds like a very clever way of getting past the housing market slump. I'd say at €10 a ticket you would get a lot of interest but I wonder would you sell 10,000 €50 tickets quicker than 50,000 €10 tickets? Good luck with it!

deadl0ck

Also remember that PayPal ain't free.
They take a cut of every payment you receive.
Also - if you have to refund (due to bad ticket sales) you'd have to actually refund more than you got, as if you pay money back to people, they will be hit with a PayPal percentage, so you'd have to give them a little more in order for them to receive the amount they first gave you.

Also - I think eBay only allows up to 10 days for an auction - probablly wouldn't be long enough to seel the amount you need.....

That person will then be handed over the deeds to a 1bedroom luxury apartment in a highly sought after location in dublin. That person will be mortgage free. That person will have spent no more than the charge of purchasing the ebay ticket.

What about stamp duty ? Or gift tax ? I'm pretty sure you couldn't just give it to someone as a prize unless you had it all squared away with the Revenue Commissioners first.....

daheff

I saw something in the papers about people doing this in England. Paper reckoned that you needed to get garda approval to run a raffle like this and that the winner would have to pay all their legal fees too plus stamp duty on the value of the total amount raised by the raffle..not the going price in the market.

still if you are still raffling it i'd stick me 10 e in!! you still get something worth more than you put into it

meditraitor

There was a similiar thread a while ago,

http://www.boards.ie/vbulletin/showthread.php?t=2055243921&highlight=house+raffle

http://www.boards.ie/vbulletin/showthread.php?t=2055321776&highlight=raffle+house

seems to be a lot of stumbling blocks to this idea

mick.fr

Some people are so financially desesperate that they think they will organise a rafle and get away with lots of cash.
Funny lol.
Lots of guys all over the country are trying to organise rafles to sell flats, cars etc...
All dodgy, stay away from them.

You can't do that without having a clerk/sollicitor backing up this rafle with written rules.
This person will manage the money too then there is no ambiguity.

biko

Not sure that you can just start a raffle without having a gambling license.
Also, if I don't win how can I be absolutely sure that someone else did in fact win?
You can put up a fake ad and sell fake tickets for all I know.

Dannyboy83

Between ebay/paypal fees and people getting illegal refunds through paypal, i think its a very risky idea.

ParkRunner

Better off renting it now than trying to sell it, cos who the hell wants a one bed apartment these days

Shelflife

pure and simple it would be illegal to do this, and a legal minefield to do it through ebay.

AARRRGH

If I was you I'd try to get RTE or TV3 involved to make a documentary on your process of getting the raffle up and running and eventually picking a winner. It would make interesting TV and would give a bit of authenticity to your raffle.

TestTransmission

Theres a bloke in Limerick/Clare doing it at the moment actually.

http://www.limerickpost.ie/dailynews.elive?id=9170