I put in that I'd gladly pay $50 for a chance at this beautiful car. But honestly I'd put down $100 if my chances were better.

If I won it I'd pass out. It'd totally turn around parts of my life right now.

 

I'm in for $100!

 

I voted for 50

 

i put $75 because you said there would be a ticket limit
hope everything works out for you

 

as everyone else with a limit I would go with probably 100 but at 30 I already showed your car to several people at work and for 30 with a limit of 1000 people they are down and thinking of ways to tell their wives if they win.

 

Sorry I haven't responded in a while. I still don't have the internet at home with wires being down around here, so I can only get on here at work.

Thanks for all the support, everyone. I think I'll let this poll sit over the weekend and get some more votes. On Monday, depending on what the numbers here are, I'll get in touch with a lawyer and see what my options are. If for some reason it is illegal here, we could possibly hold it in another state.

I think $50 a ticket still might be the way to go. It's not too much, but you get decent odds. The ones wanting to pay $75 or $100 for better odds, just buy two tickets and you double your odds from 1 in 600 to 1 in 300.

 

So what you are saying, Ian, is that what ever the ticket price, the number of tickets will be set to get around 30k? Good.

Hope you are successful. One ticket here. Maybe two.

 

$30k is what I'd like to get for the car. No more. But... and I posted this in the other thread rrobello started... when you take into account that I will most likely have to pay taxes on this (close to $3k) and paypal will take their 2.? fee and 30 cents on every transaction (close to $1k on $30k) I would only get around $26k at the end, if you include having the car transported to the winner. This is, of course, if I have to pay taxes on the money from the raffle. I wouldn't pay taxes if I sold the car... but this may be different. Looks like I'll have to get in touch with the IRS also. :bang: There wouldn't happen to be anyone on TMS that works for the IRS or knows about taxes, hmmm?

 

Come on you know even the IRS doesn't know about taxes.

 

That's true! What was I thinking?

 

Already did. A beautiful Redfire GT Premium Convertible, $20 to the local volunteer fire department. I didn't win.

 

Heh, I'll go for it if its 50.

Hey did anybody check out the Corvette Museums 500 ticket raffle for a Z06? 500 bucks a ticket. I think they started it a year ago, wonder how quick it sold out?

 

So far the poll has >50 people who will pay >$50, so I'm optimistic about it working, since you only need to sell ~600@50.

That is a good point though about taxes and whatnot. Perhaps whoever you find to act as a 3rd party would know more about it. And there is the Paypal off the top. Complicated! If I win though, I'll drive and get the car and save you that (and I'd also put on those SSE Gen2 louvers). Perhaps you should figure out how much you lose off the top, and account for that by adding a few more tickets for a target of $32,000 or something.

As for selling the tickets, I would think it good to sell in a tiered fashion. First dibs for TMS members for x days, next open it up to other forums or something, next public until they're all sold. I wouldn't be surprised if the TMS members ate it up though. Heh... if this works too well, we'll have people auctioning their '05s for $60K so that they can afford a GT500

 

I've been making phone calls trying to find out some info from some lawyers and a CPA friend of mine. Hopefully I'll have some concrete info early next week. From what I'm hearing so far, taxes will need to be paid on the money. I figured as much. I could either charge $55 a ticket instead off $50... to keep the number of tickets (and the odds) the same... or keep the tickets at $50 and sell about 50 more. As long as I account for taxes in the ticket sales, I'd have no problem cutting my losses on the paypal fees. That won't be too bad. I could take care of the transportation fee, as well.

I still want to wait until after this weekend to see how the voting goes. But, you are right... as it looks now, the chances of selling 600 tickets looks very possible. There are still only 110 votes though. I guess that's a lot for a poll, but come on people... everyone please vote.

I was talking to someone about raffles, and they said a month would be a good amount of time to hold the raffle. The first 2 weeks would be for TMS members only, as well as their friends and family. I know 50 bucks isn't a whole lot of money... but some people (like yours truely now) live paycheck to paycheck... so that would give someone who wants a ticket time to get paid first. The third week would be for other Mustang forums. And if any tickets remain, the last week would be for the public, and I'd post something on eBay.

If this does happen, I'd most likely start it November 1st and it would run through the 30th. So, those who are interested, put a little money aside just in case. If it happens, you'll be ready... if not, you'll have some extra cash. The winner would be picked December 1st... and someone would have a heck of a Christmas present.

 

At $55 would buying more be ok?

 

Sorry, it's Friday and it's been a long week. I'm sure that question would make sense to me on Monday... but I'm lost. What are you asking exactly?

 

I'm sure that Acadian would be happy to sell you 599 of the 600 tickets if you wanted them, though it might make more sense to buy the car then It wouldn't be cool if someone else got the car with the 600th ticket

 

i was asking if you would want to limit the ticket sells to one per member?

There have been some raffels i have been at where a person could only purchase 1 ticket. That is all.

I was thinking something like 2 tickets.

 

Ian,

You are pricless, we are happy to hear you are out there. $100. per ticket just doesn't sound fair. It should be more. Look at all the love you put into that car. I know the hurt you must be feeling now. I wish there was another way we could help. I hate to see such a good guy loose his car. I voted but, I don't controll the money bag here. But I know Steve would support you too. We will check in as you find out more. Looking forward to helpping!

Starr

 

Starr, thanks a lot. I surely didn't expect to get the kind of reaction I have been getting from members like yourself. I will post more information early next week when I find out more.

And as far as limiting tickets to one per person... I think people should be able to increase their odds by buying as many as they want. So, you could definitely buy more than one if you want.

I still don't have internet at home with lines being down... so I won't be back on here until Monday. But everyone please keep voting.