$55 sounds fair

 

Acadian, I sure hope all works out for you. I know you have been getting a good reaction on all of this, and I am happy for ya. When and if you do raffle her off I would really like to know, because I know I would like at least 2 tickets for sure, maybe more. I showed my husband your pic and he also said he would like to have 2 mustangs...lol. If I had the money outright I would just buy it, but I still owe the bank on mine.. Good luck!!!

 

Ian, man, I know this is a tough time, but I hope you're feeling the love here on TMS!!! You can count on me for at least one ticket, even if its $100, more if its $50 though, and I'd drive down to LA and meet you to pick her up, so you could save on the transport!! Used to live in Lake Charles, so I got an idea how things are down there from some of my old buddies that still live there. John

 

$50 or whatever you decide. I will buy one. I am so sorry you are having to part with it. It is truly one of a kind.

 

Thank you all for the support. :worship:

The raffle looks like it will happen. If it does, the plan is as follows:

- The raffle will start Tuesday, November 1st.
- Tickets will be $55 (The $5 more is to cover all taxes I will have to pay on the money)
- 600 tickets will be sold
- The first 2 weeks of the raffle, I will post a link here on TMS to a webpage with some pics and info on my car. There will be a link there to pay through paypal. For anyone who doesn't have paypal or who doesn't want to transfer money on-line, there will be a link to a printable mail-in order form to fill out and send in with a check or money order.
- I will get 600 3"x5" index cards Once I start receiving payments I will write down the name and address of each person who buys in, and at the end all index cars will be folded in half and the winner picked. For those of you who voted $20 or $30 in this poll... I have a solution. Simply send in $18 or $27 (whatever you would prefer) and what I will do is put a “/2� or “/3� by your name. When I go to write your name on an index card, I will put your name on the card with either 1 or 2 other people who sent the same amount as you… 2 who sent $27 on the same card, 3 who sent $18 on the same card. If a card is chosen with more than one name, it will be cut directly in half, or into thirds, and then those would be folded in half, put in a hat and the winner chosen. So, your odds would be less... but this would give others the opportunity who may not want to put in $55. While also keeping the odds the same for everyone else.
- The raffle will be held through the month of November. The first 2 weeks, the website will be posted strictly on TMS for members, family and friends. The third week, I will post on a few other Mustang forums... and anyone who is members of another forum or Mustang club where you can spread the word, then would be the time. The fourth week, if any tickets remain, I would post on eBay by starting a 7-10 day auction where the "Buy it now" price would be $55 for a ticket. Of course, this depends on how quickly the tickets sell. If they are sold out anytime before the end of the raffle, the winner would be chosen the next day.
-The winner would be chosen December 1st... also depending on if it lasts that long. And the winner will be chosen at a third-party location. I have a friend who is a CPA. I may possibly hold it at the CPA's firm where someone else (besides yours truly) would pick the winner. That makes it fair for all of you… as well as makes it easier on me.
- If the 600 tickets are not sold by the end of November, it would revert to a 50/50 auction. A winner would be chosen out of the entries. The winner would receive 50% of the money made, and I would receive the other half. As far as my 50%, I would use that to supplement the money lost on my car when I would be forced to sell it for less than I would make doing the raffle, and whatever was left over would be donated to Katrina relief in TMS's name.

Any input or ideas on the raffle plans I have so far would be greatly appreciated.

 

I'd buy a ticket. But question, have you checked the legalities of holding a raffle?

 

That's the final thing I need to find out. Nobody I talk to down here seems to know anything. I may have to call an actual lawyer and I'm sure they'll charge for that information. If it turns out to be illegal in LA, I can try to hold it in another state.

 

As a side note, if its is legal, you can also check eBay and if see if its allowed there on a buy it now basis type thing. My guess is not, but its probably worth checking.

 

Honestly, for something worth this much, I doubt a private citizen could hold a raffle for it. I would think that you would need some kind of gaming license. A way to get around this may be to make up some kind of contract with a organization that does have a gaming license and "donate" the car to them for the purpose of holding a raffle. You would probably have to throw some money at them in order to hold it. I'd also be VERY specific about the terms of the raffle, otherwise I'm sure they would also want to sell their own tickets.

 

A couple of comments...

Why not make tickets cost just 20 or 30 if you are going to allow 'partial ticket' and multiple ticket sales? It would be the same odds (pretty much), just a whole lot simpler.

Looks like you are shooting for 33,000 to be raised. That doesn't leave much left over for Katrina relief. You'll raise more than I have, to be sure, but it wouldn't suprise me if you could raise twice that. I look at it this way: Is the point to give someone good odds of winning, or to raise money? If it is the former, I'd think more legal issues arise. I think most people here would list their reasons for buying a ticket as 1. To help you out; 2. To help Katrina victims; 3. Chance to win a female dogin' car.

Just my $0.02.

 

Just a thought. I would be suprised if an individual can have a 50/50 and keep 50%. And, I don't know about where you are, but in Michigan a 50/50 cannot be for more than $200.00 without all kinds of lottery permits.

I would talk to a lawyer about this before you make too many plans. People seem to be getting excited and you'll want to have your ducks in a row before you start giving out too many details.

These are just my thoughts, take them or leave them.

 

It looks like one: it must be for a chartiable cause (and I'm not sure selling your car falls under that category) and Two: you have to have a license to do it.

http://64.233.161.104/search?q=cache:cPa4S...ty+raffle&hl=en

Also, according to the IRS website, the winner would have to add this to his yearly earnings at full market value. The winner would also have to pay to have it tax titled and licensed in their home state at FMV (with tax being the big one here).

Its very probable, you'd also have to report any income you made as part of this as well.

Louisiana
Dept of Justice/Office of the Attorney General
Consumer Protection Division
P. O. Box 94095
300 Capitol Drive (70802)
Baton Rouge, LA 70804-9095
225-326-6465

http://www.ag.state.la.us/

http://www.ag.state.la.us/ConsumerRegForms.aspx
Department of Justice
Gaming
365 Canal Street, Suite 2730
New Orleans, LA 70130
504-599-1149

That's also who you can contact regarding this. I'm not trying to burst your bubble, but I found all of this information in about 3 minutes worth of googling. I'd hate for you to get to involved in setting this up, only to find it either wasn't legal (probable outcome) or not worth your hassle/time.

Also, it looks like you'll pretty much be out of luck finding a state to hold it in. From what I could tell, all states have Raffle Laws setup through their consumer affairs protection division. That may not be completely accurate, but I don't have another 3 minutes to google it.

 

I appreciate all the info and ideas. I contacted a couple lawyers at lunch today and we'll see where that goes.

I apologize if I am getting anyone's hopes up. That's just my optimistic nature, I guess. I also have the mindset that there's a way around anything... so I'm just confident I can figure out a way to do it.

As for making tickets cheaper... I had originally wanted to make them $50 to have the odds higher. But, after thinking about it, Cornelius is right. The best thing to do is make tickets cheaper... like $20-$30. For those that would have paid $50 or even $100 for a ticket, just buy multiple tickets. You have the same exact odds if you buy one $50 ticket when 600 are sold as you do if you buy two $25 tickets when 1200 are sold.

Now, about trying to get the minimum out of the raffle... that's the whole idea. If $33,000 is raised, that's all I would want to pay off my car, half of the mods, paypal fees to transfer the money, possible legal fees and taxes. As well as transporting the car to the winner. The idea of this raffle would not be to make money for Katrina victims, but to get more for the car, as to help out a single Katrina victim... me. At first I had the idea to not sell a set number of tickets, raise as much as possible, and give what's left over to a charity for Katrina relief. But, I think the only way to sell that many tickets is to limit the odds... so that people have a decent chance to win.

 

Jeffrey, thanks for the info. I had read that earlier today. It says nothing about individuals holding raffles though... just organizations. Groups sometimes will have stricter laws. That's why I contacted some lawyers and will find out whether or not they can work around anything and make this happen. Lawyers have ways of seeing through the fine print, especially if it will make them money. Of course, then you can add my huge legal bills to the fees I'll be paying. In the end, I might make as much selling it on eBay. Only thing I don't like about that is I have no control over who gets the car. At least if I have a raffle, and post it strictly here and other Mustang forums/clubs for 3 weeks, the chances of a fellow Mustang lover getting my car is greatly increased.

 

I'm in and ready to put $500.00 at whatever the ticket price is!!!!

 

Ah. I see. I got it in my head differently at some point.

 

Im still in but keep it at 50 bucks. better odds. Also keep it in with the forums

 

I'm glad you posted this... not so I can correct you but so I can use this as an example. I am sure that a lot of people are assuming that if you sell the tickets at $50, you'll have better odds than if they are $25... and you will have even better odds if they are $100. But trust me, because I did the math, you have the exact same odds if the tickets are $100 a piece (300 sold) and you buy a single ticket as you would if the tickets were $25 (1,200 sold) and you bought 4 tickets. So, if the tickets are $25, everyone can get in on it. The ones who just have a little to give and like the smaller odds for the money... as well as the ones who want to increase their odds and/or give more.

So, if the tickets end up being $25 a piece, just buy two tickets. You'll still have a 1 in 600 chance... same as you would if they were $50 a piece and you bought just the one.

 

'bout time one of us gets a break...sign me up for the charity raffle, i need a second car!

 

Acadian,
Hey bro i sent you a email with an offer on the raffle, not a bid but a way to help advertise your raffle to all who participate.