talizman

iTrader: (1)

It seems that folk trying to sell their cars are resorting more and more to running a raffle to raise the funds.

I first saw this a few years ago at Stanstead airport where a TVR was up for grabs, and have since saw several companies who seem to do this as their main business.

However, these raffles are usually for more "exotic" machinery, and the raffle usually draws in at least double the cost of the car, in order that a profit could be made.

Now, I have advertised my RB5 on most of the forums and the interest has been slow to say the least.

I wonder if there would be more interest if the price was £15-£20 as opposed to £14,295 ono!

Does anyone think this is a good idea/viable prospect?

If so, how much per ticket and how many to sell?

How would it be run?

I assume that an official body would require to oversee the sale of tickets?

Is any kind of licence/permit required to run a raffle like this?

So many questions.....

My idea was, to sell say 1000 tickets at £20 each, raising £20,000 with the cost of the car going to yours truly, and the balance perhaps to a charity voted for by SN members?

If all the tickets did not sell then the proceeds would require to be refunded to the buyers.

A solicitor may require to write up some kind of legal document with clauses to protect all parties.

The draw could then be made at one of the national meets and overseen by an independent adjudicator.

Surely a one-in-a-thousand chance of winning the RB5 for a measly £20 would appeal to the masses?

What are your thoughts and/or suggestions?

Who wants to buy a ticket?

Webmaster, you want onboard? Good publicity for SN!

Cheers!

SiDHEaD

I'll have a ticket @ £20

billythekid

Considered this myself - as a one off it could work.

I was planning to try and do this with Caterhams, £10 a ticket and 2000 tickets sold. Use internet to sell etc.

There is a fair bit of red tape (cant remember details now) to get past but it is possible - would lower it to 10 quid though as the sample I asked said their max is £10 for a car worth 20k.

Best of the Best seem to have the market under control when it comes to supercars!

supersarbs

I wouldn't be able to resist a raffle!!!!

Jamo

iTrader: (23)

id have one

mart360

if i remember rightly, there is some grey areas that need investigation,

you need to specify a time limit, as you cant have a car for sale for years and punters waiting. you also need to take out an insurance policy to cover you for the possibility of not enough tickets being sold. car being stolen etc.

also as the car is technically s/hand, you would need to offer some sort of warranty i believe.

most people sell there house, factor in the car price, and give it away free


LOL

mart

£20 for a ticket, id much rather go for a porsche at £30!!

gatwick airport!!!

mannin

You would be required to obtain a lottery licence to raffle it, the only way round this is to turn it into a game of ‘skill’.

You can for example make people answer the qualifying question which company makes the RB5.

This way it becomes a competition, partially based on luck……….

talizman

iTrader: (1)

Why insurance?
If not enough tickets sold then you simply refund whatever tickets sold to date.
If stolen, it is currently insured anyway, so no problems there.

Why?
Second hand cars sold privately are "sold as seen"

Yeah but don't forget at £30 a ticket, they are probably selling 3000 tickets!

1000/1 chance for £20

or

3000/1 chance for £30

I know what I'd prefer!

mart360

Talizman, dont wish to be a spoilsport,

if yous sold 500 tickets, and the raffle fell through, work out how much it would cost you to refund the money!!

you would have to spend the time, you would need all the peoples addresses, tel numbers etc, it mounts up.

the reason for insurance is... if you dont sell enough tickets, you have to sell the car,, you are legally commited as you have made a contract with the ticket holders. and also to indemnify yourself as you could do a runner, and the punters would want redress!!

now if you only sell 50 tickets,, you are out of pocket big time.!!! hence insurance.

your current car insurance is worth diddly squat, as you know it wont give anywhere near what the car is worth, and again you have stated contractually what you are offering. a replacement car is not the same!!
this could lead you open to breach of contract or fraud!! hence the insurance

you need to have some form of indemnity against the car going **** up within a certain time. as you havent sold the car!! you raffled it, which is different to selling.

what i was trying to say with my last bit about the porsche, was that if you get one new, you get a warrranty for 3 years, you are offering ??

i would like to see it work, but i have read in my local rag of smlilar schemes that fell over or the owner was out of pocket

mart

talizman

iTrader: (1)

okay, so insurance needs to be looked into.

As far as the warranty issue goes, is there a legal requirement to warranty a second hand car offered as a prize?

If not, it'll get the same warranty as any used car - BOTD expiry..... (bottom of the drive)

talizman

iTrader: (1)

Also, if you are getting a £15k car for £20, is a warranty really going to deter you from wanting/keeping the car? I don't think so.

Even if the winner sold the car the next day for £500, he or she would still be £480 up!

SiDHEaD

I dont think i ever knew of a raffle at a fete etc having warranty on the shyte they gave out!

talizman

iTrader: (1)

lol

wakeboardar

sounds like you need the cash a bit to much mate

would`ent touch it

darlodge

There was a guy on here recently that raffled his 200SX. Not sure what happend but there was a lot of intrest etc.

I may be intrested asuming its all "written up correctly"

Darren

talizman

iTrader: (1)

Don't need the cash at all matey. If I did then I would advertise it seriously. i.e. Auto Trader, Top Marques etc.
So don't.

spufus

iTrader: (2)

Mannin is correct,
The laws are very different regarding games of skill and games of chance

Danbo

Interesting idea Talizman!! I'll buy a ticket if this ever gets going!!

Kevin Groat

£14295 ono seems to me to be a bit on the expensive side, quick trawl of autotrader finds 14 cars from £10.5k to £14k (dealer) incl a 29k miles one for £11k at a dealer Not trying to be funny, just realistic, paid £18k for my STi3 5 years ago, shudder to think what it's worth.

STi wanna Subaru

iTrader: (1)

yep. advertise your car for a reasonable price and you may get some buyer. £14K for an RB5 is too much.

talizman

iTrader: (1)

To the above 2 posts....

No offence, but I'd be grateful if you could keep your opinions on price to yourselves.

When I want opinions on price, I'll title my thread "Whats it worth"...

If you take the time to read the advert for my car (which it would appear you haven't), you'll find it linked in my original post, you will see how I arrived at the price.

Ask anyone who has seen this car if they think it is worth the asking price!

BTW, the cars you quote on Auto Trader are mostly non-WR versions (£2750 cost difference when new) not to mention the plethora of extras on mine.

ScoobyNet can really do your head in at times!

Brit_in_Japan

Unless your car is really special (unique even) then you might find difficulty in selling 1000 tickets. As you point out, at airports people can buy tickets to win a "exotic" machinery which they would otherwise have no chance of owning. There are also many thousands of people each day who get the chance to buy the tickets, so they only need a very small percentage of people to buy.

I am afraid a second hand RB5, however nice it is (and I've just checked it out and it is VERY nice), would not attract the same interest. What I mean is that it is perhaps too specialist for the average Joe, people are put off more by modified cars than by exotica with standard spec. So that means you would be trying to sell to a specialist market, many of whom already own scoobs ? Some people may also be put off by a private raffle.

IMHO, the hassle involved would not be worthwhile to you. If you need maximum return, just keep advertising and keep your fingers crossed. If you need it sold you'll just have to drop the price.

talizman

iTrader: (1)

It is!

There are 39,000 registered members on ScoobyNet, not to mention SIDC, RB5 owners club, P1WOC, plus the regional Scooby clubs, and thats before you offer tickets to general public (as seen on ebay).
Would it be so hard to sell 1000?
I don't think so.

Luckily I don't, or the SN vultures would be offering £10k!

RB5 Paul

I think it sounds like a great idea if you've got the time to organise it all.
If your having trouble selling it modded take a few bits off and sell them seperatly,you'll probably make more out of it anyway.
I'd probably buy most of the bits lol

Brit_in_Japan

Good luck, it will make someone very happy

RB5 Paul

Hint Hint

talizman

iTrader: (1)

Okay a quick update on the used RB5 situation at Subaru Dealers............

There are currently 2 cars across the UK.....

1) 1999 T reg, 33,000 miles, NON-WR SPORT, £14,995
2) 1999 T reg, 61,000 miles, NON-WR SPORT, £12,995

I appreciate that dealers often overprice but surely mine with low miles, FULL WR SPORT version, plus all the extras, is worth £14,295 ONO?

talizman

iTrader: (1)

RB5 Paul....

I've stripped cars to sell/trade in before and its a job I'd rather not undertake again.

having said that, if I had a confirmed buyer lined up for the car as standard, ten I'd consider it.

However, a standard RB5 is nowhere near as appealing as one in this condition/state of modification.

STi wanna Subaru

iTrader: (1)

Ok, then good luck with the sale.

I myself have a MY99 Uk turbo. It has the PPP ECU and intercooler pipes. Decat HKS zorst, 17's, colour coded, PIAA's, clear indicators. 55K miles.

Now if i was to sell i'd look for £8K. i now the RB5 is a ltd edition but somebody having the choice of the two I'd expect most people would choose the std MY99 and pocket the difference. to get your price you will have to hold out for the buyer who is looking for a car 'exactly' like yours.

That is why I made the statement.

Hope you get the price you want and the price of MY99's start to rise

ozzy

Talizman,

If the car hasn't generate much interest then to be brutally honest you have to look at the price. Unfortunately the majority of people want a standard car, so IMHO mods restrict the market.

When I looked at trading in my std RB5 the Dealer offer £9250 on the basis that the car was completely standard. Add £1000-£1500 at most for the WR Sport version and almost £15K for a 5yr old car does look expensive.

I'm no doubting you car is in pristine condition, but it's a buyers market and people are really only interested in price.

I know you titled the post regarding the concept of a raffle, but the fact that you mentioned not getting a sniff at the asking price does open you to comments about that too IMHO.

If you want serious advice on what it's actually worth, then you really need to speak to someone in the trade. They'll give you an accurate value in todays market and what it could potentially be worth as a private sale.

When I tried to sell my Golf GTI, it had 35,000 miles on a 6yr-old car. The bodywork and interior was immaculate, but it just wouldn't sell for the price I wanted. It wasn't until I spoke to some Dealers who simply said it's the price. That's the one thing that attracts people to a car, regardless of it's history and condition. At the end of the day, you can't convey it's condition until you see the car in the flesh and how do you get people to make the move from bums on seats reading AutoTrader to knocking on your door???

Anyway, good luck with the idea.

Stefan