Win an M5 for $200!!!!!....... - The Unofficial BMW M5 Messageboard (m5board.com)

MichaelM · 4th April 2008, 04:36

Ok, Hope I got your attention. I was thinking about a way to sell my car to someone on this board. I would like to hear your thoughts on my suggestion.

I was thinking about having a raffle at $200 per person. I would need a minimum of 135 people before I would pick a name. Once I get the 150 people, I would allow one more week for anyone who wanted in, and then I would pick a name and bam! someone would get a beautiful Titanium 2001 52K mile M5 for $200

. What do you guys think about this idea?

I'm not sure how I would do the funds? Put people's money in a trust account? I don't think people would be comfortable sending me checks, so I figured the trust account was the best option.

Diny · 4th April 2008, 04:42

Sounds more like a raffle than an auction.

And interesting idea.....

MichaelM · 4th April 2008, 04:44

Yeah, your right, raffle should have been the term. Going to edit now.

Zeddy4Me · 4th April 2008, 04:46

sounds good to me...

Stika · 4th April 2008, 04:50

Hmm...interesting idea. Are you really gonna do it?

Haha Bye · 4th April 2008, 05:08

lol sick idea

MichaelM · 4th April 2008, 05:15

I have no problem doing it as long as people know that I need at least 135 people (this will give me at least 27K for my car). If I get more than that, great, if I only get 135 people, that's ok too. If I don't get 135 people for this, in let's say (what's reasonable? 1 month?) then I will return the monies

Diny · 4th April 2008, 05:16

Alright I let this bake for a bit and there is one biiiiiig issue.

How do we know that one of the people in the raffle is not you (with a different name) or one of your friends and you end up not selling the car, just collecting an assload of money from us?

FAST 5 · 4th April 2008, 05:25

Quote:

Originally Posted by Diny

Alright I let this bake for a bit and there is one biiiiiig issue.

How do we know that one of the people in the raffle is not you (with a different name) or one of your friends and you end up not selling the car, just collecting an assload of money from us?

for this reason, I NEVER participate in church type raffles "win a car" as I always think its fixed someway and its not truly honest. Yes....... I said the church !!!

GST · 4th April 2008, 05:26

I believe you need to be a non-profit organization to conduct a raffle.

http://ag.ca.gov/charities/raffles.htm

In any event, you'll need to look into it a bit further.