I'm selling my old car and havent had too many offers yet. Its a P Reg Escort and I was thinking of selling 20 raffle tickets at £50 a ticket and who ever gets drawn out wins the car and they can sell it on or use it or whatever.
Are there any legal implications for this ?
|
No idea about the lagalities of it but are you going to get that many people willing to part with 50 quid on the offchance of getting are car? Much less getting enough to be roughly equivalent to the value of the car.
|
Not sure but work in an office with about 500 people and a few like a gamble, maybe if i offer a 2nd prize of your £100 as well ?
As long as everyone is aware of the that it is a raffle and purely on luck.
Just not sure if there are any issues with the law.
|
If you can get enough people, and it's legal then it's a cracking idea - but you would need at least 30-40 people I would reckon. Maybe lowering the ticket to 20 and getting a hell of a lot more people interested would be more beneficial.
Good luck
|
I think you may need to contact your local authority about a licence of some sort - not sure.
Also you would probably need a clause in the contract that you take out with everyone who buys a ticket that in the event of fewer than a min number of tickets being sold, the draw would not take place and moneys would be refunded. This is to safeguard you against the possibilities of making a huge loss.
I know that a number of people did this with properties during the property crash of the 80s.
H
|
There is currently an auction for a house (www.winahouseforafiver.co.uk) and I notice that they need to have a question before letting you buy a ticket. Maybe this is what you'll need to do.
|
I thought about opening up the draw to a larger number of people but it makes it much less likely that you will win
Cheers for the advice i'll let you know how I get on.
|
|
|
