Nsx Raffle?

[Lud]

I think an NSXCA raffle is a great idea. I think it should only be for a new NSX though. Something does not seem right about raffling a used car.

There is very little risk. Simply state that X number of tickets must be sold by a certain date or all the money will be refunded. And hey you got some interest off the money in the meantime.

I think $100 is a good ticket price. Lots of similar raffles use $100 tickets and have good sales. Even if you just shoot for 1200 tickets with a minimum of 1000 sold to hold the raffle.... If you get the car for $80k the club nets $20k-$40k minus whatever minimal expenses. Boom, you just knocked $130 - $260 off the NSXPO registration price for 150 people.

I don't think current NSX owners would necessarily be the target audience for the tickets, though I and I'm sure many others would certainly buy one. Don't look inward, look outside the club. A small ad in autoweek and you'd have tons of exposure. Or even just guerilla market it via online forums. Word of stuff like that usually spreads quickly anyway.

I also like the "limit 3 per person" idea, that does tend to get people to buy more than one.

Look how successful the auction for the CTSC was last year prior to NSXPO. I think a raffle for a new NSX would be just as successful.

Taxes? Hah. If the winner can't afford the taxes, they can sell the car and walk away with a ton of money. Realistically though if I could have any exotic sports car for just the cost of the tax on winning it, I'd need a much larger garage.

 

[O-Ace]

Lud, from what I know, NSXCA would have to purchase the NSX before they could sell any tickets. This is mainly in place to prevent fraud, but since NSXCA is a non-profit organization, maybe different rules apply.

Either way, I'm in

-Awais

 

[White92]

I think LUD is right on track with this? So what would it take to do this? I can't think of any reason other than paper work why this shouldn't be done. Let's do it. I'd buy the max allowed.

 

[mickeylex]

I'm in

Like I said before, I'm in.

 

[nsxtasy]

There are some significant downsides. Some have been mentioned (paperwork), others haven't:

- The club doesn't have enough money to buy one, and the club must own it before raffling it.

- If the minimum number of tickets aren't sold, the club is stuck with a car it would have to sell at a loss.

- Also, if the minimum isn't met, issuing say 500 or more refunds involves significant effort.

- Costs for accepting non-cash payment methods for raffle tickets, such as Paypal and credit cards, are significant (2-3 percent).

- Most of the club activities are structured to benefit as many members as possible. A raffle benefits only one person.

And, relating to a point that Lud made...

I don't think current NSX owners would necessarily be the target audience for the tickets, though I and I'm sure many others would certainly buy one. Don't look inward, look outside the club. A small ad in autoweek and you'd have tons of exposure. Or even just guerilla market it via online forums. Word of stuff like that usually spreads quickly anyway.

- As a 501(c)(7) non-profit organization, no more than 15 percent of the club's income can come from non-members. If a significant portion of the raffle income came from non-members of the club, it could jeopardize the club's exemption from paying taxes.

 

[sjs]

The benefit to a majority of club members would be the profit portion if it is used appropriately, not who the winner is.

I think that there would be more of us participating than Lud estimates, but I can see how it may still seriously impact the revenue ratio.

 

[White92]

- As a 501(c)(7) non-profit organization, no more than 15 percent of the club's income can come from non-members. If a significant portion of the raffle income came from non-members of the club, it could jeopardize the club's exemption from paying taxes.

What if the tickets were $100 a piece and with purchase came a temporary/restricted membership into the club? That way anybody who entered would be a member and 100% of the income would be from members.

I don't think current NSX owners would necessarily be the target audience for the tickets, though I and I'm sure many others would certainly buy one. Don't look inward, look outside the club. A small ad in autoweek and you'd have tons of exposure. Or even just guerilla market it via online forums. Word of stuff like that usually spreads quickly anyway.

Regarding what LUD said above, lets start a new topic or perhaps a survey saying if people would want to do it and would. Try to get some numbers going. Lets get some volunteers to hit up other forums for this. I'm sure that several people over at s2ki.com and club rsx would chip in $100 or so for a shot at an NSX. I personally think it would not be too difficult to get 1,000 entries for this. Maybe not from 1,000 different people, but 1,000 total entries. But maybe that's just me wanting it to happen.

 

[O-Ace]

If the NSXCA can't run with this, should I look into setting this up? We could use some new servers over @ RacingFlix Would you guys be interested in any less priced cars like the 350Z, or G35 Coupe? Maybe a C6 Corvette? $90K is a pretty big risk to take for a raffle.

-Awais

 

[White92]

Good idea! Why not start with a lesser car like a 350Z. Maybe we could get some companies to throw on a wheel and tire package or something. We could judge the success of this raffle. If the response is overwhelming, maybe then we could do the NSX raffle.

 

[O-Ace]

I'll look into it. Last time I checked on this, just attorney fees were going to be in the $5K range. So, I'm not sure I will go ahead with this, but I'll look into it.

-Awais

 

[White92]

Don't we have some attorney's on here that could help us out? Come on, it's for a good cause. I need a need car! And I'm sure some charity will benefit as well.....

 

[Spider]

What about getting one of the Acura dealerships to sponsor the raffle as part of nsxpo this year? As part of the sponsorship, let's say they discount to the club a new nsx at 10-15% off their cost. With the exposure that they will get to the nsx community, not to mention an instant client list of potential next-generation-nsx customers from the raffle entries, this would be a great marketing opportunity for them! Invite them to be a part of the raffle by having their representative draw the winning ticket.

The dealership gets great advertising. The club gets a great deal on an nsx, with fewer number of tickets having to be sold. And I have a better chance of winning

 

[White92]

Of course, since we are all so spread out, we should put a "need not be present to win" section in there.

 

[Aiken Drum]

Hmm, I'm not sure a dealership would see a win from the publicity. Chances are, someone who is local to them would already go there for a new Acura, and someone who isn't wouldn't. I don't think there's much benefit for them.

However, you might be able to do some sort of donation angle, insofar as they're donating the profits they would have received by selling the car themselves. It's only a small tax write-off, assuming you could do it at all, but it might be somewhat more incentive than publicity.

I don't really know much about this, so I dunno if it's workable.

 

[1HOT NSX]

About a month ago I bought 2 tickets at $100 each for a new F360 Spider. They advertised in Autoweek and said that the limit was to be 7500 tickets sold and that the raffle would take place on June 1st. They also stated that the minimum number they had to sell was 4000 tickets or they would return the money.

They didn't sell the 4000 tickets but they came close (about 3400 +/-). Their phone message says they will be returning the money. I'm hoping they will also give me the option/chance to keep the tickets and postpone the date of the raffle. I would like them to say something like: The Raffle will take place as soon as 4000 tickets are sold - if not sold by December 1, 2004 all monies will be returned without delay.

I would buy a ticket or two at $100 for a new NSX. I would like the limit to be 1500 tickets max with a minimum of 1000 to do the raffle. Limit two tickets per person. If the minimum is not reached by the chosen date I'm willing to wait until the minimum number is sold.

Perhaps the club can buy the NSX from a sympathetic dealer (Niello Acura?) with a clause permitting the return of the car and the money if the minimum number of tickets is not sold. Let's shoot for Christmas - what could be a better present for someone than a brand new NSX!