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Superstakes Raffle


ThomasJ

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Is it just me or does anyone else feel the BMW MOA Superstakes III raffle tickets are a bit excessive? Seems to me the guys who can afford one, or more, $100 raffle tickets probably already own the bikes and gear that will be raffled off. Those of us slugs who find it difficult to part with a C note for a raffle probably don't have the stuff. It seems to me its either one of two cases:

1) Most MOA members can swing the raffle buy in...or...

2) The MOA leadership isn't connected as perhaps they ought to with the general membership.

:lurk:

Thanks,

Tom

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The $100.00 ticket price gets you into the rally as well as into the drawing for the goodies. If you don't want to enter the drawing, you can just pay the rally entrance fee, which I think is $35.00 or $40.00.

BTW, MOA came out with a story in their magazine a year or so ago that the average MOA member makes, on average, $88,000. That being said, that means everyone makes between 0 and $176,000 a year. Personally, I'm on the very low end of that scale. I will be at the National and already have two Superstakes tickets. For all their giving away, I've got to try. Their only selling 10,000 tickets and giving away over $250,000 worth of goodies, including a variety of twelve different 2012 BMW motorcycles.

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Their only selling 10,000 tickets and giving away over $250,000 worth of goodies, including a variety of twelve different 2012 BMW motorcycles.

If the retail value of the prizes is about $250K, then for 'break even' the tickets should cost $25/ea. If you pay more than that, you're getting hosed. In truth, many of the prizes will have been donated, or acquired at significant discount, so they're making out no matter what...

 

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$25.00 for the prizes + $40.00 for rally entrance. That's $65.00. That leaves $35.00 to put on the rally. Rent the grounds, pay the bands, etc, etc.

I will consider myself getting hosed and like it.

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If I recall correctly (and I could be wrong), ticket prices for the MOA's pervious raffles for bikes the last couple of years were noticeably less expensive. Obviously, the club's leadership decided to go all out for the 40th anniversary raffle. They're actually giving away thirteen new bikes (there was an early bird draw on top of the other twelve bike prizes). Yes, $100 is not chump change, but they must have figured there was a market among members. I thought about it and eventually decided to give it a shot, figuring I'd spent $100 in a lot worse ways.

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Their only selling 10,000 tickets and giving away over $250,000 worth of goodies, including a variety of twelve different 2012 BMW motorcycles.

If the retail value of the prizes is about $250K, then for 'break even' the tickets should cost $25/ea. If you pay more than that, you're getting hosed. In truth, many of the prizes will have been donated, or acquired at significant discount, so they're making out no matter what...

 

My understanding is the proceeds will used be for charitable, moto related cause. Most raffles of this nature are. How are you getting hosed? You buy for a chance to win a prize knowing the "profit" is going to charity. Even if not purely charitable and funds raised going to BMWMOA, it doesn't appear that any individual is benefiting. If no like, no buy. The prizes are usually donated so as to allow for more proceeds for the cause. Very common.

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Get 6 friends.

 

Each of you kick in $14.29.

 

If you win, you each get the bike one day per week.

Split maintenance costs 7 ways.

No brainer.

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Get 6 friends.

 

Each of you kick in $14.29.

 

If you win, you each get the bike one day per week.

Split maintenance costs 7 ways.

No brainer.

 

don't forget the FMV of the prize is taxable income as well. recently had 2 clients win a ski boat in a similar benefit raffle. 55k in income. the key is a quick sale for cash which isn't happening quick enough for them.

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Get 6 friends.

 

Each of you kick in $14.29.

 

If you win, you each get the bike one day per week.

Split maintenance costs 7 ways.

No brainer.

 

 

 

Just like an airplane. :)

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Marty Hill
Their only selling 10,000 tickets and giving away over $250,000 worth of goodies, including a variety of twelve different 2012 BMW motorcycles.

If the retail value of the prizes is about $250K, then for 'break even' the tickets should cost $25/ea. If you pay more than that, you're getting hosed. In truth, many of the prizes will have been donated, or acquired at significant discount, so they're making out no matter what...

 

My understanding is the proceeds will used be for charitable, moto related cause. Most raffles of this nature are. How are you getting hosed? You buy for a chance to win a prize knowing the "profit" is going to charity. Even if not purely charitable and funds raised going to BMWMOA, it doesn't appear that any individual is benefiting. If no like, no buy. The prizes are usually donated so as to allow for more proceeds for the cause. Very common.

 

Brian, thanks for a well thought out answer and explanation. I have no problem with the MOA making a profit/and yes I've contributed to the "hosing". If/when I win, I'll call for tax advice.

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  • 2 months later...

Yeah, that raffle sure hosed me big time! For my $100 (and around $1300 sales tax that I'll have to pay next month when my temp. reg. expires) I was handed a brand new 2012 motorcycle worth $18,000. I'm also aware of the income tax implications and I'll deal with that when the time comes, but when all is said and done I still have a brand new motorcycle for the price of taxes! The MOA has my permission to hose me again in the future!

 

Every person's tax situation is different and winnings may certainly impact someone less or more than average, but I'm willing to bet that most of the Superstakes winners of motorcycles already own one or more bikes. If anyone is possibly going to get pinched by the IRS, they can always sell one of their used bikes to pay the tax and still have a brand new ride.

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Thank you, Tim! It was the K1300S, certainly a sweet bike, but I'm getting old and I ride- shall we say, more conservatively, so I traded it at Pandora's on a 2011 RT. :thumbsup:

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I was going to ask them, but before I could, Justin from Pandoras mentioned that if we felt the bike we won wasn't a good fit for us, he'd work out a trade, giving us full value that the MOA paid BMW for the bike. He said at the time that he thought 10 out of the 12 motorcycle winners were trading for something else.

 

Everyone, the MOA, Ted Moyer specifically, and all at Pandora were terrific. Everyone made it an easy event. I flew from NJ to Chattanooga and rode the RT home. They stayed at Pandora two hours past closing because my flight landed after closing time and they picked me up at the airport and even led me to my hotel after the purchase.

 

The seat was a torture device to my legs, though, I need an aftermarket if I'm going to do long distances. I did two 400 mile days to get it to south Jersey and I was in serious pain. It wasn't my butt, it was my upper hamstring area where the edge of the seat made contact. I met my family who were on vacation there and stayed off the bike for two days. I then traveled the final 160 miles north to home and was also in pain at the end. Previously, I think my longest ride one-way was the 215 miles to the Gettysburg weekend getaway I did in April on my R1200CLC.

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