"Win" a Rhodes 40' Sloop: Siskiwit

[NorthernSeaWolf]

Has anyone looked into this? It's an essay contest accepting a maximum of 900 entries; the prize is the Siskiwit with some extras. Contestants pay an entry fee ($125, $150 after Nov 22) and need to have about $13K available for estimated taxes due by February 2016, when possession would transfer.

I'm not eligible... apparently you need to be a US Citizen, of which I'm not. I've never seen anything like this before, and I've been planning for my s/v for a few years now - wasn't sure if anyone else had.

Here's the link:
Siskiwit | WIN a Rhodes Offshore 40' Sloop | Classic Cheoy Lee

Thoughts?

[paulajayne]

Got to be a con.

Why would anyone pay to enter?

[Don C L]

Interesting. They should get their price and they will know it is going to a good home. If I ever sell my boat maybe I'll do it that way too. If I lived on the east coast I'd try for it. That's one of the rare designs that really appeals to me. But then, do I have 13K and the cash flow to maintain that boat? Uhh.... no. Not yet. Oh yeah, I have kids. Probably never.

[NorthernSeaWolf]

Originally Posted by paulajayne

Got to be a con. Why would anyone pay to enter?

It's a pool of sort; first 450 entries covers what he was looking for when he went to list it for sale (450x$125=56,250, found it originally listed on YachtWorld for $52,900
1969 Cheoy Lee Offshore Sail Boat For Sale - www.yachtworld.com
...the extra entries create a yard credit at Bennett Brothers Yachts, in Wilmington, NC. Seems legit, a lot of dreamers with some cash, but not enough... they've already had more than 450 entries, so the seller covered his base.

Originally Posted by Don C L

Interesting. They should get their price and they will know it is going to a good home. If I ever sell my boat maybe I'll do it that way too. If I lived on the east coast I'd try for it. That's one of the rare designs that really appeals to me. But then, do I have 13K and the cash flow to maintain that boat? Uhh.... no. Not yet. Oh yeah, I have kids. Probably never.

Ha! Ditto, ditto, ditto.... well I have kids, but I will get my s/v! It's just hard to look at the big plan week by week and see that I'm still a ways out~

[hblask]

I've seen people try to sell a house this way, but it is inevitably considered illegal. It's too much like gambling. If this one attracts the attention of "the authorities" it will almost certainly be shut down.

[Blue Stocking]

Form an LLC, make each contestant a shareholder, with 1 taking possession. He can close the company.
PS: not a lawyer, but have been known to be devious.

[trifan]

It's a raffle and, as such, is legal in many jurisdictions. Most raffles, though, don't have a limit to the number of ticket sales. Our org just raffled an AR-15 and cleared (after expenses) about $5500. Oh, ticket cost? Only $10 ea or 3 for $25.

[reed1v]

Illegal in most states since its basically a lottery. Also most likely a scam. Finally, you will get socked for the retrieval costs which could add up to 30-50k easily.

[trifan]

Also, in Texas gambling is illegal but you see all those old ladies in the bingo hall every weekend. I guess the officials know better than to mess with grandma.

[reed1v]

Originally Posted by trifan

Also, in Texas gambling is illegal but you see all those old ladies in the bingo hall every weekend. I guess the officials know better than to mess with grandma.

Officials know better than to tangle with the Catholic Church which has a nationwide control on all Bingo operations(really). Although its gambling, no state has saw fit to close them down. Justice is what you pay for.

[TKDSailor]

Seems to be a scam to me... if it is an "essay contest," I presume that there is a judge to say which essay wins?? I guess his brother-in-law had the best essay, and just happened to be needing a boat...

[rosatte]

Yeah essay to win...ur right one of his close friends or family members has best essay winner winner chicken dinner

[Lizzy Belle]

Originally Posted by TKDSailor

Seems to be a scam to me... if it is an "essay contest," I presume that there is a judge to say which essay wins?? I guess his brother-in-law had the best essay, and just happened to be needing a boat...

"The judges of the contest and current owner of the vessel and employees of Bennett Brothers Yachts and their immediate families, members of all forms of media (including but not limited to TV, Radio, Online and newspaper) are disqualified and may not enter this contest."

If it's a scam, he's being pretty darn stupid about it, giving his name, work info, broker info etc. Should be very easy for anyone to check out if he's (for) real.

It's an original way to sell a boat. I wouldn't do it this way myself, or ever enter something like this, but still. Creative and innovative way to sell a boat and find an owner you think will be good to her.

[reed1v]

Originally Posted by Lizzy Belle

"The judges of the contest and current owner of the vessel and employees of Bennett Brothers Yachts and their immediate families, members of all forms of media (including but not limited to TV, Radio, Online and newspaper) are disqualified and may not enter this contest."

If it's a scam, he's being pretty darn stupid about it, giving his name, work info, broker info etc. Should be very easy for anyone to check out if he's (for) real.

It's an original way to sell a boat. I wouldn't do it this way myself, or ever enter something like this, but still. Creative and innovative way to sell a boat and find an owner you think will be good to her.

If it smells too good, it probably is. We had several houses up this way go the lottery route till the operators got busted, the houses tied up in cross law suits by non winners, and subpoenas issued to all participants.

[Moontide]

If it was a straight raffle/drawing it would get past the smell test better. Wonder if the past owner, current owners wife of kids, etc. are entering. Just seems to subjective / open to manipulation this way. Could be legit, hope so but skeptical.