I think the try high and if it doesn't work - raffle it - is a way to go.
I've seen houses raffled in this way - when the owner was upside down in a beautifully restored place. KNEW he couldn't get what was in it. Couldn't get it to sell for near what he at least wanted as a minimum. The Raffle idea got them somewhere in the middle.
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As a comparison - NFP Wings of Hope raffle a plane worth about $75k every 9 months or so. They sell 5,000 tix and they are 1 ticket for $75 or 3 tickets for $195. The tix usually sell out in about 18 hours (though some of this is from their track record or offering great deals). A second prize is a PPL or training scholarship worth about $12k. Couple of minor prizes like headsets and iPads are donated.
After buying the plane and setting aside cash for the scholarship - but before costs they clear about $240k
Last edited by Graeme Smith; 12/04/20 09:23 PM. Reason: Clarified the $240k
