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R Kings and other car raffles

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    #332
    Gumbo
    Moderators, Society & Culture Moderators Posts: 38,904 Mod ✭✭✭✭Gumbo


    ofcork wrote: »
    Another one has 2013 ni reg M5 supposedly with 635bhp up.

    Easily achieved on the F10 with stage 1 mods and remap.


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    #333
    shaveAbullock
    Closed Accounts Posts: 965 ✭✭✭shaveAbullock


    So how does this one work?
    Seems to be based in the republic
    No question to answer just enter credit/debit card details so not even a fake game of skill

    https://theferrariexperience.ie/product/win-a-ferrari-488-gtb/


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    #334
    PrettyBoy
    Registered Users Posts: 4,213 ✭✭✭PrettyBoy


    shaveAbullock wrote: »
    So how does this one work?
    Seems to be based in the republic
    No question to answer just enter credit/debit card details so not even a fake game of skill

    https://theferrariexperience.ie/product/win-a-ferrari-488-gtb/

    They keep changing the date of the raffle - does my head in. It was scheduled for May 1st previously. I'd take a wild guess that it will be re-scheduled again for a date June soon. Also a bit skeptical about the claim that the proceeds are going to Pieta House - an extremely small percentage of the proceeds?

    Saw that a young guy won the Lambo on R Kings, I'd imagine he's having some session tonight :cool:


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    #335
    shaveAbullock
    Closed Accounts Posts: 965 ✭✭✭shaveAbullock


    I missed that about all profits going to charity so that would probably make it legal.

    The change of date just means the tickets are selling very slow.


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    #336
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,694 Mod ✭✭✭✭Henry Ford III


    I don't like car raffles. They pray on the vulnerable I feel.


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    #337
    dulpit
    Registered Users Posts: 10,617 ✭✭✭✭dulpit


    PrettyBoy wrote: »
    Saw that a young guy won the Lambo on R Kings, I'd imagine he's having some session tonight :cool:

    That'll be a fun conversation with the insurance company...


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    #338
    nigeldaniel
    Registered Users Posts: 1,384 ✭✭✭nigeldaniel


    I would not go for raffle type thing myself. I have seen far too many dubious cars and motorbike draws online and all for a 20 euro ticket. It just does not sit well with me. I always used to think a person needed a permit or licence of some sort to do lottery-type things myself.

    Dan.



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    #339
    unhappys10
    Closed Accounts Posts: 692 ✭✭✭unhappys10


    nigeldaniel wrote: »
    I would not go for raffle type thing myself. I have seen far too many dubious cars and motorbike draws online and all for a 20 euro ticket. It just does not sit well with me. I always used to think a person needed a permit or licence of some sort to do lottery-type things myself.

    Rkings is based in the North so doesn't fall under our laws down here.
    They are also legitimate so your comment has nothing to do with this thread.


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    #340
    adam88
    Registered Users Posts: 1,608 ✭✭✭adam88


    unhappys10 wrote: »
    Rkings is based in the North so doesn't fall under our laws down here.
    They are also legitimate so your comment has nothing to do with this thread.

    They don’t need one down here either. Think of the competitions on RTÉ during the day and on the late late. Once you ask a question you get over the requirement to have a licence


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    #341
    Gumbo
    Moderators, Society & Culture Moderators Posts: 38,904 Mod ✭✭✭✭Gumbo


    nigeldaniel wrote: »
    I would not go for raffle type thing myself. I have seen far too many dubious cars and motorbike draws online and all for a 20 euro ticket. It just does not sit well with me. I always used to think a person needed a permit or licence of some sort to do lottery-type things myself.

    Well you’d be incorrect as they are completely legal.


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    #342
    BronsonTB
    Registered Users Posts: 1,892 ✭✭✭BronsonTB


    Doing something right....Celica GT4 raffle sold out within 2 hours...

    www.sligowhiplash.com - 3rd & 4th Aug '24 (Tickets on sale now!)



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    #343
    eljono
    Registered Users Posts: 1,767 ✭✭✭eljono


    BronsonTB wrote: »
    Doing something right....GT4 raffle sold out within 2 hours...

    Cayman GT4?


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    #344
    shaveAbullock
    Closed Accounts Posts: 965 ✭✭✭shaveAbullock


    Henry Ford III wrote: »
    I don't like car raffles. They pray on the vulnerable I feel.

    Very true. That's why there are regulations to cover raffles but a loophole has been found. I expect the loophole to be removed in the not too distant future.


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    #345
    Patser
    Registered Users Posts: 8,009 ✭✭✭Patser


    PrettyBoy wrote: »
    They keep changing the date of the raffle - does my head in. It was scheduled for May 1st previously. I'd take a wild guess that it will be re-scheduled again for a date June soon. Also a bit skeptical about the claim that the proceeds are going to Pieta House - an extremely small percentage of the proceeds?

    Saw that a young guy won the Lambo on R Kings, I'd imagine he's having some session tonight :cool:

    All references to Pieta house are gone now from the Ferrari raffle, instead a more vague 'towards front line workers' is there instead with no figures mentioned - previously they had pledged at least €20,00 to Pieta.

    To be fair, when the postponed last time, they did include in their apology a statement that they had donated €5000 to a hospital towards meals for the staff.


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    #346
    bf
    Registered Users Posts: 978 ✭✭✭bf


    Patser wrote: »
    All references to Pieta house are gone now from the Ferrari raffle, instead a more vague 'towards front line workers' is there instead with no figures mentioned - previously they had pledged at least €20,00 to Pieta.

    To be fair, when the postponed last time, they did include in their apology a statement that they had donated €5000 to a hospital towards meals for the staff.

    I saw the Ferrari yesterday & it’s on U.K. plates


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    #347
    Patser
    Registered Users Posts: 8,009 ✭✭✭Patser


    bf wrote: »
    I saw the Ferrari yesterday & it’s on U.K. plates

    Yeah, I've seen them post a few times on twitter a yellow reg car, but that looks to be one of the Spiders.

    Terms and conditions clearly says - will be on Irish plates


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    #348
    shaveAbullock
    Closed Accounts Posts: 965 ✭✭✭shaveAbullock


    They won't be paying for VRT unless enough entries sell. They seem to be really struggling to sell them.


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    #349
    adam88
    Registered Users Posts: 1,608 ✭✭✭adam88


    R.Kings easily making 10k a day I reckon


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    #350
    Duke O Smiley
    Registered Users Posts: 12,074 ✭✭✭✭Duke O Smiley


    adam88 wrote: »
    R.Kings easily making 10k a day I reckon

    A lot more than that

    Those lads are living the dream


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    #351
    shaveAbullock
    Closed Accounts Posts: 965 ✭✭✭shaveAbullock


    Duke O Smiley wrote: »
    A lot more than that

    Those lads are living the dream

    The business is making a lot more than €3.65 million profit a year?


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    #352
    Duke O Smiley
    Registered Users Posts: 12,074 ✭✭✭✭Duke O Smiley


    I would say their profits are into the millions certainly


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    #353
    unhappys10
    Closed Accounts Posts: 692 ✭✭✭unhappys10


    shaveAbullock wrote: »
    The business is making a lot more than €3.65 million profit a year?

    If they only do 3 cars a day at 2k profit each every day for a year plus 1 big draw a week at 15k profit that comes to 2,964,000 pounds a year.
    I'm sure some are more than 2k profit each.


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    #354
    shaveAbullock
    Closed Accounts Posts: 965 ✭✭✭shaveAbullock


    unhappys10 wrote: »
    If they only do 3 cars a day at 2k profit each every day for a year plus 1 big draw a week at 15k profit that comes to 2,964,000 pounds a year.
    I'm sure some are more than 2k profit each.

    But that would be before tax, wouldn't it?


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    #355
    unhappys10
    Closed Accounts Posts: 692 ✭✭✭unhappys10


    shaveAbullock wrote: »
    But that would be before tax, wouldn't it?

    As with any second hand car related business, I'm sure not everything goes through the books.
    Buying cars for cash and getting rid of them within a day or 2, they definitely aren't declaring everything.

    It's a licence to print money even with tax, they have close to no overheads.

    Buy a car, stick it on website, broadcast a draw and meet winner.


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    #356
    User1998
    Registered Users Posts: 6,242 ✭✭✭User1998


    unhappys10 wrote: »
    they definitely aren't declaring everything.

    And you know this how?


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    #357
    unhappys10
    Closed Accounts Posts: 692 ✭✭✭unhappys10


    User1998 wrote: »
    And you know this how?

    Fairly safe assumption to make I'd imagine but feel free to think what you like.


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    #358
    shaveAbullock
    Closed Accounts Posts: 965 ✭✭✭shaveAbullock


    It's hard to know.
    HM Revenue and Customs can be fairly ruthless if they think they are missing out on significant ammount of revenue.
    All the cars are up on the site with records of tickets sold. I guess the one thing that could be done to avoid tax is claim they pay more for cars than they do. But they would still have to keep records that at least look believable.


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    #359
    adam88
    Registered Users Posts: 1,608 ✭✭✭adam88


    unhappys10 wrote: »
    Fairly safe assumption to make I'd imagine but feel free to think what you like.

    I say it be hard to hide the money sap when it’s going through an online platform. Be very very easy for her majesty’s government to find out how many tickets they sold for x amount. Now what they could do is inflate the price they paid for the products so as to reduce their margins but not many people are going to want to accept 15k in cash for a car. Especially nowadays.

    Fair play to them. Many lads trying to get in on the act but I think they have it sewn up. No catching them now


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    #360
    unhappys10
    Closed Accounts Posts: 692 ✭✭✭unhappys10


    adam88 wrote: »
    I say it be hard to hide the money sap when it’s going through an online platform. Be very very easy for her majesty’s government to find out how many tickets they sold for x amount. Now what they could do is inflate the price they paid for the products so as to reduce their margins but not many people are going to want to accept 15k in cash for a car. Especially nowadays.

    Fair play to them. Many lads trying to get in on the act but I think they have it sewn up. No catching them now

    Yeh I don't think the others have a hope now.
    Some money spinner though.
    Even paying taxes it's money for nothing.


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    #361
    mooseknunkle
    Closed Accounts Posts: 2,427 ✭✭✭mooseknunkle


    unhappys10 wrote: »
    If they only do 3 cars a day at 2k profit each every day for a year plus 1 big draw a week at 15k profit that comes to 2,964,000 pounds a year.
    I'm sure some are more than 2k profit each.

    If someone is making that much money in Northern Ireland raffling cars it won't be long before certain groups will be looking for a cut if they aren't already,fair play to whoever is running it but it won't last forever.

    They said in the comments for the Lamborghini that it was a private seller,be interesting to see if others will be offering their high end cars to them.


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