Raffle prize value

A friend won a 5 qt Accu-sump at the Fvee end of season party last year at NHMS in a raffle. He does not have a car to use it on so gave it to me for my Scirocco, but I want to use it in the Challenge C3. How do I value it? It was not "new" but it has not been used. I'm guessing the $1 he paid for the ticket is not valid here?

vwcorvette (Forum Supporter) said:

A friend won a 5 qt Accu-sump at the Fvee end of season party last year at NHMS in a raffle. He does not have a car to use it on so gave it to me for my Scirocco, but I want to use it in the Challenge C3. How do I value it? It was not "new" but it has not been used. I'm guessing the $1 he paid for the ticket is not valid here?

Why not? It was available to anyone at that price. 🤘🏻😎

I can see it now: local fire department gets a C8 donated to their fundraiser, and they raffle it off, 500 tickets for $250 each. I buy all 500 tickets, total price $125,000. I win. So I enter 2025 Challenge with a one line budget:

C8: $250

I understand wanting to use a cool part but honestly that's wasted time and budget for the Challenge.  I don't Challenge math like some do.  I would value it as a used part at 50-75% of it's MSRP.

AngryCorvair (Forum Supporter) said:

vwcorvette (Forum Supporter) said:

A friend won a 5 qt Accu-sump at the Fvee end of season party last year at NHMS in a raffle. He does not have a car to use it on so gave it to me for my Scirocco, but I want to use it in the Challenge C3. How do I value it? It was not "new" but it has not been used. I'm guessing the $1 he paid for the ticket is not valid here?

Why not? It was available to anyone at that price. 🤘🏻😎

I can see it now: local fire department gets a C8 donated to their fundraiser, and they raffle it off, 500 tickets for $250 each. I buy all 500 tickets, total price $125,000. I win. So I enter 2025 Challenge with a one line budget:

C8: $250

Wouldn't the total of all tickets count since that's what you spent? lol

I recall back in the 90s I think there was a guy going to court to avoid taxes on a Corvette won via raffle. He effectively argued that he paid $50 for the ticket and therefore that was the value of the car.

In reply to Stampie :

Are you saying I don't need to use it so focus elsewhere? That makes sense too.

vwcorvette (Forum Supporter) said:

A friend won a 5 qt Accu-sump ... gave it to me

2000Challege.com/rules says:

“Free” parts given to you by a friend must be added to the budget at fair market value.

gumby said:

vwcorvette (Forum Supporter) said:

A friend won a 5 qt Accu-sump ... gave it to me

2000Challege.com/rules says:

“Free” parts given to you by a friend must be added to the budget at fair market value.

While I like the question of the raffle value, in this situation this is the only correct answer. 

If he was on your challenge team we'd be back to the raffle question 

In reply to vwcorvette (Forum Supporter) :

Yeah while a cool part I would rather put the effort and money into making it faster.

In reply to Stampie :

I think this is the best answer.