Prize Competition??

In the current climate, selling, our kit has become an ongoing mission, primarily that, in the current economic environment, people are unwilling to invest, so, my question is as follows:

If I were to do a prize competition (as outlined by the gaming commission) how many people would be willing to pay £250.00 per ticket for an opportunity to win the following:

1k/w CO2 Laser with a 2500mm x 1500mm bed Estimated value £40-£45k
DataTech DT6646 Cad Table Estimated Value £15-£20k
Nottings Deep Throat Saws Estimted Value £500-£750 (2 of)

And some smaller items also

What do people think of this idea? and do you think there is the potential uptake to cover?

I am interested in hearing all of your thoughts

Andy

Hi Andy, as nice as that would be to win I personally cannot afford to be missing £250 in this climate with the government seeming not knowing their ar*e from their elbow. If you can be sure you could recover the costs to produce the items and other costs but I fear there may not be the willing amount of participants that would part with such amount on the off chance of being lucky.

Rob

Thanks Rob, good or bad, I need to have peoples opinions.
I understand that it may be a considerable amount to part with, it may be that larger commercial/industrial outfits may be in a better place to "take a punt"

"How many people" - you need to set a context. As a post on this forum, I'm interpreting the number of people from this forum.

My thoughts - your high end stuff is probably "really interesting", but practically speaking only useful to a slack handful of people who (a) could practically use it and (b) could sensibly house it. For the number of people, at the price point you mention, for the value of goods identified, I honestly believe that you need to consider a broader marketplace frequented with organisations (rather than people) with longer arms to delve into deeper pockets.

Just my opinion... it could be a million miles from the truth.

Not a million miles from the truth at all Doddy, I have also asked the same question within my trade and more industrial communities.
I was trying to see if there is likely to be any take up on this forum, even if it would only apply to 5% of members, then I can look at roughly how that would work out to equate to ticket sales

Based on being a long time member on this forum I can’t see home users wanting to risk £250 for the chance to win very expensive (and large pieces of kit).

Maybe some would put in £5 to £10 for the chance to win a small £1000 hobby laser, but not much more.

Businesses usually have an accountant or finance officer and I don’t think you could swing it past them. It’s either buy something and show the return on investment or don’t spend it.

It’s an interesting idea and we wish you well with it in these unique times.

I agree, definitely not one for the home user, its 3 phase, high draw, 50 kv output power supplies, weighs 4850kg and huge footprint. So, £250.00 price puts off the people that are home users and unlikely to have the space/power/weight allowance, access. There are commerical/industrial members of the forum, although limited, and, these are the people that maybe in a position to "take a punt" commercially.
I need to generate approx 400 sales to cover costs, VAT of the items etc.
Any input, as yours routercnc is useful.
So far the Industrial side is obviously outweighing the typically smaller guy from here, as expected, but, wherever a sale comes from, is important.
I appreciate your kind wishes