Luscombe Endowment Win Me

Maxmosbey

Maxmosbey

Final Approach
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San Juan, PR/Ames, IA
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I need to get serious.
A long time ago, like well over a year ago, I bought two tickets from the Luscombe Endowment for a nice old Luscombe tandem airplane. They were supposed to give it away last fall, but then they didn't. They put a letter on the site that said that they didn't sell enough tickets to cover the cost of the airplane, so they were going to delay the drawing until they sold enough tickets. I keep going back to the site, and a couple of times they posted how many tickets they had to sell before they would give it away, but it was not updated very regularly. I checked it again today, and it hadn't been updated since December 7th of last year. I saw them at Osh Kosh the year before last, and that is where I bought the tickets, so I thought that it was legit, but now I am beginning to wonder if I just got ripped off. Anyone know anything about this? The plane is supposed to be in Gilbert, AZ.
 
Maxmosbey said:
A long time ago, like well over a year ago, I bought two tickets from the Luscombe Endowment for a nice old Luscombe tandem airplane. They were supposed to give it away last fall, but then they didn't. They put a letter on the site that said that they didn't sell enough tickets to cover the cost of the airplane, so they were going to delay the drawing until they sold enough tickets. I keep going back to the site, and a couple of times they posted how many tickets they had to sell before they would give it away, but it was not updated very regularly. I checked it again today, and it hadn't been updated since December 7th of last year. I saw them at Osh Kosh the year before last, and that is where I bought the tickets, so I thought that it was legit, but now I am beginning to wonder if I just got ripped off. Anyone know anything about this? The plane is supposed to be in Gilbert, AZ.
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All I know is that if they ever have the drawing, I'm going to win it. :D
Got six tickets.

They sure don't update the "tickets remaining" very often, but last I heard (in their Barnstormers ad), they had 180 left, earlier this year.

I'm on the Luscombe Endowment's Yahoo! group list, and haven't heard any news there. I'd ask directly, but I don't want to jinx myself. :D
It sure is excruciating, though... I bought my first three tickets when they first went on sale, about 18 months ago! But I haven't given up on it.


These guys are very reputable as far as these raffles go (it's not their first); the story with this one is that they wound up spending way more than anticipated on the resto, for starters.
The slumping economy hasn't helped, either... plus the fact that the T8F, although quite rare and very cool, is not the kind of Luscombe that most people crave. A restored 8A would probably sell tickets faster, as it has in the past.

BTW,it's parked (or maybe hangared) at Chandler (KCHD), which is nearest to Gilbert. I'd guess the Endowment's office is in Gilbert.
Here's a pic of it there:


http://jetphotos.net/viewphoto.php?id=6568913&nseq=0

Good luck, BTW!!
That is, I sincerely hope you win one of the "consolation" prizes... :devil:
 
rottydaddy said:
All I know is that if they ever have the drawing, I'm going to win it. :D
Got six tickets.

They sure don't update the "tickets remaining" very often, but last I heard (in their Barnstormers ad), they had 180 left, earlier this year.

I'm on the Luscombe Endowment's Yahoo! group list, and haven't heard any news there. I'd ask directly, but I don't want to jinx myself. :D
It sure is excruciating, though... I bought my first three tickets when they first went on sale, about 18 months ago! But I haven't given up on it.


These guys are very reputable as far as these raffles go (it's not their first); the story with this one is that they wound up spending way more than anticipated on the resto, for starters.
The slumping economy hasn't helped, either... plus the fact that the T8F, although quite rare and very cool, is not the kind of Luscombe that most people crave. A restored 8A would probably sell tickets faster, as it has in the past.

BTW,it's parked (or maybe hangared) at Chandler (KCHD), which is nearest to Gilbert. I'd guess the Endowment's office is in Gilbert.
Here's a pic of it there:


http://jetphotos.net/viewphoto.php?id=6568913&nseq=0

Good luck, BTW!!
That is, I sincerely hope you win one of the "consolation" prizes... :devil:
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It is good to know someone else who has tickets and is waiting for the drawing just like I am. Ever since I bought the tickets, I have been thinking about making a sod strip out on my dad's farm, and building a shed to put it in. Then I could have my own airport. I haven't started yet, but I will as soon as I win. If I don't win it, which is unlikely, I hope that you do.:D
 
Ah but I have 3 tickets TOO!!!!!!:rofl: I have been waiting also checking the site once a week.......well if I don't win I hope one of you 2 do:yesnod:
It sure would look nice on the end of my grass strip:yesnod::yesnod:
 
This looks good... even if I don't win, my chances of getting a ride in it may have just increased considerably. :D

Good luck to all of us... especially me! :devil:
 
I usually don't purchase any kind of raffle tickets unless there is a date associated with the raffle. If that date comes and there's no drawing, its fraud.
 
steingar said:
I usually don't purchase any kind of raffle tickets unless there is a date associated with the raffle. If that date comes and there's no drawing, its fraud.
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FWIW, their previous raffles have gone on schedule; they are a reputable group (probably the top "go to" folks for Luscombe parts service and support in the US), but this time they have been pushing the date back due to sluggish ticket sales and a blown-out restoration budget.

Their explanation here:

http://luscombe.org/index.php?page=news


I also see that the "real" latest update shows 136 tickets left (less than I thought) as of December 2009:

http://luscombe.org/LUSCOMEB-WIN-ME-tickets-remaining-12-7-09.pdf

Seems convincing enough to me, although it's true that these things are sometimes fraudulent.
 
UPDATE:
I saw that the Barnstormers ad had been pulled, so I queried the Endowment to see if the raffle was wrapping up.
Just heard from Doug Combs... drawing is now scheduled for around May 30th (of this year, LOL).

Good luck, everybody!
 
Thanks for the update!!!

Good Luck you 2..........if one of us wins the other 2 get a ride some day right!
 
rottydaddy said:
UPDATE:
I saw that the Barnstormers ad had been pulled, so I queried the Endowment to see if the raffle was wrapping up.
Just heard from Doug Combs... drawing is now scheduled for around May 30th (of this year, LOL).

Good luck, everybody!
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Thanks for the info. I was going to buy a ticket for the Cub that the Dakota Territory Air Museum is giving away, but maybe I'll wait until after May. No use having two airplanes. :D
 
Good luck to all.
In case you missed it, there was an auction of the assets of a company that was trying to build nose-dragger Luscombes. I think that they sold some completed models for $70,000. That is pretty cheap!
 
As of late today... I have officially gone from the edge of my seat to wherever it is you go after that. The floor, I guess..?



"For those of you wondering. The drawing is closed.
Pre-audit was going well as we matched the first 550 tickets to the spreadsheet. We then found that over 100 entries in the audit spreadsheet had input or sorting errors. We are now RE-inputting the ticket data for the audit to the spread sheet so that the drawing can proceed. Sorry for the short delay- Results will hopefully follow by this weekend.

Most Sincerely, Doug Combs"
 
From the official announcement...



The lucky WIN ME drawing winners are:
Grand prize Luscombe T8F Airplane - Moiya Linden, Wickenburg, AZ- ticket 893
Garmin GPS - James Ryan, Kingston RI – ticket 3074
Icom Radio - Tracy Martin, Clayton GA - ticket 334
$250 gift purchase certificates -
Buddy Wood, Corpus Christy, TX
James Stephenson, Benson, NC
‘THE LUSCOMBE’ book by Saletri -
Bill Huson, Georgetown, ME
Randy Hand, Billings MT
‘THE GOLDEN AGE OF LUSCOMBE’ -
Benjamin Bailey, Altus, OK
Tony Ginn, Rosamond, CA








Oh, well...
:sad:


But there's the 1940 Air Terminal Museum's '58 C172 raffle, and the Dakota Territory Air Museum is raffling off a '42 J-3 Cub this summer as well... :D
 
Thanks for the update. I've been looking for some information since the first of this month, but as of last week, the only thing that I could find was the old PDF that told how many tickets they had sold since December 7th. You are an insider as far as info I guess. Anyway, sorry I can't give you guys a ride in my new Luscombe. Maybe next time.
 
Maxmosbey said:
Thanks for the update. I've been looking for some information since the first of this month, but as of last week, the only thing that I could find was the old PDF that told how many tickets they had sold since December 7th. You are an insider as far as info I guess. Anyway, sorry I can't give you guys a ride in my new Luscombe. Maybe next time.
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I signed on to their Yahoo! group a while back; that's the only way to get updates on any timely basis (via email).
Yeah, it's too bad... I had a serious hankerin' for that bird; it would have been perfect for me. But a Cub wouldn't be bad, either... I'll probably cave in soon and buy a ticket for that one, too.
 
Rottydaddy

If you think you have a good chance at it.....I won't enter, that way when you fly it home you can stop by my house and land on my nice grass strip and give me a ride eh :thumbsup:

thanks for the info
 
Skyhawk4754 said:
Rottydaddy

If you think you have a good chance at it.....I won't enter, that way when you fly it home you can stop by my house and land on my nice grass strip and give me a ride eh :thumbsup:

thanks for the info
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Not sure exactly where you live, but knowing the wind and wx limitations when flying a Cub any considerable distance, due to diversions I could wind up anywhere on the way home, so it's a deal! :D

As for my chances... I thought I had a pretty good chance with 6 tickets in the last one, but as usual, the winner had only one. There's a lesson there, I think... :wink2:

Go ahead and buy a ticket- the sooner they're sold out, the sooner they'll have the drawing. And better the winner should at least be a friendly Internet acquaintance, rather than a total stranger! :D
 
Moiya Linden and her son are very lucky....student pilots, last medical 2004 and now they own two of the 29 Luscombe T8Fs in the US.
N478TF and N454LE (old number N80929). I hope this was a legitimate raffle. Max
 
Who knows whether it was or not? I have always believed that the AOPA give away is rigged. Take a look at who wins it every year. I'll guarantee you it isn't just some private pilot who wishes he had an airplane of his own.
 
Rule #1 when buying lottery tickets: Always buy the winning ticket. Do not fool around buying runnerups.
 
Richard said:
Rule #1 when buying lottery tickets: Always buy the winning ticket. Do not fool around buying runnerups.
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I'm always sure I've done so, but something always goes wrong. :rolleyes2:
Except for the one time I bought a ticket for 1/2 hour of aerobatics dual... that time I bought the right one! :thumbsup:
 
I don't know if anyone is still following this thread, but I think it is interesting that the T8F that was won by a Moiya Linden last summer has never been given to her. If fact the T8F is still registered to the Luscombe Foundation. Now the Luscombe Foundation is having another raffel........Buyer Beware!
 
Maxmosbey said:
Who knows whether it was or not? I have always believed that the AOPA give away is rigged. Take a look at who wins it every year. I'll guarantee you it isn't just some private pilot who wishes he had an airplane of his own.
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I like to think it's a legit giveaway, since to game the winner would be illegal, but I do wonder sometimes.....
 
Maybe she just couldn't afford to claim it (taxes, etc.).

It's only been four months, too, since the drawing was in June. The article below says the official presentation was slated to happen at Airventure, and she planned to give the plane to her son.

http://www.generalaviationnews.com/?p=24610
 
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TangoWhiskey said:
Maybe she just couldn't afford to claim it (taxes, etc.).
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Good guess, but I have no idea of its accuracy. My wife works for an organizaion which holds numerous promotional contests every year. Particularly with larger prizes, "winners" decline the prize, which is then offered to the second place winner, and on down the line.

As a for instance, a round trip for 2 to the Final 4 may turn out to be an $8,000 retail value package after tickets, airfare, hotels, etc., meaning that if you accept the prize, you'll need to come out of pocket for ~$3k in income taxes the next year.

Personally, seeing the Final Four, or the Super Bowl, or whatever, generally isn't worth *that* much to me.
 
kyleb said:
Good guess, but I have no idea of its accuracy. My wife works for an organizaion which holds numerous promotional contests every year. Particularly with larger prizes, "winners" decline the prize, which is then offered to the second place winner, and on down the line.

As a for instance, a round trip for 2 to the Final 4 may turn out to be an $8,000 retail value package after tickets, airfare, hotels, etc., meaning that if you accept the prize, you'll need to come out of pocket for ~$3k in income taxes the next year.

Personally, seeing the Final Four, or the Super Bowl, or whatever, generally isn't worth *that* much to me.
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Winning $25k plane for, what, $6k? That's a pretty good deal! Assuming, I suppose, that you can take out a loan to cover it if need be.
 
flyersfan31 said:
Winning $25k plane for, what, $6k? That's a pretty good deal! Assuming, I suppose, that you can take out a loan to cover it if need be.
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Depends on how they value the airplane. If the numbers are as you suggest ($25k), the taxes will likely be over $10k, which still makes it a deal. However, if they value it at $75k because they entirely rebuilt it using A&P's who could trace their lineage directly to Orville and Wilbur, and because they got the new aluminum from Mr. Reynolds' personal stock, you could easily come out upside down. At that point, you would owe $35k in taxes on an airplane that might only bring $25k.

This always worries me about the AOPA give aways. By the time they load those airplanes up with goodies and elbow grease, it would be easy to have a cost on paper far above what the plane would bring on the open market. If the numbers are far enough apart, "winning" the airplane becomes a bad deal.
 
kyleb said:
Depends on how they value the airplane. If the numbers are as you suggest ($25k), the taxes will likely be over $10k, which still makes it a deal. However, if they value it at $75k because they entirely rebuilt it using A&P's who could trace their lineage directly to Orville and Wilbur, and because they got the new aluminum from Mr. Reynolds' personal stock, you could easily come out upside down. At that point, you would owe $35k in taxes on an airplane that might only bring $25k.

This always worries me about the AOPA give aways. By the time they load those airplanes up with goodies and elbow grease, it would be easy to have a cost on paper far above what the plane would bring on the open market. If the numbers are far enough apart, "winning" the airplane becomes a bad deal.
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There is opportunity to "appeal" the valuation for tax purposes. That being said, it is a tough decision. But assuming there is a willing buyer you will always come out ahead on the AOPA plane. Some POS old plane that someone might be raffling? Maybe not.
 
alaskaflyer said:
There is opportunity to "appeal" the valuation for tax purposes. That being said, it is a tough decision. But assuming there is a willing buyer you will always come out ahead on the AOPA plane. Some POS old plane that someone might be raffling? Maybe not.
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Do you have any idea how AOPA values their sweepstakes aircraft? My guess is that they are bound by certiain rules too. For instance, if they get $100k of work and gizmos donated to their latest aircraft, spend another $50k out of their coffers and toss in an airframe that cost $50k, they have a $200k paper airplane. I doubt they can award it to you as a $75k airplane, even though that may be all the market supports for that make/model/condition/equipment.

But I don't know.

Anyone out there with first hand knowledge?
 
Good question. Never thought about it.

Reason says, what is fair market value for this bird, and pay tax accordingly.

Tax law, however, has nothing to do with reason. "They spend $100k fixing up this $25k plane, so you just got $100k in income."

I suspect the latter, ludicrous though it may be since you couldn't even sell the asset to pay the taxes, is true.
 
My Cherokee would have taken an easy $100 grand to get done what it had. It was evaluated at the actual price of a Cherokee. Didn't matter what they did to it.
 
steingar said:
My Cherokee would have taken an easy $100 grand to get done what it had. It was evaluated at the actual price of a Cherokee. Didn't matter what they did to it.
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Was your aircraft a sweepstakes aircraft, or are you talking property taxes? Vastly different issue, I imagine.
 
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