I don't frequent Reddit, but in some tangentially-related google searching recently I stumbled across the following:
https://www.reddit.com/r/edc_raffle/comments/7qkzbz/omega_seamaster_300_master_coaxial_100_spots_at/

That's a completed raffle for a pre-owned Seamaster 300 Master Coaxial, in which the seller got their full "asking price" (which per the raffle rules has to be at or below documented market price...) of $3800 and the buyer got a nice watch for a $38 entry...

Just curious what everyone's thoughts are on these? Has anyone participated as a buyer (gambler) or seller? As a seller it seems like more effort than selling on the forums, but at least you get a known price. As a buyer, I can see it being either a fun way to get a watch at a fraction of market value, or just a slower way of bleeding your savings with the real potential of having no watches to show for it... The rules seem built to protect the buyer (gambler), with the exception of the rule insisting that raffle slots are purchased with PayPal friends and family...that seems to be a violation of PayPal's TOS...

NOTE: I don't have any affiliation with the seller and am not even a registered user of Reddit...I am not endorsing this I just wasn't aware it was a "thing".

 

I'm guessing these end up crossing state and international boundaries, and end up being less than totally legal in every jurisdiction the participants reside...which makes me wonder at what point the authorities take notice. Probably a $4,000 Omega is not going to raise eyebrows on its own, but a dozen of these auctions running every day? I wonder.

It's not unlike the office typical Super Bowl pool getting a pass because the entries are only a few dollars, but the feds seizing assets and potentially prosecuting the organizers of some of the NFL pools that grow into the $ millions..

 

I go to Reddit a fair amount. I have even put in on a couple raffles. The issue I have with the raffles is that it takes away a lot of the fun of watch shopping. Instead of doing research for a specific model you love and have grown an attachment to you just put in for a raffle for something you might like.

So sure sometimes you do see great pieces in raffles I often feel that the raffle sites help people build really generic collections. They can gamble $40 for a watch they don't love but that takes out a lot of the fun for watch collection journey for me.

 

An early version of this raffle system (promoted through members of r/watches) was unceremoniously shut down for unexplained reasons. Some suspected that the fix was in, but that was never substantiated.

I would hesitate to get involved with anything similar.

 

I have played with the raffles a few times. It's not worth it, since you're limited time zone wise to get your entry in, and they play on people's lottery sense in that the "random only" raffles tend to be less popular than those where you can pick your numbers.

 

Has anybody tried to go to the raffles page recently? It seems to be down and I can't really find much information on it.

 

Raffles page moved, and now require vetting and a seven day period before being able to participate.

 

I made it through that "cut" that they stated a couple months ago, is this a new thing as of a day or two ago? I was able to access it last week when I was looking at entering for a Tudor. I guess either way I haven't participated in months so maybe it isn't worth trying to get back in anyway, I will sell my pieces other places.

 

That was that cut. And its offline now as you said. Ah well.