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Monday, October 31, 2011

Can you afford to win?

The Princess Margaret Foundation is currently running a TV commercial to urge the public to make donations toward cancer research.  To motivate potential donators, the Princess Margaret Foundation gives away a few luxury prizes.  The commercial shows a $300,000 Ferrari, but this is just one of many they say.

Curious as to what else can be won, I went on The Princess Margaret website and had a look.  I found a $3,000,000 mansion, a $1,000,000 house and a few luxury condos.  Other than the $300,000 Ferrari there were a number of other cars. 
All in all the various prizes amounted to about $10,000,000!

Naturally, this got me thinking … how many tickets does the Princess Margaret Foundation have to sell to recover the ten million they spent on these prizes?  If they have ten million to spend on these items, why not put that money toward cancer research?   

Do we need mansions and sports cars to motivate us to donate?  What’s is wrong with offering a modest house, furniture, appliances and jewelry?

Think for a moment if you were to win the $3,000,000 mansion … would you be able to afford living in it?  Think of the taxes on such a property, the amount of money it would take to heat and cool such a living space, not to mention the furniture it would take to keep so many rooms liveable and the work it would take to keep them all clean.  You would need considerable staff to look after the house and the garden.

Not interested in a mansion but you fancy the Ferrari?  You might have a problem there too.  Not only will you pay a small fortune on taxes every year, but that baby guzzles up gas like a sponge.  Gas prizes being what they are, you better open your wallet, wide!  As for car insurance, open your wallet even wider.

So why buy a ticket if you cannot afford the prize?  To sell it and pocket the money?  How many buyers do you think you will find for a $3,000,000 mansion or a $300,000 car?  Most people have downsizing and living more frugally on their mind.

'Help conquer cancer' the Princess Margaret foundation says ... how, by wasting millions of dollars?  Visit their website and see for yourself and then decide ... is this a foundation you want to donate to?  I don't.

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