Entire Marvel Legends Collection For Sale 2002-2022

[Gam13it]

Personally I would avoid the eBay route. Don?t sellers have to claim any sales as income now if they use their platform?

[sixshot1981]

Originally Posted by Canukle

You need a lottery license to hold a raffle, legally.

(Link to Toronto's bylaw, since the OP is Toronto based)

https://www.toronto.ca/services-paym...ences/raffles/


This dude is trying to hold a lottery for a prize he values at over $35,000. A personal lottery.

Super illegal.

Just piece it out and sell it individually over the year. If you're worried about time, do it one wave at a time instead of all at once

It's a sales thread not a discussion thread. I'm sure if there's an issue the admins can weigh in on it.

[Wintermute]

Originally Posted by Canukle

You need a lottery license to hold a raffle, legally.

(Link to Toronto's bylaw, since the OP is Toronto based)

https://www.toronto.ca/services-paym...ences/raffles/


This dude is trying to hold a lottery for a prize he values at over $35,000. A personal lottery.

Super illegal.

Just piece it out and sell it individually over the year. If you're worried about time, do it one wave at a time instead of all at once

Looking at the laws for Ontario, unless he's a charitable or religious organization, it also looks like he's not allowed to run a raffle.

https://www.agco.ca/lottery-and-gami...20administered.

[philtastic]

Originally Posted by Wintermute

Looking at the laws for Ontario, unless he's a charitable or religious organization, it also looks like he's not allowed to run a raffle.

https://www.agco.ca/lottery-and-gami...20administered.

We all pray at the altar of Hasbro.

[Canukle]

Originally Posted by mlcollector16

I guess napseeker, canukle and wintermute should attened banquet halls on Thursday and fridays in the GTA and see how many raffles are conducted at stags with no license with some pots exceeding 30k.

"Other people break the law, so I should be able to also" isn't a legal defence. You may want to read the first line here: https://staganddoe.ca/raffles - it's still gambling and is still subject to gambling laws and licenses

[ghostlurk29]

What are the income tax implications when selling a large collection in one-shot?

If one were looking to average $30+ per figure, I don't think a capital loss would apply. And a 5-figure bank deposit would surely catch the attention of the CRA, if not accounted for.

Selling-off in smaller, sub-$1000 chunks to different buyers seems like a better choice (ideally cash transactions).

[Canukle]

Originally Posted by mlcollector16

Easy solution so you can sleep easy ...

And you know what, everything you proposed might be the legal loophole you need. There are, of course, conditions you might need to have to get around the gambling laws...

- You need to make sure that there is a "no-purchase-necessary" option
- The price of admission into your club or whatever should be fair market value - Can't just charge people $500 to talk about toys. But FMV is easy to research.

But, if that's the route you want to go, I'm sure a lawyer can help make sure you're not going to get yourself into trouble. Again, if you're the person that gets in trouble for trying to skirt the law, then "people do it all the time" isn't going to be a legal defence.



And by the way, this has nothing to do with altruism or wanting half your collection or whatever you think. The question came up of the legality of raffling off a collection, and as someone with some 2nd-hand experience with rules around things like that, I offered input. I'm not sure why you got so offended, but imagine if you came on here and started saying "I can drive 160 down the 401 because I see people do it all the time"... well sure, but there are laws you'd be breaking.

Anyway, you do you. You've made it pretty clear that you don't really care about the legality of what you're planning

[Wintermute]

Originally Posted by mlcollector16

I guess napseeker, canukle and wintermute should attened banquet halls on Thursday and fridays in the GTA and see how many raffles are conducted at stags with no license with some pots exceeding 30k. Further to Canuckle, just because the collection is valued at 35-38k does not mean I am selling it for that price, and I don?t see 20 years of collecting, making trades, grinding on the hunt for figures, going to conventions and enjoying my collection as a ?personal lottery? when I?m trying to get some money back to put towards my child?s education, it?s more of a very small return on a hobby that brought me a lot of joy

Hey man, you can do whatever you want. I was just curious on the state of the law around raffles in Ontario based on this thread and the posts. I looked up what the law states and posted it.

The chances that police/municipal by-law/the AGCO would come down on you for doing a raffle like this: probably pretty low. But I figured I'd post the information. From my end, the purpose of posting wasn't to ruin or spoil your plans for selling your collection, but to present some info so you know exactly the state of the law for what you're trying to do - especially since you stated that it's legal, when on my review it doesn't appear to be. This comes from a place of not wanting you to potentially get screwed over.

Cheers

[sixshot1981]

Wow this thread needs to be locked.

Sorry to see it got hijacked.

[Fermix]

Still thinking the eBay auction with local pick up would be the best option. I think people would be more agreeable to an auction where they may lose but not spend money, as opposed to losing a raffle that they staked $100-$200 in.