Can I ask for the cash value of a prize?

August 8, 2011 9:43 AM

At work, I won a new macbook air in a contest that I don't want/need When I get it, I plan to just sell it on craigslist, where I'll take a loss compared to its retail price. Thing is, I'm 98% sure that my boss, who organized the contest, hasn't actually bought the computer yet. Would it be rude to just ask him to give me the cash he would have spent directly?
posted by anonymous to Work & Money (12 answers total)

The way that it works at my job when we have contests like that is that we end up getting a gift card for the value of the product, instead of the actual product itself. So, you could propose that instead. We are also taxed on the prize as if we were paid the purchase price, which can be around 40% in some cases. I generally just sell the gift cards on Craigslist. Apple gift cards are the ones that I have had the best return on: that is, I have been able to sell a few $500 Apple gift cards for $450, but I generally can't get more than $400 for a $500 Best Buy card.
posted by sacrifix at 9:47 AM on August 8, 2011

You can't take a loss on something you've gotten for free. Seems tacky and greedy to me.

You might be able to ask for the receipt and return it for an Apple gift card, though, and either use or sell that.
posted by Metroid Baby at 9:50 AM on August 8, 2011 [4 favorites]

My firm does that too when someone wins a contest, you get a gift certificate of that amount. You won the item, not the money. Whatever you decide to do with the item, if it yields in $5 bucks, that's how much the ITEM is worth to you through the contest. You shouldn't consider this win as a how can I get the most out of my company scheme.

Don't ask him for the cash, you end up losing more than the laptop, as your image is on the line. You need to be grateful and say, this is awesome!
posted by icollectpurses at 9:54 AM on August 8, 2011 [1 favorite]

Apple products have an insanely high resale value, especially if it is the new new model. Flip it on eBay, not Craigslist, and you will get the highest price... most likely 1-2% off of what it would cost new.
posted by darkgroove at 10:39 AM on August 8, 2011 [2 favorites]

Think of it this way, if he cuts you a check for the cash value of the prize, you'd have to pay taxes on it...
posted by litnerd at 10:41 AM on August 8, 2011

A data point to help you: if your boss was planning on buying the Macbook Air on Amazon.com, due to a recent sale they're currently out of stock on many models of the Air (not just with long shipping times, totally not listed for sale). You could use this to propose the cash instead of him waiting to order from Amazon to restock or buying from an Apple store, where the price is higher.
posted by sharkfu at 10:48 AM on August 8, 2011

Anon: "At work, I won a new macbook air in a contest that I don't want/need When I get it"

If I were your boss, I'd be wondering why you're hassling me about a contest you won at the expense of other people who actually wanted the prize.

Show a little grace. Either decline the prize or politely accept and discretely do what you will.
posted by mkultra at 10:50 AM on August 8, 2011 [17 favorites]

Discreetly inquire around the office to see who might want it more than you. Then give it to them.
posted by Thorzdad at 11:05 AM on August 8, 2011 [6 favorites]

I think it's totally legitimate to ask for the cash, seeing as because it's from your employer, you may be required to pay taxes on its value. (Check with HR & your accountant.)
posted by gracedissolved at 11:44 AM on August 8, 2011

I would ask him if he'd rather just give you a check or a gift card to save himself the trouble of having to buy the computer. Phrase it so you're trying to take the task off his hands. If he says no, then shrug and say, "Great. Thanks!" Be aware he may ask how the computer is working, how you're liking it, etc and decide how you're going to handle that if you do decide to sell it.
posted by lemniskate at 12:11 PM on August 8, 2011

Don't do it. You'll look greedy. Also, you're not taking a "loss" on its retail price when you sell it on Craigslist. Assuming you didn't pay to enter this contest, aren't you making 100% profit?
posted by Buffaload at 12:14 PM on August 8, 2011 [1 favorite]

You'll be able to sell it for 99% of retail on eBay. Your only loss will be the costs associated with the auction and the PayPal fees. Just don't open it or use it at all and sell it only to customers within the US. Take a look at expired auctions (you might need an account for this...) and see what they are going for if you don't believe me. Likewise, look over past auctions and see how they described the item, what rules they had in place for the auction, etc, and just follow those norms. A 3-day auction with no reserve will get you what you need.
posted by pwb503 at 12:46 PM on August 8, 2011