I was on Ebay about two weeks ago and noticed several listings (for the same company) to buy shares of a planned film. I didn't read the whole proposal, but the filmmakers, I think, had script, storyboards, actors, equipment and, I guess, a trailer. They were looking for completion funds. Is this a smart way to raise monies or would it be better to appraoch potential sponsers/banks with a firm business plan and creative materials in hand?
Thanks
Wow! Was anyone bidding? Not a bad idea! Lots of people use ebay, so I guess it's a good way to get funding and interest in the film. Maybe it would work best if you went else where first and then advertise on ebay, mentioning current investors? Might seem like less of a gamble to ebay users? What do other people think?
but how is the project going to be evaluated after all.
I'm not sure if anyone was bidding, I tried to check back because I know they hold the listings for 90 days after they've run, but I didn't get the reference number-did a search-nothing. The company had 10 seperate listings offering 15 shares each at 1000 dollars starting bid, so I quess they were hoping for at least 150,000.
Syscon-good question, there is no way for an investor to evaluate the project other than what pre-production stuff they presented and perhaps, a portfolio of previous works ...and a good pitch! But that is the risk you would take in many investments.
I think Amy hit the nail on the head when she suggests finding preliminary sources of funding first, presenting that info with your package
Thanks for the reply bird.