WOW… This Kid Has A Future In Marketing

(This post has been updated since it was originally published. Scroll to the bottom of the article for new developments on the story. Note: I no longer believe that Mr. Steen is as good of a marketer as I originally thought.)

Now, onto the original article…

Here is the direct link to Ron Steen’s eBay auction.

I havn’t sat down and really tried to figure out if this is a good deal for whomever invests in this kid; but nevertheless, this Marketing Moment is sure to make it into the eBay history books…

Hi there, my name is Ron Steen. I am selling 2% of my future earnings for a chance to go to college. I am offering up 2% of every dollar I make for the rest of my working life for a starting bid of $100,000. I am starting Cal State University of Fullerton on August 21st, 2006 and I want to pay for college and its expenses by myself. In exchange for money to go to college I will send you 2% of whatever my income is annually in the form of a check once a year. This also means if I win the lottery you will get 2%, any income is your income (but I don‘t play the lottery so don‘t count on that one) The papers will be drawn up by my lawyer and you are more than welcome to look them over.

I am a really good guy: I have been the host of a tv show for the city of Anaheim, I have a dynamic personality and I am team player who is willing to learn. I have no drug or alcohol problems and my car is completely paid off. I have the drive and desire to do well in life. I want succeed, and I will. I am going to study communications and want to get into broadcasting and radio. After I complete my education I plan on making at least 30 million dollars in my lifetime. When I meet my goal, you will make six times your original investment. Where else can you invest in something that pays off every year and has the potential of making you over six times your money? Not the stock market, not real-estate, definitely not gambling. I can’t really think of any one thing that pays off ever year like this. With this investment you are guaranteed one check every January for 40 years. I will be paying you in my working years, from the moment I finish college in 2012 until I am 65 in 2052 you will receive a check in the mail every January made out for 2% of my earnings from the previous year according to my W2’s.

I want to make money, and am going to continue to work hard through college and into my career. I don’t want to take out loans and go into debt, I want to catapult myself to the top. I want you to make a lot of money for believing in me. The more you make, the more I make, the better this will work. I am a man of my word, and you will make a profit. This is a great opportunity for anyone out there who wants to invest in someone’s future and be able to reap the benefits of the person they help. Thank you and if you have any questions please feel free to ask -Ron

A few small disclaimers:
Payment will be made in one lump sum within one week of auctions end.
I will not accept Paypal.
Yearly payments are transferable.
This agreement does not include any money I may inherit.

UPDATE 08.12.2006

Ronnie, Ronnie Ronnie… What are you doing to yourself my friend? Word on the street is that you lied about your SAT scores. Why ya gotta be doin that?

And on another note – I finally took a moment to analyze his proposition and see if this would be a good investment. My analysis…

This is the worst investment in the history of investing.

Despite lying about his SAT scores and promoting a horrible investment, I still maintain a bit of respect for Ron because the concept of his publicity campaign was quite remarkable. However, his follow-thru on the strategy was highly UN-remarkable.

Ya got a lot to learn kid…

Wishing you (And Ron) continued success…

…bizMAVERICK…
Brad Williamson

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