Tuesday, May 15, 2007

HSMF Fundraising Report

I am *so* excited to announce today that I am on the way to raising another US$1,000 for the Hokie Spirit Memorial Fund! This means, of course, that the wonderful, generous SL residents helped meet the first L$300,000 goal! That goal was surpassed this week, when those who participated in the Silent Auction on EduIsland helped raise nearly L$15,000. Then, tonight, the HSMF received an unexpected, generous donation of L$10,000 - which is great start for the next L$300K goal.

So, I put the first batch of Linden dollars up for sale on LindeX (a limit sell of L$265 to US$1.00) on the advice of one SL colleague. I expected this to sell in three days. However, I got impatient after waiting all day and see nada. In fact, I was quite discouraged to see that there was something like L$15 million in open orders at this rate. Another SL colleague (Coal Edge) shared his wisdom - he sells for 267/1.00. I tried this tonight and within 10 minutes, ALL funds had sold and the net result was $84 greater than my goal! Now - I just have to move it to PayPal and give a check to Virginia Tech!! It appears that Edge's logic to sell at a rate where there is a low amount of open orders works very well (generally the lowest rate +1 or +2). If I'd gone with 265, I'd possibly have waited 3 more days for a mere US$8.00...

One question I am trying to get answered is whether not LindenLab will waive the 3.5% conversion fee. This would give another US $40 (or so) back. I can understand if they do not, but it would be great if they did that. Perhaps they'll make a matching gift ?? ;-)

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