NSW Man Wins Micronesian Island in Raffle

Market Insights
7 years ago
1 minutes
A New South Wales man is now the proud owner of a 16-room resort on the Micronesian island of Kosrae, after his winning ticket was drawn in a raffle.
The man, only identified as Joshua, snapped up the piece of paradise for just $49 in the competition.
Queensland couple Doug and Sally Beitz decided to raffle off their island home, rather than place it on the market, with the move garnering more than $2.5 million in ticket sales.
The pair moved to Kosrae with their three young children 22 years ago, but after the birth of their granddaughter, they’ve decided to move back home.
“We’ve had our time in the sun and enjoyed a career most people would never even dare dream about, but our current goal now is to become professional grandparents. We feel like a new chapter in our lives is beginning, and we’re ready to pass the baton to someone else,” Doug says.
The daring stunt has attracted 53,000 bidders from all over the world since it was launched in April, with tickets selling for just $49 each.
Kosrae, north of Nauru, is surrounded by picturesque reefs and world-class surf, it also contains an international airport and 14th century ruins, while the island itself is around 100 square kilometres and is home to more than 6,000 people.
Joshua will now take over ownership of the debt-free island, which is profitable, and has more than 20 years left on its lease.
Images: Kosrae Nautilus Resort