Would definitely be held for x amount of time and if funds not enough would be refunded.
I'm assuming that you say escrow for the added security? Don't have any personal experience with escrow but will certainly be willing to look into it.
Basically for anybody else, you are just a random person telling that you will give out a car. People have to take your word for it.
Bitcoin transactions are irreversible, so if you lied, people will just lose their money.
And that's where escrow will come into equation. The escrow will actually hold the money until you deliver the car. And the escrow will have to be a reputed member of the community.
Another problems you have to think about are the logistics. I assume you are from UK. But the people in this forum are from all over the world, you will be unable to deliver the car to any location.
Even the escrow is a problem, since in case the raffle is cancelled, the escrow will have to send back the money to quite a number of people. From my experience in this forum, this will not go for free.
And proving (to the escrow) that the car was delivered is something I also don't know how it can be done. (Remember, taking the word for it is not really a proof)
(Don't despair of my "negativism", I just try to make your life easier and urge you to make your homework in time.)
I was just thinking that the transactions could contain email address or the like (obviously would need some contact info), then a case of assigning a number to each transaction and using a Random Number Generator?
Is just an idea at the moment - certainly be more exciting than the usual hoi polloi that goes with selling cars!!
That can be easily achieved at the end: the winner can give the e-mail info and a signed message proving he owns the bitcoin address what has the winning ticket.
