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Oakmont

bobcat88bobcat88 Advanced Members Posts: 152 ✭✭
Trying to surprise my dad with a round at Oakmont, and while I don't know any members, I've read on here that the best chance to get out there is find a charity with a round as an auction item.



Does anyone know if there are any auctions currently going on?

Comments

  • rahatbmcrahatbmc Members Posts: 67 ✭✭
    bobcat88 wrote:


    Trying to surprise my dad with a round at Oakmont, and while I don't know any members, I've read on here that the best chance to get out there is find a charity with a round as an auction item.



    Does anyone know if there are any auctions currently going on?




    One auction just closed: https://e.givesmart.com/events/bZO/i/_Golf/



    Threesome at Oakmont went for $4,679.00
  • bobcat88bobcat88 Advanced Members Posts: 152 ✭✭
    Wow
    rahatbmc wrote:

    bobcat88 wrote:


    Trying to surprise my dad with a round at Oakmont, and while I don't know any members, I've read on here that the best chance to get out there is find a charity with a round as an auction item.



    Does anyone know if there are any auctions currently going on?




    One auction just closed: https://e.givesmart....ts/bZO/i/_Golf/



    Threesome at Oakmont went for $4,679.00




    Wow...I was anticipating spending 4 figures, but that is surprising.
  • schleyschley Love ya don't tell ya enough! Advanced Members Posts: 1,092 ✭✭
    There's one on charitybuzz right now. I do a lot of charity auctions and end up with 5-10 rounds a year at least. Oakmont is always over 3500 and typically 4500-5500 for a threesome. You are helping charity this way as well.
  • raynorfan1raynorfan1 Advanced Members Posts: 3,503 ✭✭
    I realize the going rate is enough to make your eyeballs bleed...but it's a better value than you might think.



    Oakmont threesomes go for $3,500 - $5,000 in charity auctions. And they usually includes greens fees, caddie fees, and a meal.



    FMV is probably ~$1,000, so $2,500 - $4,000 is tax deductible if you go with an auction for a 501c(3). If you're in the 24% tax bracket, that makes your effective price $2,900 - $4,000. So you're at $966 - $1,333 per guy.



    Pebble Beach is the best public comparable. Pebble is $550/guy in greens fees. Plus $95 in caddie fees (assume you'd tip the caddie at Oakmont the same as you'd tip at Pebble). So you're at $645. But Pebble also requires a two night minimum stay, cheapest room is $790 plus tax and service charges, which comes to $1,809. Say you bunk with another guy, that knocks it down to $905/guy. Lunch in the Tap Room gets you for another $50/guy, easy.



    So all in - at Pebble - you're looking at $550 + $95 + $905 + $50 = $1,600.



    The auction route feels expensive...but really, should Oakmont be less expensive than Pebble Beach?
  • UncleJohn’sBandUncleJohn’sBand Advanced Members Posts: 970 ✭✭
    raynorfan1 wrote:


    I realize the going rate is enough to make your eyeballs bleed...but it's a better value than you might think.



    Oakmont threesomes go for $3,500 - $5,000 in charity auctions. And they usually includes greens fees, caddie fees, and a meal.



    FMV is probably ~$1,000, so $2,500 - $4,000 is tax deductible if you go with an auction for a 501c(3). If you're in the 24% tax bracket, that makes your effective price $2,900 - $4,000. So you're at $966 - $1,333 per guy.



    Pebble Beach is the best public comparable. Pebble is $550/guy in greens fees. Plus $95 in caddie fees (assume you'd tip the caddie at Oakmont the same as you'd tip at Pebble). So you're at $645. But Pebble also requires a two night minimum stay, cheapest room is $790 plus tax and service charges, which comes to $1,809. Say you bunk with another guy, that knocks it down to $905/guy. Lunch in the Tap Room gets you for another $50/guy, easy.



    So all in - at Pebble - you're looking at $550 + $95 + $905 + $50 = $1,600.



    The auction route feels expensive...but really, should Oakmont be less expensive than Pebble Beach?




    Yeah, what he said.
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  • oneunderbogeyoneunderbogey Lefty Boomers Posts: 627 ✭✭
    edited March 7
    The FMV of a threesome at Oakmont is 3500 to 5k people aren't doing it for charity. You can lie on your taxes and say it's 1k and most likely get away with it but that's tax fraud.
  • raynorfan1raynorfan1 Advanced Members Posts: 3,503 ✭✭


    The FMV of a threesome at Oakmont is 3500 to 5k people aren't doing it for charity. You can lie on your taxes and say it's 1k and most likely get away with it but that's tax fraud.




    That’s not how it works. The charity should provide you with a statement of what FMV is, and that would be based on what the member paid (likely about $1,000). The member (assuming they donated it) can deduct the $1,000; the buyer can deduct the remainder. The IRS is indifferent because if the FMV was higher, it just changes who gets the deduction.
  • bobcat88bobcat88 Advanced Members Posts: 152 ✭✭
    I definitely think it'd be worth it, I was a little taken aback because I bought a threesome at Oak Hill (mind you not on the same level of Oakmont, but no slouch) for $750 in the fall at a charity event.



    I was interested to see what the tax situation was on that kind of donation.



    Appreciate all the responses.
  • MaxBuckMaxBuck Advanced Members Posts: 279 ✭✭
    edited March 8


    The FMV of a threesome at Oakmont is 3500 to 5k people aren't doing it for charity. You can lie on your taxes and say it's 1k and most likely get away with it but that's tax fraud.


    It's not tax fraud in the least. Tax laws don't require a specific motivation for a donation; only that the donation be to a qualified organization, and that FMV be used to deduct the value received.
  • raynorfan1raynorfan1 Advanced Members Posts: 3,503 ✭✭
    bobcat88 wrote:


    I definitely think it'd be worth it, I was a little taken aback because I bought a threesome at Oak Hill (mind you not on the same level of Oakmont, but no slouch) for $750 in the fall at a charity event.




    IME Oak Hill auctions are often a bit of a bargain. Even vs. peers "ranked" similarly or lower (Olympic, LACC, Sebonack, etc.), it just doesn't have the same drawing power.



    I assume it's more geography related than anything else - not near a major city, with a lot of other great golf in the same region.
  • johnnylongballjohnnylongball Advanced Members Posts: 546 ✭✭
    raynorfan1 wrote:


    I realize the going rate is enough to make your eyeballs bleed...but it's a better value than you might think.



    Oakmont threesomes go for $3,500 - $5,000 in charity auctions. And they usually includes greens fees, caddie fees, and a meal.



    FMV is probably ~$1,000, so $2,500 - $4,000 is tax deductible if you go with an auction for a 501c(3). If you're in the 24% tax bracket, that makes your effective price $2,900 - $4,000. So you're at $966 - $1,333 per guy.



    Pebble Beach is the best public comparable. Pebble is $550/guy in greens fees. Plus $95 in caddie fees (assume you'd tip the caddie at Oakmont the same as you'd tip at Pebble). So you're at $645. But Pebble also requires a two night minimum stay, cheapest room is $790 plus tax and service charges, which comes to $1,809. Say you bunk with another guy, that knocks it down to $905/guy. Lunch in the Tap Room gets you for another $50/guy, easy.



    So all in - at Pebble - you're looking at $550 + $95 + $905 + $50 = $1,600.



    The auction route feels expensive...but really, should Oakmont be less expensive than Pebble Beach?




    Pebble now requires a 3 night stay depending on the time of year. Enhances the point you're trying to make.
  • tideridertiderider Advanced Members Posts: 1,312 ✭✭
    i doubt i'll ever play pebble ... just too much money for 1 round ...
  • deadsolid...shankdeadsolid...shank ClubWRX Charter Members Posts: 14,336 ClubWRX
    tiderider wrote:


    i doubt i'll ever play pebble ... just too much money for 1 round ...




    Don’t rule it out completely. It can be done without the hotel stay.
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  • CCTxGolfCCTxGolf Going to the Masters...Someday Corpus ChristiAdvanced Members Posts: 727 ✭✭
    This is cool. Learned something new today. Had no idea about this charity auction world being a way to get onto some of these courses.
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  • bobcat88bobcat88 Advanced Members Posts: 152 ✭✭
    raynorfan1 wrote:

    bobcat88 wrote:


    I definitely think it'd be worth it, I was a little taken aback because I bought a threesome at Oak Hill (mind you not on the same level of Oakmont, but no slouch) for $750 in the fall at a charity event.




    IME Oak Hill auctions are often a bit of a bargain. Even vs. peers "ranked" similarly or lower (Olympic, LACC, Sebonack, etc.), it just doesn't have the same drawing power.



    I assume it's more geography related than anything else - not near a major city, with a lot of other great golf in the same region.




    Whoa whoa whoa, Buffalo’s not a major city (kidding)?? It definitely is great value to play a Major Championship course.
  • wrigleywrigley Advanced Members Posts: 129 ✭✭
    bobcat88 wrote:

    raynorfan1 wrote:

    bobcat88 wrote:


    I definitely think it'd be worth it, I was a little taken aback because I bought a threesome at Oak Hill (mind you not on the same level of Oakmont, but no slouch) for $750 in the fall at a charity event.




    IME Oak Hill auctions are often a bit of a bargain. Even vs. peers "ranked" similarly or lower (Olympic, LACC, Sebonack, etc.), it just doesn't have the same drawing power.



    I assume it's more geography related than anything else - not near a major city, with a lot of other great golf in the same region.




    Whoa whoa whoa, Buffalo’s not a major city (kidding)?? It definitely is great value to play a Major Championship course.




    Oak Hill is in Rochester, about an hour from Buffalo.
  • bobcat88bobcat88 Advanced Members Posts: 152 ✭✭
    wrigley wrote:

    bobcat88 wrote:

    raynorfan1 wrote:

    bobcat88 wrote:


    I definitely think it'd be worth it, I was a little taken aback because I bought a threesome at Oak Hill (mind you not on the same level of Oakmont, but no slouch) for $750 in the fall at a charity event.




    IME Oak Hill auctions are often a bit of a bargain. Even vs. peers "ranked" similarly or lower (Olympic, LACC, Sebonack, etc.), it just doesn't have the same drawing power.



    I assume it's more geography related than anything else - not near a major city, with a lot of other great golf in the same region.




    Whoa whoa whoa, Buffalo’s not a major city (kidding)?? It definitely is great value to play a Major Championship course.




    Oak Hill is in Rochester, about an hour from Buffalo.




    I know, I live in Buffalo. Was making a joke about him saying it wasn't near any major cities.
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