Two years ago, I was picked as the grand prize winner of a golfing trip to Ireland. The winner and a guest would sail around the country in a cruise ship, ducking into ports and playing at some of the great courses strung along the island’s coasts. The prize was valued at $25,000, and there was no cash substitute, not even at a steeply reduced dollar amount. Since the taxes alone would have been way more than we ever spend on a vacation, I had to take a pass. The prize devolved to some elderly gent from Florida who took his grandson. I grudgingly wished them a good time.
Welcome to The Straight Dope, deweyd. It helps others reading your thread to link to the article that caused you to post in the first place. I’m assuming it was the “Does anyone ever actually get the house …” article?
And it sounds like the people offering the prize in your situation had this stuff they just had to get rid of for purposes of their own, or just didn’t know that most people prefer the cash.
I’m reminded of the Simpsons Stampy episode.
I also have to wonder why people get so excited when the announcer says: “A new car!” If they just want the cash, what’s the big deal?
I can see the taxes being a major impact on a person’s final decision though. Gameshow host “You’ve won a tax burden of $8,000!”