How to Determine the ARV of a Prize in a Sweepstakes?

What is ARV?

ARV stands for approximate retail value. It’s what the prize is worth if someone were to buy it at retail price. This is important to know because it helps you set the fair market value of the prize(s) in your contest or sweepstakes.

How Do You Determine ARV?

Cost vs Retail Value

Sponsors calculate the ARV based on the average retail value the product or service has in the market at the time of the sweepstakes offer.

Tax Implications

Conclusion

Stay ahead of the game by including your overall prizes ARV in your sweepstakes Official Rules.

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