College Student Trying To Sell His Future On eBay
A student puts a percentage of his future income up for sale on eBay, hoping investors will cover his education costs.
FSB Magazine:
Stocks, bonds or Steen? That’s a question that 19-year-old Ron Steen (photo) of Anaheim Hills,CA., hopes investors will wrestle with.
In August, Steen put himself on eBay to pay for his college education, offering 2% of all future earnings to the highest bidder, with a minimum $100,000 bid. ‘I am the real deal’ and ‘a very intelligent guy,’ he wrote on eBay.
He says that he expects to earn ‘way more’ than $125,000 a year until he turns 65, at which point his investor would break even on a $100,000 investment. (Steen would have to average more than $1.5 million a year to match an investment that yielded a 6% return, compounded annually over the same period.)
Not everyone is convinced. eBay removed Steen’s auction after 5 days for violating the site’s charity policy. Bloggers also pointed out spelling errors in his ad.
For now Steen’s dad is helping pay the tuition at California State University at Fullerton. But the personable Steen says he’s optimistic an investor will come through.
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