Kickstarters

[Babelfish]

Never backed one. Always been wary of them. Also not quite sure how they work exactly.

Example: The latest Kontraros KS project (the Iron Maiden pieces). The minimum funding goal for the project to get off the ground is a very exact £13,058 (probably a conversion from a more "round" Euro amount). The deadline for reaching this sum is next week (24th May).

As of today, the amount "pledged" is £82,271. So way above the target.

So what happens to the £69,213 balance? Do some pledgers get a "refund" while cash is taken from others? And if so, what criteria are applied to which pledgers end up paying and which ones don't?

Or does the pledgee simply get to trouser the entire amount (whatever that amount ends up being)? In which case, it seems like a very nice little carry-on!

Just to be clear, I'm not "singling out" Kontraros. I have a lot of time for the company, their reputation is beyond reproach, and they do some superb stuff. Just taking this one as an example.

- Steve

 

[arj]

Is this of any help Steve? :-
https://help.kickstarter.com/hc/en-...aised beyond the,even profit from the project.

Cheers,
Andrew

 

[elgreco]

Basically Steve,
the initial amount "quoted" is what the main Kickstarter is all about. Then the pledges come along. So with each level reached, over and above the initial amount, an additional product or freebee is offered. So the more money is raised, the more new items or pledges can be offered to participants. As a pledger, you will get the kits and extras for which you pledge: so if you pledge for the main item, and Level 2 pledge, that's what you would receive. The money raised will pay for all the model masters, sculptors, painters, and castings and packaging and shipping. Little by little, it all builds up for the original creator. In this case, Michael has to cover the licenses from Iron Maiden, which are definitely not cheap. Profits will not be as much as people think them to be. In any case, any extra monies would help to kick off a new project.
Participants are only refunded their pledges if the initial amount (goal) is not reached. Once the goal is reached, the originator is duty bound to fulfil the Kickstarter project.
Hope this helps to clarify matters.
Celine