50-50 raffles have always worked very well in my experience, particuarly in conjunction with another event. I helped with a fundraiser down in DC a while back that was a silent auction mixed with a 50-50 raffle. All the items in the auction were donated items with each donor given a little advertising space. So for example a restaurant would donate a $50 dinner card, which would realistically go for maybe $35-40. The host (you) gets $35, the buyer saves $15 bucks, and the restaurant gets name recognition and a potential future customer. The best item at the auction was a full custom made 3 piece suit from a really well known tailor here in DC, which was valued at 1,000 bucks. I think the guy who won it ended up with an awsome suit for $400 bucks or so.