Tips and Tricks for Hosting a Successful Silent Auction

Tips-and-Tricks-for-hosting-a-Successful-Silent-AuctionFrom organization to desirable goods, every part of a silent auction is essential to its success. Whether you are raising money for your local school, church or favorite charity, this is one of the most popular ways to do it. Most goods are donated by local individuals and businesses, and participants go home with a basket of great stuff while you pocket the money for your organization of choice. Some silent auctions are more successful than others, and we want to help you make sure yours is one of the best.

Make Noise About the Auction

Sometimes the term “silent auction” makes it seem as if it is a quiet affair, but in reality it should be exactly the opposite. Don’t be silent about what you are offering and what you are raising money for. With advertising and entertainment, you should shout about your auction from the rooftops. Invite the whole community and entertain the crowd. The only part of the auction that should be silent is the bidding part. The rest should be fun!

How to Choose the Starting Bid

Think in terms of 10 and 40 when it comes to starting bids and bidding increments. The beginning bid should be set at 40 percent of the retail value of the item. Bid increments should be pre-printed on the bidding sheets and should increase by 10 percent each time. Keep the math simple with bidding numbers that are easy to see and understand. Always round up if you need to.

Set the Amount of Items

A general rule of thumb is to have no more than one or two items per person at the event. You want your items to be coveted and you want bidders to engage in an entertaining war to get them. Rather than putting out single items if you have too many, put them together in bundles or packages. Create a date night basket, a movie night basket or a sports themed basket. Too many items can make the area appear cluttered and unorganized and make them look less appealing to bidders.

Close Down in Sections

If you are holding a large auction, the last thing you want is every attendee running to the table when you close down the bidding. This results in chaos and confusion and leaves everyone feeling a little frustrated. Try closing your silent auction down in sections. Separate the sections obviously by number or color, and stagger the closing times. Announce that each section is closing 15 and then five minutes before it actually does.

Online Silent Auctions

It’s easier than ever to raise money for a cause online in today’s world. If you opt for an online auction, publicize the URL for the auction through social media, create a list of items so attendees know what they can bid on, let them place bids before the event and create a system that allows them to bid from their cell phones.

The more convenient fundraising is, the more money you will make. At Elefundo, we strive to make the process simple and easy so you get more money for less work. Contact us at 562-353-8636 to learn more about how we can help you create a successful silent auction.

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