A charity auction, a silent auction or any other type of gala should always be executed in a very specific way for the best possible results. These types of events are designed to raise money, either for some type of local charity or for the organization hosting the event itself. In order to raise the maximum amount of funding from these types of events, you’re going to have to keep a few key things in mind. These are a few silent auction tips that will help make sure that your event goes off without a hitch.
Set realistic closing times. The first thing that you need to remember when organizing a silent auction is to set realistic closing times and stick with them. Keep in mind that silent auctions in particular usually happen in conjunction with another type of event.
For example: All of your patrons may be having dinner while the silent auction is running. You want people to be able to enjoy both their dinner and mingle with one another – and participate in the silent auction process.
Your job is to make sure that people have enough time to comfortably move from one part of the event to the next. Set silent auction or charity auction closing times well after other events have ended while the night is beginning to wind down.
Break it up into sections. Another silent auction tip related to closing times has to do with closing the silent auction in individual sections, rather than closing all instances of the auction at once. There isn’t really a point to closing the entire silent auction at one time, as doing so only cuts off any last minute bidders who may wish to spend on something that you have to offer. Instead, start by closing less valuable items first. Slowly move through all of the items that you have available, working your way to the most expensive. (This method also makes strategic sense: if some of your attendees know they want to buy something but have yet to commit, that gradual time crunch will encourage them to buy more pricey, high-demand items.)
Be prepared and have the proper materials on hand. When you’re throwing a charity auction or silent auction, the importance of being well prepared and having the proper materials cannot be overstated enough. You’ll stay sane and organized, and your attendees will trust your judgment and feel more comfortable with the auction process.
One of the most important elements that each auction item needs is a bid sheet, which is where people will write down how much they’re bidding.
You should also be sure to print more sheets per item than you think you might need, just in case an item because unexpectedly popular and begins to receive a lot of bids.
Make sure that each bidding sheet has a writing utensil nearby at all times. You can even assign someone the job of making sure that any missing pens or pencils are replaced as quickly as possible.
Choose your bidding increments. Finally, you’re going to want to think long and hard about the bidding increments that you choose to set for each particular item. When someone bids $5 on an item, for example, the next person shouldn’t be able to bid $6 and win the auction. You’ll set bidding increments based on the overall value of the item. If an item is worth $1000, for example, bidding increments might be as high as $100. However, the increments would naturally be lower for items that weren’t worth as much money. Setting bidding increments properly can be a key to the success of the item in question.
At the end of the day, remember that the people who attend your charity auction or gala are there for a good cause – and their presence shows their support. Plan ahead and follow these tips, and you’ll be on your way to the auction hall of fame!
