500 Capp Street: Benefit Auctions 2023

It’s not uncommon for organizations to host a variation of both during one fundraising event to maximize the amount of money raised. Each socializer should become familiar with one category of auction items and be able to answer questions about the donors and how the items in each lot were produced or sourced. Before sourcing auction items, your procurement team should have some goals for the types of items they’d like to auction, along with a list of potential donors they might ask. It may work best for your organization to have a range of items at different price ranges, ensuring that you have something in there for everyone. One of the fundamental rules of a silent auction is the method of placing bids. Another important rule is that the highest bid at the auction’s close wins the item.
Additionally, people who want to support the organization, but can’t be physically present at the event, can participate. Bidding can also continue throughout the event, without a guest getting up from their dinner to go check the bid sheets. Finally, organizers don’t have to chase down the winners at the end of the event to collect payment.
Returning the item could insult the donor – you’d be better served finding an alternative use for it. Gift the item to a volunteer or use the item at a future event. Items that didn’t sell are generally not returned to the donor, unless specifically requested or you were selling the item on consignment. You should have some extra registration packets available without names on them to give them.
In addition to years of business and management experience, she has more than 20 years of experience writing for a variety of online and print publications, including Metro Magazine. Get the latest fundraising tips, trends, and ideas in your inbox. If you have a minor league baseball or hockey team in your area, see if they’d be willing to donate an outing with one of their local celebrity athletes.
This way, bidders can enjoy themselves on a trip and help a cause achieve their goal. How does Silent Auction work makes them feel more confident in their bid and increases the perceived value of the item. Be sure to clearly communicate the benefits and potential enjoyment that the winning bidder will experience. Taking high quality photos of the auction items makes them more appealing and therefore increases the likelihood of higher bids.
Once you have a clear goal in mind, you’ll need to determine a reasonable budget. Obviously, it should be set at a place where you can make enough of a return on your event to meet (or ideally exceed!) your goal. The items that will most appeal to your donor base will mostly depend on their interests, preferences, and demographics. Lauren is a former market research analyst focusing on the e-commerce and retail industries.