Auctions are events within events, and they pair well with many of your fundraising staples.
The first decision that you’ll have to make when it comes to your auction has to be about what kind of auction you’re going to have. Silent? Live? A combo?
There’s no wrong answer. The decision will come down to the kind of event your auction is a part of. If the auction is a central attraction to the event, go live or go home. If, on the other hand, the auction is accompanying an awards night, silent is the better route.
With a good auctioneer, live items typically sell for equal to or more than fair market value. At silent auctions, you can anticipate raising half of fair market value for each item sold. However, if you have an item that needs to be carefully inspected to sell, it will do better in the quieter, closer setting of a silent auction.
To collect items for bidding, gather a team of volunteers, staff, and board members to reach out to all of their contacts.
Experiences and one-of-a-kind items go over best. Think trips to exotic locales, golf with professional athletes, and dinners from celebrity chefs.
Items like those perform well during big live auctions at formal events. If your auction is smaller in scale, you have the opportunity to play to your audience. For example, an auction for a youth sports club might include four private lessons with a local coach or unlimited babysitting for a month.
Once you have your list, promote some of the items in advance of the auction as a teaser. Anticipation is an auction’s best friend.
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