The silent auction, a variation of a regular auction where bids are scribbled on a piece of paper next to each item, is one of the most popular fundraising activities. Auctions have a set end time, at which point whatever the highest bidder has offered is theirs to keep. An added benefit of these events is that your organisation may use an abundance of untapped resources and possibilities.
Make your next silent auction a resounding success by following these auction tips.
Put the Right Team Together.
There’s a lot of work to plan and host a charity auction. You’ll need the right people to pull this off, so assemble a team to do it well! It’s possible to include members of the staff, the event committee, the board of directors, and volunteers as members of the team.
Once you have finalised the team, assign each member particular duties and responsibilities so they know exactly what they’re doing, how to accomplish it, and when they need to do it.
Set Goals for Your Fundraising Auction.
A successful event can’t be judged until you’ve identified the factors to measure its performance. An auction for a good cause should have specific objectives, such as how many objects you plan to sell, who your target audience will be, and how much money you hope to generate via the event.
The best auction tip for determining how many items to buy is to have one to two things for each estimated visitor at the event. Even with a large staff, this may not be possible if you expect many people to attend the event. Instead of wasting time on guesswork, understanding your goal will allow you to use your time better. That might imply that you spend more time pursuing big-ticket products rather than searching for many smaller items to achieve a quota.
Get Creative.
Think about your audience and what they could be interested in, and then look for a range of various goods that fit their interests. It is essential to provide a wide range of price points and categories so that you don’t exclude supporters who may not have a lot of money to spend on products that are too expensive for them to purchase.
To increase your chances of success, you should think outside the box for auction products and look for items that your guests wouldn’t often buy for themselves or have access to outside of the auction.
Create a Procurement Letter and Donation Form.
With an auction, it’s just as vital to make an argument for your cause as you would in a regular fundraising letter.
Introduce yourself, your event, your objective, and the benefits you want to achieve in a letter to potential sponsors. Then, ask the receiver to donate one item to the auction in favour of your cause after introducing yourself and explaining your role. Send a thank you letter with a mention that their gift is tax-deductible.
In terms of fundraising, the silent auction is a popular and lucrative option that offers excellent value for your organisation’s time and effort. If you’re hosting an event, it’s only common sense to take advantage of every perk it can provide with the best auction tips.
