Now that you know the basics of silent auctions—both virtual and in-person—you’re ready to walk through the steps involved in planning and hosting the event itself. For this event, items are typically set up throughout a physical space with a sheet of paper, called a bid sheet, at each one. When participants find an item they’d like, they simply write their bid amount (in dollars) with their anonymous bidding number that they receive upon registration or check-in. Auctions have long been powerful events for nonprofits to raise awareness for their cause, further engage with their supporters, and raise critical funding. Silent auctions are one type of event within the larger umbrella of a charity auction.
Spending the extra effort to create an attractive and well-organized auction table, you can encourage more bidding and maximize profits at your silent auction. When best items for silent auction is the sale of company assets or an entire company, there are many advantages for the seller because they control the entire auction process. They can create a competitive environment in order to maximize their bargaining power, and, ultimately, achieve a higher price.
Events where the auction is simple and small can safely get by with some good volunteers, a few spreadsheets, and a good organizer running the show. In fact, this is often a good place for organizations to dip their toe into the auction waters and see how it suits them. 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.
Perhaps your group is looking for something lower key, for example, to be held in a side room during your annual dinner. A silent auction can be conducted without disturbing speakers or cocktail hour conversation. And silent auctions reportedly attract greater participation by women, some of whom are known to draw back from the highly charged bidding environment of live auctions.
With so many components, you’ll want things to run as smoothly as possible — that’s where your event volunteers come into play. From running check-in to assisting the auctioneer to cleaning the venue, your event volunteers will look over the small (but crucial!) details of your event. While in-person auctions can be appealing because of their social and lively nature, they can become costly and take some planning. Include options like a wine party, golf outing, or chef tasting, which can be sponsored by local businesses or supporters.
If you’ve run an event before, look at your old silent auction bid sheets to better understand what sold well. If something received a lot of bids and/or sold for higher than its value, see if you can offer the same or a similar item again. As you can see, this process makes auctions simple and easy to navigate for your participants. But it can also make your life easier as the host organization! It allows you to throw silent auctions completely online, sparing you rental and labor costs and allowing participation across the country. Plus, once your guests submit bids through the online platform, the software will automatically calculate who’s in the lead to save you the headache of tallying bids.
The bidders get the slots according to the ranking of their bids. The second-price ruling is derived from the Vickrey auction and means the final deal sealing for the number one bidder is based on the second bidder’s price. Sporting event tickets are excellent auction items, especially VIP tickets that aren’t easily accessible or are sold out. Unlike a live virtual auction, where attendees participate and bid in real-time, a virtual silent auction typically takes place over a longer time span, such as a week. Another way is to google something like “silent auction yourcity”. You, your committee, and volunteers would have put in a huge amount of work and effort come the end of your silent auction fundraiser…
For guests without a mobile device, you can set up a number of tablets or laptops (or virtually anything that can show a web page) to serve as secure “Bidding Stations” during your event. Your planning committee can break into smaller groups to focus on these specific tasks. For example, you can have a marketing team, an event logistics team, and so on. However, they should all work in tandem to achieve your overall goal for the auction.
When donors are appreciated, thanked and acknowledged, they usually are much more open and inclined to do it again in the future. If the donor has an official letter of documentation, ask the donor about including it with the donated item. Autographs on athletic memorabilia are forged all of the time, and a serious collector may only purchase items with this guarantee of authenticity. When a donor normally mails a donated item, he or she often sends a brief note along the lines of, “I hope that this will help with your auction.” This works well for authenticity purposes.
When you approach a local tour agency about donating a free ride, consider your options. If the agency refuses your initial request, ask the company if it will donate a complimentary ride on a consignment basis. That means a bidder will have to meet a reserve, with that reserve going to the company to cover its costs before the excess goes to your charity. Whether it’s just for an hour or two after school or just once in a while, childcare is a must for a lot of families, particularly families led by two working parents or a single parent. As much as it’s needed, childcare can be pretty expensive even for parents who don’t use it often. If you’ve ever dreamed about performing the coin toss before a big football game or throwing the ceremonial pitch prior to the start of a baseball game, you’re not alone.