When you’re planning a fundraising event, a great and fun way to raise a lot of money is to hold an auction. You can choose whether or not to run a live auction, a silent auction, or an online auction. Ideally, you should start planning your auction 3-6 months before your fundraiser. This is mainly because it will require you to ask your friends, family, colleagues, and others in your network for auction items, as well as set up displays for the items at the event.
Regardless of the type of auction you have, you should try to get items donated so that all proceeds go to the cause. Companies offer great consignment packages for auctions, so if you don’t sell the item, there’s no risk! Restaurant gift certificates, travel packages, and tickets to exclusive events are some examples of popular auction items.
An online auction has proven to be more successful than a live or silent auction because people are usually too busy socializing during the event and don’t always get a chance to view and bid on the items. Today it’s quick, simple and easy to set up an online auction where people bid on items online. Donors can easily post an image and description of the goods or services they are donating online.
With an online auction, the entire system is automated. You can receive email notifications every time an offer is placed, allowing you to keep track of it continuously. You can start collecting bids before the event, and you can even set a “Buy It Now” price, so goods or services can be purchased before the end of the auction. By choosing to have an auction online, you will also have the ability to easily and conveniently accept payment with a credit card.
Advantages of online auctions:
- More time – Guests can take time to familiarize themselves with the items up for auction by viewing them and their descriptions online prior to the event.
- More Money – With the ability to provide a longer time period for bidding, you can increase the total amount you can get for the item.
- More Items to Donate – You can seamlessly donate items online.
- More convenient: You no longer need to track or chase people to pay as all items can be paid for online with a credit card.
- More sales: Products and services on offer can be promoted via social media and broadcast emails can be sent when new items are up for auction, encouraging people to take a look. You can also charge more for items, since you can offer a higher “Buy It Now” price.
- More Exposure for Donors – More publicity and exposure for those who donate items that are submitted online for auction.
Even if you choose to hold a physical auction at your event, you can still display items online prior to the event. Knowing in advance what is being offered and what items are of interest will motivate the bidder to keep watching and pledging more money to make sure they get the items they want! Whether online, offline, or both, an auction is a fun and easy way to make money that guests always enjoy!