Home
| Work & Business
| Investments & Stocks
| Raising Funds
| Auction Fund Raising Ideas
Auction Fund Raising Ideas
by Pamela Keene
-
Overview
If your organization is trying to raise funds, it should consider holding an auction. An auction is an effective fundraising method because the fast pace and buyer competition can inflate the sale price of an item. Your group also does not have to wait for an item to sell or negotiate the price. There are several ideas that can help in planning a successful auction.
-
Live Auctions
A live auction is where members of the audience bid on items offered one at a time by an auctioneer. A live auction can be held by itself or with another event. If the auction is being held as a stand-alone event, it should be advertised well ahead of time. Personal invitations should be sent to notable individuals from the community. Food should be served and opening entertainment is essential to help your guests relax and make the event more enjoyable. The auctioneer should be entertaining, persuasive and well-spoken. A professional auctioneer can help organize the auction and increase profits. Make sure to thank the guests, donors and winners for their contributions.
-
Silent Auctions
In a silent auction, guests browse through the items and write bids on pieces of paper. A silent auction can be incorporated into any event. Keep the bids private by having the guests drop them into a box, or make the bids public by writing them on a single sheet of paper. Set up the silent auction in a prominent location and arrange the items so they are attractive and accessible. Feature high-ticket or unusual items to generate more bids. Include a description of each item, and point out key features, the retail value and any limitations. Someone should be available to answer questions and maintain the display. Periodically remind guests about the auction and let them know much time they have left. Give a last call announcement 10 minutes before the auction ends to encourage last-minute bidders. Be sure to thank the donors, winners and participants.
-
Things to Auction
You can get items for the auction from a variety of places. Ask members of your organization and community to donate items they don't need or purchase new items to donate. Approach businesses for donations. Services such as house cleaning, hair cuts or spa treatments can be auctioned. Try offering unique experiences like private tours or lunch with a local celebrity. Organize small or similar items into gift baskets and present them as a package. Whenever possible, have the items donated instead of purchasing them. If the items are purchased, set the opening bid at the amount paid to recoup the costs. Keep in mind the interests and budgets of the audience members as items are gathered for the auction.
