Tips For Running A Silent Auction

The success of a silent auction fundraiser largely depends on the quality and appeal of the auction items. During a silent auction, supporters place bids on the featured items. Whoever makes the highest bid gets to keep the prize, while the nonprofit organization keeps the proceeds. While silent auctions have great fundraising potential, they require a lot of planning and work. Luckily, our ten steps to running a profitable silent auction can help.
They might be using terms like “silent auction” and “bid.”  And they might have it set up to mimic the look of a silent auction. If you, through your evaluation or otherwise, suggests any Feedback, you hereby assign the ownership in all Feedback to Vendeze. The user agrees to not impersonate any person or communicate under a false name or a name the user is not entitled or authorized to use. Vendeze has the right (but not the obligation) to remove, prohibit, edit or discontinue any content on the Site, including content that has been posted by users.
Here are a few strategies you can use to promote your silent auction. Consider reaching out to your organization’s existing network of supporters and volunteers. For instance, this might include providing opportunities for donors to learn more about your organization’s mission and impact. Alternatively, if you have a larger budget, you can choose to host your silent auction at a more upscale venue, like a hotel ballroom or museum. This makes them an ideal fundraising option for organizations of all sizes and budgets. Silent auctions offer a lot of flexibility in terms of when and where they can be held.
Your silent auction will benefit greatly if items are presented in a high quality display that encourages bidders to spend time perusing items. Decide how fundraising silent auction are going to list, what they will be, and where you will get them from. Before embarking on your silent auction journey, you will need a strong idea of what you’re going to be auctioning to your participants. Both types of silent auctions can be run through a fundraising platform, and need to be promoted across social media and other advertising platforms to attract viable participants.
If you are confused about how silent auctions work, or any other potential fundraising efforts, the key is to talk to experts. At Star Benefit Auctions, we have a team of world-class auctioneers ready to partner with your organization, help you figure out exactly how silent auctions work, and how to make them successful. If Star Benefit can help you raise the bid at your next fundraising event, virtual or in-person, contact us today. Silent auction fundraisers are events where guests are invited to browse appealing displays of donated items and bid on them by making an offer on their corresponding paper bid sheet. More recently, silent auctions have adopted mobile bidding, letting supporters submit their bids through their phones. Traditionally, in-person silent auctions display items around a room with enticing descriptions and designated opening bids.
Of course, the organization has received this item either in-kind or at cost value from the donating sponsor. The opening bid price, if there is one posted, is what the organization aspires to receive for that item in order to cover the cost of the item plus some extra towards the fundraising goal. BetterWorld makes this easy by automatically adjusting bid increments — the higher the price of the item goes, the bigger the increment gets. For starting bids, we recommend a range from 30% to 40% of the item’s value. If it’s something your audience will love, a higher starting bid is safe.
If you have items left over, consider a flash online sale to staff or other supporters before slashing opening bids the night of the event. When it comes to finding charity auction items, it’s all about who you know. Hopefully, your team has some connections and can consult their network to find potential donors.
This may come as a shock, but there are many people who support your cause but hate social events. Many organizers set their entry-level ticket price by taking their cost to feed an attendee and adding a markup to it (say 20%). While you may luck into the optimal price level with this method, it will leave money on the table most of the time. An alternative to having multiple targets is to have multiple events. Perhaps the big gala appeals to your high-net worth donors but a low-key “wine down” would appeal more to young professionals. You can also ask for in-kind donations, like wine from a local vineyard or printing services from a print shop.
In addition, silent auctions benefit the guests and the event’s nonprofit organization. They offer an interactive experience for guests and can be tailored to meet your nonprofit organization’s mission and fundraising needs. Gamification techniques have long been a powerful way to boost any fundraiser. Popular methods include fundraising thermometers, leaderboards, prizes, etc. It’s a great idea to implement such a strategy into your silent auction planning. For example, virtual auction software is designed to notify participants when they’ve been outbid and provide a countdown clock to motivate users to make their next move before they lose the item.