Know Your Charity Auctions – Live, Online, and Silent
When we think of auctions, we always think of a fast-talking man with a gavel.
But there are many different categories of auctions. So, whether you are an auctioneer or a bidder, it’s always good to know the type of auction that works best for you.
Live auctions
A live auction is typically put together by a nonprofit to raise funds for their organization. This can take place in many forms, but one of the most common is a gala dinner.
Here the nonprofit invites a select group of supporters, which could be as small as 20 to over 3000 guests to a party in support of the organization and mission.
The evening is fun-filled for the guests, including dinner and dancing. Throughout the evening there are also opportunities for these guests to give and support the organization.
These giving moments could include a silent auction, a live auction, raffles, games, and pledges. The charity could also receive revenue through sponsorship sales and ticket sales prior to the event.
Online auctions
The best and easiest way to hold an online auction for your nonprofit is to use one of the many software companies available in the market to host your event.
Some of these companies include:
GreaterGiving
Event.gives
OneCause
GiveSmart
Auction & Event Solutions
By using these systems, you will be able to conveniently enter the items that you are selling online, and then through a seamless platform allow your supporters to bid over the internet to support your cause.
Of course, you’ll want to have great items that you are selling to interest your donors, and you will need a network of individuals to participate.
Silent auctions
A silent auction is a type of auction that can be used for fundraising for nonprofits. Items are procured to be sold either at an in-room event or online. If in the room, these items are displayed, and attendees have a defined time-period to place their bids to try to obtain the items.
The bidding process can be as simple as a pen and paper with each bidder upping the bids by writing their bid on a piece of paper called the bid sheet (as long as that bid is more than the previous bidder’s bid).
The bidders continue to bid and check their status until the time is up and the high bidder at that point wins the item. It is becoming more and more frequent for this process to be automated and guests can use tablets or phones running auction software to do the same process.
There is not a live auctioneer involved, which is why it is called a silent auction. Many fundraisers will have both a silent and a live auction component to them, and the live auction typically can be the largest moneymaker of the evening.
No matter what type of auction you choose, do this …
Whatever auction type you choose, it’s important to partner with an auction company that has experience running large professional fundraisers for charities. Don’t skimp on this step. Who you partner with is typically a
Not only does an auctioneer provide entertainment and experience at the event to maximize your fundraiser event, they also provide the needed expertise that will help guide your charity in understanding and preparing for your fundraiser.