Silent auction Definition & Meaning

Considering the social distancing recommendations that still persist, why don’t you replace the usual vacation package with some staycation supplies? With people having little choice but to stay home these days, auction attendees will appreciate a thoughtful collection of supplies they can use to enjoy their time at home. For example, you should set a limit on the number of people who will attend the catered event. You should also designate the length of the event and the types of food that the winner will be able to choose from. Be sure you ask the company to donate a catered event during its slow season, too.
You want to ensure things go as smoothly as possible so that your donors do not hesitate to attend your nonprofit’s next silent auction event. When you close your silent auction, label each physical item that needs to be picked up with the name and bid number of the winning donor. Put all the items in numerical order by BID number, not by lot or item number. If you have chosen to have your donor’s credit cards on file, they can just pick up their item and go. If you decide to take payment at checkout you should have at least one person working per twenty couples. At an event with 200 guests in attendance we can assume 100 couples.
You can also consider credits to larger national hotel chains for winners to book their stay at their location of choice. Whether live or online, your silent auctions need a set timeline. Consider the promotional period that must come before the event, then how long the event itself will last. Live silent auctions are typically only a few hours long, while online versions can last hours, days, even weeks.
Although silent auctions require thorough planning, they are well worth the extra effort! A successful silent auction will engage your donors and help them feel more connected to your organisation. Plus, they have excellent revenue potential, making this a great event for your organisation and its attendees. With items and services donated and volunteers signed up, you can begin structuring the booster club fundraising actual event. Find a venue that will be able to hold all of the people you expect to attend your silent auction. Typical venues can be the school gymnasium, local community center or cultural center.
Using fundraiser silent auction and apps can really simplify the process of hosting a silent auction. Promoting your fundraiser is key to maximizing participation and generating interest in the items available for bidding. By offering items or experiences that appeal to a wider audience, you can attract new donors who may not have been aware of your organization before.
Auction organizers may set a minimum bid for some items, and items with a reserve price must meet that minimum price to be sold. Rules for bidding include adhering to the minimum bid increment specified on the bid sheet. Finally, providing opportunities for your donors to connect with each other and your organization can create a sense of community around your event. Additionally, the sense of accomplishment and satisfaction from winning an auction item can lead to increased donor loyalty.
Items on consignment are provided without cost and can be returned if they are unsold. A minimum price, often referred to as the reserve price, is set on each item and this must be achieved for the item to be sold. The minimum price is normally equivalent to the cost of the item (which gets paid to the supplier) plus 10% (which goes to the fundraiser). Any funds raised above the reserve price are also retained be the fundraising organisation.
They can also process payments and provide successful bidders with their item. Select someone with retail sales experience as they will typically be better at setting up displays and driving sales activity. He lives in Canada, where he spends most of his time removing snow. He also has years of experience in helping nonprofit organizations grow their supporter base. There are many categories of high-end items that can be auctioned especially well online. From holiday experiences to designer clothing, custom jewelry, and exclusive restaurant experiences – people enjoy getting something valuable and uncommon while contributing to a good cause.