How to host a charity auction online

How to Hold a Successful Online Auction: A Complete Guide

Virtual auctions have become increasingly popular, and understanding the key steps can help you run a seamless and successful event. Here’s everything you need to know about organizing an online auction:

1. Choose the Right Vendor

Start by selecting an online auction platform that suits your needs. Options are endless, and BiddingOwl might be the best provider for you. BiddingOwl provides an easy-to-use interface for item displays, bidder registration, and payment processing. 

2. Solicit Auction Items in Advance

For a successful auction, you’ll need to source various items. Solicit donations from local merchants, volunteers, board members, or other community connections. Be creative—items like vacation packages, gift certificates, or experiences do well. Aim to gather these items at least three to six months before your event for ample preparation time.

3. Set Realistic Fundraising Goals

Determine how many items you can manage and set a fundraising target accordingly. If you receive smaller items, consider bundling them into themed baskets to maximize value. Your goal should reflect the number of items and the expected audience size.

4. Capture High-Quality Photos and Write Descriptions

Good visuals are key to attracting bidders. Provide multiple photos of each item from various angles, including detailed, enticing descriptions. Ensure to include essential details like measurements, expiration dates, or specific event details.

5. Establish Fair Market Values and Starting Bids

Knowing the value of your items is essential for setting starting bids. Start bids should be around 25-50% of the item’s market value. For gift certificates or high-demand items, consider starting at 75% of the value and offering a "Buy Now" option at 150%.

6. Promote the Auction

Promotion is crucial to attracting bidders. Use email, social media, and newsletters to spread the word about your event. Encourage your supporters to share the auction details within their networks for added reach.

7. Monitor and Engage During the Auction

Most bids will come in the first 48 hours. Engage your audience throughout the event by sharing updates, encouraging bidding, and utilizing features like outbid notifications. This will help keep the excitement up until the auction closes.

8. Plan for Item Delivery or Shipping

After the auction ends, ensure timely delivery or shipping of items. Consider using volunteers for local deliveries or instruct bidders to cover shipping costs for larger items.

9. Follow Up with a Thank-You

Finally, show appreciation to your donors and bidders. Sending a thank-you email and highlighting how their contribution impacts your cause can go a long way in building lasting relationships.

Key Tools for a Virtual Auction:

• Mobile Bidding Tools allow participants to bid directly from their smartphones, simplifying the process.
• Live Streaming: Engage your audience with live content to drive bids and donations.
• Marketing Tools: Use Canva, Buffer, and Wistia to design promotional graphics, schedule social media posts, and track engagement.
• Matching Gift Software: Encourage corporate matching gifts to boost donations without asking supporters to give more.

FAQ: Virtual Auction Basics

• What is a virtual auction? It’s an online event where participants bid on items from the comfort of their homes, often paired with live streaming or other virtual components.
• Do donors like virtual auctions? Yes, they are convenient and offer a broader reach than traditional in-person events.

Following these steps and utilizing the right tools can make your online auction a successful and impactful fundraising event.