A non-profit live auction is a fundraising method where bidders gather in a chosen location to bid for the various items available on sale. Unlike silent auctions, live auctions involve announcing the highest bid by an auctioneer. Bidders can bid again until the highest bidder takes the item on sale.
The different items solicited from donors are organized in lot numbers during this auction. Each lot number represents a particular item. These items could include goods, services, gifts, or other items. The attendees of a non-profit live auction often receive a catalog containing all the things on offer (description of the article, condition, appraised value, donor) and their lot numbers. Furthermore, bidders are given a paddle to use during the bidding process.
When the bidding process begins, the auctioneer will pick each lot number systematically and announce it starting with the lowest bid. Interested bidders will then hold up their paddles and bid up the item. After announcing a 1-2-3 countdown, the item will be awarded to the highest bidder.
Like any other non-profit auction, your success will be influenced by many things. These steps should be part of your auction blueprint and include the following:
Before you organize a non-profit live auction, you need to state your non-profit charity goal. Your goal is one of the most critical steps towards success. From the objectives, you should then come up with steps that will make you realize them. If you want to raise $10,000 for your charity organization, have this as one of the objectives.
Know your audience and understand whom your fundraising efforts will target. If most of your event audience is male and over 60 years old, there is most likely no need to offer handmade cookie jars. Most likely, they'd instead bid on bbq and golf equipment and fishing rods. There is also no sense in auctioning toys to people with no kids.
Using various communication channels such as online marketing, press releases, social networking, and numerous others, ensure you create as much publicity as possible. Furthermore, ensure people have as much information as possible, including information on items.
Ensure the actual bidding event is entertaining when organizing a non-profit live auction event. To minimize the cost of managing a live event, find auctioneers who will volunteer to support your cause. They should be lively and passionate about their work.
Items of sentimental value are always a hit. Items such as photos of famous people, handcrafted items, and items used by celebrities will most likely sell well. Involve your whole team in soliciting the right items, bearing in mind the sort of people you will be targeting.
When organizing a non-profit live auction, ensure the cause of the auction is appealing to many people. Many donors and bidders will be willing to participate during the event if they get the conviction of the cause of your auction. The significance of the cause to the bidders can mean much more than the value attached to the item.
To conclude, you should also come up with means of retaining most of the people who finally attend your live auction. Take their contacts and inquire if they would wish to get updates on any similar events.