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WHEN IS THE BEST TIME TO CLOSE DOWN YOUR SILENT AUCTION?

As a profession benefit auctioneer I get asked this question a lot.In fact I would say it was in my top 10.There are a lot of theories out there about the best time and how to make more money closing your silent auction down, but it has a lot to do with your specific event and your time line.

Your fundraiser should run like a Broadway play.Everything scheduled to the minute with everyone knowing the schedule.When it comes to successful events timing is everything.I will cover that more in another video.As far as your silent auction goes, you need to make sure that your clerks have enough time to enter in all of the winning bids before your guests check out, and your guests know how much they have spent during the silent auction. That way they can freely bid in the live and fund a mission portion as well.You can probably guess that I am saying you should shut your silent auction down before the live auction. Watch this quickvideothat explains why.



 
 
Would You Pay $650 for a $50 Bill?
This is a question that may not come up that often unless you have attended a fundraising event lately. In fact, if you would have asked the winner of this item 20 minutes prior, she may have responded with a no.

As a professional benefit auctioneer, I am always pushing the envelope to see if I can help non-profit organizations raise more money than they did the previous year. While preparing for an event I noticed that all of the live auction items were high-ticket items and I wanted an item to set the mood and let people see that it isn't what you get, but how much you can give. I also wanted something that would generate some buzz; and that is how the $50 bill came about for me.

Before I introduced my first item, I pulled a $50 bill from my pocket and introduced it as my first item. There was some doubt I am sure, but I stayed the course and told my story. I started at $25 and went up from there and up we went. When the bidding frenzy slowed down it was between two people at the same table. These are two ladies that understood the mission and understood that it isn't about what you get, but how much you can give. They both now have great stories to tell. One gets to tell people that she paid $650 for a $50 bill to help people get a fresh start and the other lady gets to say that she was able to get her friend to pay $650 for a $50 bill.

You can watch the video and see how it all unfolded.

 


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