Ballot Bidding® Or Electronic Silent Auction: Which Should You Choose?
Running a fundraising event can be a challenge. You need to find ways to generate enough money to support your projects.
One excellent way to raise funds is having auctions in which you sell items at the highest possible price. Some of the most common types of auctions are live and silent auctions.
What Is the Difference Between a Ballot Bidding® and an Electronic Silent Auction?
We, at Helping Hand Group Auction Services, are experts in live and silent auctions. We also take pride in our core, proprietary product, Ballot Bidding®. We design and print Ballot Bidding® forms, which include your event’s items and the auction items that you choose from our auction item list. Ballot Bidding® is a great format to push your guests to their maximum bid and keep them engaged with your event. But how does it differ from our electronic silent auction?
Ballot Bidding® is a classic paper-and-pen silent auction format. Guests are given one chance to place their maximum bid against the items they want. This eliminates back and forth ‘penny bidding’. Instead of checking their silent auction bids, you can keep them tuned in to your speakers.
As Ballot Bidding® encourages guests to think about possible bids from other guests, this ‘blind method’ can help you maximise bids for your charity. It helps you raise as much as possible as guests bid at or as close to as possible to their personal maximum bid. You can also sell multiple items to the top bidders, which means the amount you fundraise increases.
On the other hand, an electronic silent auction uses tablets, smartphones and screens during the event. In this auction format, we provide a link to an online version of the auction, which you can share via email or social media. With a flexible digital format, you will be able to collect bids from contacts all over the world.
An electronic silent auction also allows guests to enjoy a number of silent auction items. You can send messages directly to your guests during the actual event via SMS and remind them about important information regarding the auction.
Although they are two very different approaches, both Ballot Bidding® and electronic silent auction are great options for a charity fundraiser. They can engage guests and raise funds effectively.
What Are the Other Auction Types?
Otherwise called live on-site auction, this auction type is generally conducted in a meeting room, recreational convention, hotel facility or any indoor location. The attendees can look at the items on display live. They place their bids by either calling out the amount they’re willing to pay, raising their bid paddles or simply trying a few ways to catch the auctioneer’s attention. Although most people would agree that it’s a competitive environment, bidders say that it’s highly transparent because all guests are present at the same time and in the exact location.
Online auctions are another auction type where bidders compete to acquire a particular item and submit their bids online. With the pandemic, Internet auctions have become a crucial part of most fundraising events because they allow guests to participate remotely.
During an online auction, the items are uploaded on the Internet, where bidders can see the item on sale. Given that everything is done online, attendees don’t need to go to the site to be a part of it. What makes online auctions ideal for most events is that it follows the schedule as-is. So, you can expect that it’ll get done as scheduled.
Similar to the other auction types, attendees in a silent auction need to assess the items on display before placing their bids carefully. What makes it different is that there are no auctioneers at the event. Even more, attendees don’t need to catch the auctioneer’s attention by placing their bids. Instead, they need to put their bids on a sheet using a bidding number. For electronic silent auctions, bidding software is used to bid.
These days, most nonprofit organisations prefer to use silent auctions because of how engaging they are for the participants. The mystery behind each bid makes the event more enjoyable, causing the guests to bid more.
A silent auction starts with bidders checking the items for auction until they find something interesting that they want to bid on. Next, they’ll use the bidding number assigned to them to make a bid. They need to put it on the bidding software used or on the bid sheet to make their bid anonymous. In most events, organisers will set a minimum increase requirement to determine the first amount. Once the event has been finalised, and the winners for the event have been selected, they can collect their winnings in the check-out room.
Which Raises More Money, Raffle or Silent Auction?
Raffles and auctions are sure-fire ways to help you with fundraising. Yet, many people are still wondering which of these methods would suit their events. Interestingly, both raffles and auctions are almost the same. However, many would attest that an auction is far more exciting than a lottery. That’s because you can get a considerable number involved with an auction as they try to outbid one another.
Are Silent Auctions Worth It?
Yes, a silent auction is entirely worth it. Not only does it provide a more convenient and fun way to raise funds, but it can also get the donors and bidders thrilled about the cause.
The money that organisations will raise can help fund their ideas to benefit society and the local community. It can also help raise awareness about ongoing issues.
However, while silent auctions tend to be more organised than a traditional auction, there are still a few downsides that you may want to consider. For one, the room can get crowded fast, especially around items that people feel most interested in. When that happens, your guests might find themselves stuck in a long line or a crowd.
To help you resolve these issues, doing silent auctions online can be an option. Aside from giving your guests the chance to attend the event in the comfort of their homes, it’ll also help promote social distancing, which is essential during the pandemic.
Helping Hand Group Auction Services: Lending You a Helping Hand
For many non-profit organizations, raising funds by having auctions can be quite a challenge. Fortunately, there are professionals who can give you the best assistance in planning and hosting auctions.
We, at Helping Hand Group Auction Services, can help you plan, set up, run the auction and take down the displays after your fundraising event. We also offer auction items on a consignment-type basis. That means you don’t even have to pay for anything at all. We’ll help you maximise your funds and lend a hand until everything’s complete! For more details about this partnership, contact us today.