Silent auctions are among the most effective fundraising ideas that charitable institutions and other groups use to collect funds. However, the outcome of this helping hand activity heavily depends on the way it is organised. So, when planning to conduct a silent auction, make sure to have careful planning and comprehensive preparation. Aside from that, it is also best that you have a solid understanding of the following.
What Is a Silent Auction?
A silent auction is a type of auction conducted by allowing the bidders to submit their offers privately. This helping hand activity does not involve an auctioneer, and the buyers are allowed to make direct bids. Due to this setup, all the bidders don’t know each other. Also, the secrecy practised on the submission of the offers increases the chances of getting the higher price for the items offered.
How to Conduct a Silent Auction
Conducting a silent auction can be overwhelming, so consider the following steps when preparing for one.
Step 1: Set up an auction committee
Setting an auction committee is the first thing you should accomplish when planning to conduct a silent auction. By doing this, you will be able to create a team that will handle the essential aspects of this helping hand activity. This includes managing the tasks like venue setup, securing of items that will be auctioned, ticketing and marketing.
Step 2: Select the best venue
Selecting a good venue is an essential aspect of preparing for a silent auction. Doing this right will most likely boost the event’s chances of getting favourable results. When doing the selection, make sure to take into consideration a few crucial factors like the expected number of attendees, the availability of amenities that will be needed during the auction and more.
Step 3: Secure the items to sell
Secure all the items that you intend to sell at your event earlier. This will allow you to determine the quantity of goods that will be sold. Also, knowing the number of items that will be sold can help you develop a more effective strategy to sell them during the event.
In case there are a lot of items to sell, make sure to group these into packages. This ensures that the number of items that will be sold is not more than the number of bidders. The technique is also helpful in boosting the level of competition among bidders. Thus, your event will most likely earn higher bids.
Step 4: Pricing of items for auction
Have all the items up for auction properly priced. For best results, try to create a bid sheet for every item that will be auctioned. Make sure that the sheet includes the name and a brief description of the item, and the name of its donor. Don’t forget to include a few lines that the bidders could use to write their bids.
Step 5: Set up the registration process
Set up your helping hand event’s registration prior to its actual schedule. To do this, you can allow the attendees to register using some of the silent auction software, such as Silent Auction Pro, ClickBid, Xcira and more. You can also allow them to register a payment card to make the bidding process simpler.
Step 6: Set up the venue
Make sure to proceed to your helping hand event’s chosen venue earlier. The technique will allow you to check on the setup and implement the needed last-minute changes when needed. Also, coming in earlier gives you more time to fix some issues on the venue that might hinder the event’s success.
Step 7: Close the silent auction
Closing your silent auction well will help you establish a good reputation in the industry. Typically, you can spontaneously close the event. Doing so can encourage the bidders to keep on bidding for the items since they will not know when the auction will be closed.
Aside from that, you can also set a pre-planned end time to close your helping hand silent auction. To encourage the bidders to make more last-minute bids, make use of a countdown timer.
Why Conduct a Silent Auction
A silent auction is a must-have helping hand or charitable event for groups that want to raise funds. Many of them consider this as their preferred auction type because of the following.
- A silent auction allows the selling of more items.
- A silent auction can increase the retention rate of a donor.
- A silent auction makes some of the attendees become organisation supporters.
- A silent auction helps in extending the organisation’s donor base.
- A silent auction is proven to boost the event’s revenue.
- A silent auction is a great way to entertain guests.
How to Increase Your Bids?
A silent auction is a good way to raise money. However, the revenue obtained from doing the event depends on the bids that the bidders are offering in exchange for getting the items offered for sale. That’s why you need to learn how to increase the bids during the auction by doing extensive research on how it’s done. You can also consider the following tips.
1. Identify the items that will excite the donor
Given that a silent auction derives its revenues from the proceeds of the items sold to the attendees, you should ensure that these would excite them. To accomplish this, study and know your audience. Look for ways to identify the items that appeal to them. By doing this, they will most likely place higher bids on every item that will be offered during the auction.
2. Make use of mobile bidding
The use of mobile bidding apps available out there is an effective way to increase your silent auction’s bids. These apps allow you to put the bidding on the hand of every donor. In addition, this makes participating in the auction more convenient for you and the donors.
3. Seek help from experts
Seeking help from experts has always been the most effective way to increase your auction’s bids and make the event successful. Many fundraisers consider this technique their most preferred option. This is because hiring reputable service providers, such as Helping Hand, allows you to sit back and relax. Once hired, they will handle all the procedures needed to make your silent auction a success.
Helping Hand Auction Services
For years, Helping Hand has helped hundreds of clients get the best out of their fund-raising activities. Our years of experience in handling this kind of event make us highly successful every time.
We provide our services at no cost to our clients! We offer auction items on a consignment-type basis, and we cover the costs through the sale of the auction items that we provide. We set up the items at your event, manage the auctions, as well as the payments, removal and shipping. That’s how we help. For more details, contact us today.