Planning an auction? Read this before getting started
Hosting an auction is a great way to raise funds and bring people together for a cause. With auctions, hosts can attract attendees and generate proceedings to fund a cause. Auctions have been a popular medium to raise money by charity groups, communities, individuals and organizations.
In the past, auctions used to be a loud event marked with hustle-bustle and a lot of show and pomp. Today, that has changed as auctions have evolved from an in-person event to online-first, digital events. With the rise of technology, silent auctions have emerged as the new and preferred medium to raise funds. So, what exactly is a silent auction and how does it work? Basically, any auction that proceeds without an auctioneer, in the background of a main event or gala night, can be termed as a silent auction. A silent auction can be operated with bidding sheets or a mobile app where guests can place their bids.
There are many advantages of a silent auction. Firstly, it is a simple, no-fuss fundraising event which is preferred by many guests today. Secondly, a silent auction can run longer than a live, traditional auction, which helps hosts generate more funds as it allows guests more time to place their bids for auction items.
If you are ready to host a silent auction, then this article will help you understand the basics on how to host a successful silent auction. Let’s start with understanding how a silent auction works.
A non-technology silent auction works without the need of any website, online platform or mobile app. In such an auction event, guests and attendees place their bids using bid sheets. A bid sheet has all the auction items mentioned and guests can place their highest bids, which can be collected later by the auction organisers to determine the winner. At the closing of the event, auction items are sold to the highest bidder.
On the other hand, a technology based silent auction is an event where guests and attendees place their bids using a mobile app or online auction platform. With the help of screens, participants with the highest bids are displayed for others to see, which makes the auction process more competitive and interesting for everyone. In a real-world, tech auction, guests are provided with tablets placed at their desks, or asked to bid using their own mobile phone through an e-auction app.
Now that you know how silent auctions work, it’s time to gear up and start planning on hosting a successful fundraising event yourself. Here are some important tips to consider if you are hosting an auction in 2022.
- Start planning early:
Although it takes only a few days to plan and organise a digital, virtual auction, if you want to make yours a successful fundraising event, it helps to start early. Ideally, you should start planning auction details a few months in advance, to get enough time to secure auction items and reach out to sponsors and advertisers. Advance planning will help you map out the specifics of running an auction, and will give you enough time to ensure each and every aspect is satisfactory for you and your guests.
- Choose wisely:
The success of any auction, whether online or offline, hinges on the auction items at display and sale. The key to raising funds is to give your audience something unique and interesting to own, so that they are likely to place high bids for your auction items. Think of it this way – if you want to generate interest and garner attention around your auction, it will help to have high-interest memorabilia and unique items which resonate well with your target audience.
- Invest in technology:
If you are hosting a silent auction in 2022, then it is important to consider the many benefits of choosing technology for planning and organising the event. With technology based digital auctions, the entire process of running a silent auction can be streamlined, which can help hosts focus on getting sponsors and giving guests a top-notch event experience. Tech platforms for hosting auctions are immensely popular these days, and rightly so, as they help hosts manage everything in one place, and stay on top of things for a smoother, streamlined and consistent auction event.
So, are you all set to dive deep into the world of auctions? If the answer is yes, then it’s time to embrace the future of silent auctions with digital-first, online fundraising events. A virtual auction is an excellent way to bring people together, and boost engagement and revenue from your auction event. Going virtual will not only help you save time and efforts, but will also help you save costs in the long run.
If you are ready to take the leap of faith, it’s time to explore online auction platforms like Charity Auctions Today, where you can easily set up an online auction within a few minutes. With Charity Auctions Today, promoting, hosting and running an auction event is a breeze, thanks to their advanced and easy-to-use auction platform.