Well, that doesn’t even compare to what a hassle paper silent auctions are for the organization actually hosting the event. In order to set up the paper bid sheets, organizations have to generate them, populate them, print them out, and place them for dozens or hundreds of items. Due to COVID-19 and the subsequent move to entirely virtual fundraising practices, the rise of virtual silent auctions has been significant. However, even outside the scope of the pandemic, online auctions can provide unique benefits to organizations and their supporters that traditional in-person events cannot.
Unsure if an online silent auction is the right option for your organization? Take a look at our article on the benefits of running a silent auction online. A mobile bidding software like ours can make your life easier by saving you time. You can also check out our comparison of different online auction platforms to see which might work best for you. When silent auctions first began, guests would write down their bids on a piece of paper in front of their chosen item.
In order to set a reasonable starting bid for your auction items, you must first determine its FMV and decide on your minimum bid as a percentage of that. If the starting bid is too high, you might not attract enough bidders. On the other hand, if it’s too low, you may leave money on the table. Think about what donations for silent auction would be willing to pay for the item in a typical setting and go from there. At the end of your silent auction, all item winners (the highest bidders at the end of the auction) will be notified via text message or email. This will significantly speed up your checkout process, as you will only need to confirm the bidders’ payments (in the host console) and deliver their items.
They can help keep attendees occupied before the main activities start and foster anticipation and excitement about the event. However, silent auctions can also be held as a standalone fundraiser event. Standalone silent auctions work best as a virtual campaign or with a smaller in-person guest list.
A silent auction definition would be incomplete without mentioning that the ‘silent’ part of the term relates to the absence of the often animated and enthusiastic auctioneer. Send thanks as well to those who bought items at the auction (assuming you received their email address through auction registration). Give them an idea of how the organization will put their funds to use–this gives them a tangible sense of making a difference to your cause.
One of the first decisions you have to make is to determine if the type of event you’re hosting is a good fit for a Silent Auction. Explore the dynamic synergy of features and pricing with our in-depth comparison of Auctria pricing. Be sure to provide adequate security measures to prevent theft or damage. This can help you identify areas of strength and weakness and inform future fundraising efforts. Bidding typically takes place over a set period of time, with a predetermined end time and date.
This evening, Racine residents can enjoy shops, which will stay open late, and live music at bars and restaurants. 23 — Riders meet at kemper Center, 6501 Third Ave. in Downtown Kenosha, at 9 a.m. And ride to the Petrifying Springs Park Biergarten, 5555 Seventh St., where there will be concessions for bike riders and other activities from 10 a.m. 9-10 — Artists will create art highlighting locations along Lake Michigan.
However, closing the auction too soon might cut off its fundraising potential. These ten steps can help your nonprofit organization plan a silent auction to increase revenue and build community. That’s because mobile bidding is much more convenient for your guests. If they’ve instructed their software to bid for them, they won’t even have to lift a finger and you get more funds.
During silent auctions, attendees want to engage with each other, so outbid notifications on their phones, along with mobile bidding, dramatically increase funds. Attendees can stay aware and participate even when focused on the moment. This helps to create a more competitive bidding environment, leading to higher bids and increased revenue for the organization. Silent auctions can be a great fundraising strategy for your charity or nonprofit organization.
The Silent Bidding theme for WordPress allows multiple or single users without knowing one bid to the other. For their first bid, users are asked to create a username by entering their name, phone number, and email address.4. After creating their username, users can submit their desired bid amount.5. Users will then receive text message confirmation of their bid.