How do you set up a silent auction?

How do you set up a silent auction?

19 Steps To Running a Successful Silent Auction

1. Assemble your team. Identify who will help you organize the silent auction.
2. Make a plan.
3. Find a venue.
4. Source high-value items.
5. Pre-promotion and publicity.
6. Create item description sheets.
7. Create bid sheets.
8. Get silent auction software (optional)

How do you make a bid sheet for a silent auction?

How Do You Bid on a Silent Auction Sheet?

1. Get your bidder number.
2. Browse items and identify “must haves”
3. Write name on silent auction bid sheet.
4. Use bid increments to calculate your bidding price.
5. Write the bidding price in the bidding price box.
6. Continue to check back throughout the event to avoid being outbid.

How do I start a silent auction online?

How to run a silent auction online:

1. Set up your silent auction online. Choose the right software for your online silent auction.
2. Promote your virtual silent auction. People need to know that you’re having a virtual silent auction.
3. Run the auction.
4. Keep your bidders informed.

How do you get silent auction items?

Silent Auction Item Collection

1. Start With Friends and Family.
2. Post to Social Media Accounts.
3. Identify Potential Item Donors.
4. Create an Outreach List.
5. Begin Your Outreach.
6. Leverage Your Committee, Staff, and Volunteers.

Are silent auctions profitable?

Silent auctions are terrific ways to generate revenue and are a staple for non-profit organizations. Because they are “silent” though, your marketing savvy comes into play to make the most money from an auction item without a live sales pitch.

How do I set up an auction?

10 Tips to Host a Successful Online Auction

1. Take Stock of Your Items. First, inventory all of the items you were planning to include during your in-person auction.
2. Set Your Starting Bids Properly.
3. Define the Rules.
4. Promote Everything.
5. Use Photos.
6. Use Buy Now and Max Bidding.
7. Host a Multi-Day Auction.
8. Lead Into a Virtual Event.

What should the minimum bid be in a silent auction?

Set a Minimum Bid at 30-50% of the Item’s FMV Now that you have established the fair market value for all of your silent auction items, the starting bid for each item will be calculated from that value.

Can I do my own online auction?

Can I hold my own auction?

Yes, people in the United States can sell (by auction or otherwise) their own property themselves. In other words, without the use of an auctioneer, real estate licensee, appraiser, surveyor, attorney … an owner can “do it himself.”

How many items should I have for a silent auction?

How many items should I assign to each silent auction section? Aim for 35 items per silent section, and try not to exceed 50. With more than 50 items, it becomes cumbersome for your guests to peruse the full contents of a section and remember what interests them.

How much can you raise from a silent auction?

A rule of thumb is that live auction items will produce 65-75% of their retail or fair market value, while silent auctions will result in 50-65% of their fair market value.

Can I create my own online auction?

The Most Common Types of Online Auctions Before you start, you need to define your primary and most essential needs. You can then create a stateful online tool for already implemented auctions, or you can create and handle your online website.

Are Silent auction items taxable?

A: Tax generally applies to the sale of any items sold at auctions, silent auctions, rummage sales, bazaars, carnival booths, community events, and other fundraisers.

Where do I start a bid?

You should set the starting price below fair market value to show your guests the potential for a great deal. Setting the starting bid around 25-30% of the fair market value gives bidders the chance to win the item well below market value.

What is a good starting bid for a silent auction?

The general rule of thumb is to not go above or below 30-50%. It is a balance of not starting the bidding too low and reducing the return on your auction, while also wanting bidders to be invested in the bidding process. With a less popular or less unique item, the lower range of 30% is recommended.

Can I run an auction on Facebook?

Facebook is not made for fundraising auctions. Period. You can’t sell tickets, collect credit card information, accept max bids, require a minimum bid increment and perform loads of other functions that will give bidders and you a great experience.