Silent Auction Information
A silent auction is type of fundraiser used by charities and organizations. Items are donated by individuals and businesses for people to bid on. People view the items, and then place their names and a monetary amount on a piece of paper next to the items they are interested in. The idea is to motivate people to spend more than they normally would in order to support a good cause.
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Function
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A silent auction allows people to bid on items that have been donated to an organization or charity beforehand. Whoever makes the highest bid wins the item and pays the amount they bid. All of the money collected during the auction goes to the charity or organization advertised.
Collecting Items
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When choosing items for the silent auction, consider the people who will be attending. For example, if an organization is throwing a benefit for breast cancer awareness and is inviting women, the items donated should be targeted toward females. The best way to get items for a silent auction is to approach local businesses and tell them about your group's goal. Not only will the businesses be donating to charity, but the silent auction is also a great public relations opportunity. Let the company know how many people are being invited to the silent auction, and remind them that the same number of people will see their product on the table.
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Increasing Profit
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It is difficult to know how well those attending the auction will respond to the items being auctioned off. It can be disappointing when the organization running the auction realizes there are not many bids. A way to ensure that money will be made at the event is to charge a small fee for admission. Some silent auctions also list a minimum bid price for items. For example, the bidding for a particular item will start at $20, so there is less concern about how much money will be made.
Benefits
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One of the greatest benefits of a silent auction is for those attending. They are getting something in return for the money they are spending. It is easier for some to give money to an organization when they know they are getting a great purse or a vacation out of it. Another benefit is that the silent auction is less trouble to arrange than a normal auction. An auctioneer does not have to be present, and there is less chaos.
Considerations
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When advertising the benefit, make sure to list a couple of the items that will be auctioned. It is best to list the items that are the most luxurious or hard to get. Give people who are attending the silent auction lots of information about the organization or charity the money will go to. People are more willing to spend money when they know where it is going.
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