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The “When” of selling items in the Live Auction is often as important as the “What” you are selling. Here are some guidelines to follow when sequencing your Live Auction items for your catalog:
Start with a tangible item whenever possible (to focus the attention of the audience) and the more “emotional” of an item, the better. Something for kids is always good (a wagon of toys, a big stuffed animal, an assortment of video games and a player). A fresh, hot apple pie is a good alternative or an “instant romance package” (roses, champagne, champagne glasses, dinner for two at a romantic place). Place your “premier” items about 50-60% of the way through your list – never save the best for last! The second high bidder needs to have some good items to bid on after the high bidder of the premier item wins.
Do your “Raise the Paddle” (also called Fund an item or Emotional Appeal) right after you sell the premier item – while your audience is still thinking big numbers.
Ramp your values up to the premier item whenever possible, although it is more important to not place similar items back to back. Avoid back to back dinners or back to back trips, or back to back memorabilia. Mix the categories of items whenever possible, but also avoid jumping from a low value item to a very high value item – it is hard for the audience to transition from a $500 item bid mentality to a $10,000 item bid mentality. That is why it is best to ramp up the value whenever possible.
Merchandise sells best early in the Live Auction, experiences (trips, dinners, golf outings, etc.) sell best later on. Avoid selling tangible items at the end of the auction – that is the “experience zone”.
For more help with your auction, consider attending an Auction Workshop when one comes to your area. The Auctionhelp.com website has a calendar of upcoming Workshops.
Tip #1 The Diamond Bar Raffle
Tip # 3 Proper Sound Will Make you Money! |
Copyright 2005 by Northwest Benefit Auctions, Inc. All Rights Reserved. 800-469-6305
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Tip:
Just because an item has a high dollar value, don't assume that is enough justification to make it a Live auction item. More important is whether the item will generate interest from numerous bidders. Remember, your Live auction is part of your evening's entertainment. If an item has narrow interest, it is neither entertaining the bidders (because only a few bid on it) nor entertaining for the balance of the audience. Ask yourself if the item will have interest broadly across your entire audience. Will at least 10 people bid on it initially? If not, leave it in the Silent auction where only two people will need to bid on it to make it a successful item. | |
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“We did everything you said to do in the Workshop, and increased our revenue from $189,000 last year to over $525,000 this year! The entire school is buzzing!”
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With your tips, we raised over $83,000 in our silent and live auctions, where last year we raised only $42,000. I’m thrilled I took the Workshop, and wanted to thank you for all your ideas and help. Thanks a million!”
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| "Jay encouraged us to think out-side the box and to seriously consider making money not just from the procurements. At least a third of our profit came from cash made from fund-a-need, an awesome raffle, a dessert frenzy and regrets donations." Stella Jaeger - Clothes For Kids, Bellevue WA |
I was extremely pleased once I attended Jay’s Workshop and learned several new ideas on running our charity auction...I thought I had tried every trick in the book as far as our auction was concerned, but Jay had fabulous ideas that will help us generate more revenue for the Ronald McDonald Houses of North Carolina.”
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Our little preschool raised $23K last year. After attending your workshop and implementing your ideas, we nearly doubled our take to $45K! Well worth the $250 cost to attend your workshop! Thank you so much!" -
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"We followed through on your suggestion of getting sponsorships for our fundraiser. We quickly put together a five year business plan and a sponsorship package on glossy paper and hit the streets. Imagine our surprise when we recieved $25,000 from the FIRST corporation we asked! And to think we never charged more than $25 for an ad in previous
catalogs! We are still floating!"
Mara Lee Ebert, Sonoma, CA |
“We did everything you said to do in the Workshop, and increased our revenue from $189,000 last year to over $525,000 this year! The entire school is buzzing!”
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