Silent auctions are regarded as some of the top ways of making money. It’s an awesome way to engage with prospective donors and well-wishers. During this silent auctions, items are openly displayed for potential bidders who sign a sheet containing their bidder number, name and bidding amount. Here are some reasons why silent auctions are a profitable strategy for fundraising. Briefly explained are a few benefits of holding a silent auction.
Are a valuable gift
Several people are attracted to support charities based upon prior personal life experiences. A silent auction is a perfect opportunity for them to offer support for your organization while getting something back in return. Some people are very passionate about giving out money for a good cause which will draw attention to the auction.
Can be added to larger events
Silent auctions can be added onto much bigger events, particularly those vents which are held indoors. There must be a table wherein the items on display are laid out for visitors can browse through the various selections.
Perfect occasion for first timers
When an organization is holding out a fundraiser or related event, this is the perfect opportunity to hold out a silent auction. Unlike the live auctions, here you should hire an auctioneer. Silent auctions are highly regarded as they can be scaled. As little as a dozen top notch items can be displayed which your fundraising results. A successful silent auction can be effectively planned by two to three people. A lot of preparation depends on the size of the auction and the number of items in question.
Raises some funds that will be raised
A good amount of the revenue that streams in from special events comes from raffles, silent auctions or other fundraising options which do not involve revenues from ticket sales. Some of the attendees might not have planned to make a bid but decide to after they unravel an item that finds attractive. There are those who like to “win” auction events and look up to such occasions. The way to know that your auction event was a success is if the participants look forward to attending it every year.
There are those who only participate in low key silent events where there are no distractions from blasting loudspeakers or cocktail chatter. Most of this silent auctions attract a large women participation many of whom are taken aback by the highly charged environment accustomed to living auction bidders. Some items require the participant to spend time looking at it up close; such an opportunity can only be possible in silent auctions.
Today a good number of non-profit organizations prefer raising money through silent auction events as they have been proven to be a major revenue magnet. To guarantee the success of your silent auction, you must have assembled a formidable auction committee and come up with amazing silent auction bid sheets like the one available. Ensure that you provide the committee members and anyone else helping you out to make it a success with adequate support and resources to solicit the best items.