April 17, 2015 PRESTO! How to Generate More Revenue from Your HOT Silent Auction Items
I recently held an auction at a private Christian school where we did something out of the box which raised additional revenue. There was a student’s section of various class projects in the last silent auction section. Though these items were in the silent auction section, we reserved the right to have a “bid off” on any hot silent auction items that had heavy interest indicated by a lot of bidding activity. PRIOR TO the closing of this section, the client withdrew those items then proceeded with the closing. I then moved to the particular silent auction section where the withdrawn items were located and facilitated the bid off. One item had raised $625 in the silent auction before it was withdrawn; by offering it via competitive bidding we were able to advance the winning bid to $1,150.
Don’t forget to think outside of the box when fundraising.
Just because an item starts out in the silent auction, doesn’t mean it has to stay there. The key is to communicate your intentions to the bidders prior to this action to prevent any misunderstandings.
Make every minute a revenue generating minute!
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