April 8, 2016 Ta-Da! Magical Advice About Your Best Bets For Live Auction Items
Many of our clients ask us what type items are the best live auctions items, the “hot stuff” that sells well. We encourage our clients to seek items that will sell for at or above fair market value.
Trips, experiences and adult beverage items make the top of the list as the best live auction items.
Trips – Many of our attendees/donors are in the market for a unique travel opportunity that they can take with friends and family. By offering trips, you are giving these donors what they want. Many times these items are sold for much more than the fair market value, thus raising more money for your nonprofit.
Experiences – These items can range from a wine tasting for 20; dinner in someone’s home prepared by a signature chief; Best of (City), a package which includes high end gift certificates; or a sunset cruise with wine and cheese. The possibilities are endless. Your group can use their networks to easily create these types of desirable items to maximize the giving opportunity.
Alcohol Related Items –In the past, more people drank wine than beer but today’s trend indicates those consumptions are now about equal. Because these adult beverages are such popular items, offer special bottles of wine or beer that guests can take home and enjoy later. Your bidder pool is the majority of the room! (*Note – be sure to adhere to your state alcohol laws when offering these packages)
Tangible Items – Many of our clients want to include tangible items such as flat screen televisions, BBQ grills, or furniture, among other things. While certain items may be acceptable, keep this phrase in the back of your mind, “If you can buy it at Wal-Mart, it belongs in the silent auction”. That general rule of thumb will serve you well when making live auction item choices.
A word about Jewelry and Art – These type items often have a high fair market value and because of that alone they might meet the criteria established to be included in the live auction. But a word of caution – jewelry and art are very subjective to bidders. While one guest may love that diamond pendant or abstract oil painting, most of the other guests in the room may hate it, thus limiting the extent of bidder interest for that particular item.
You’ll expand your live auction bidder pool and raise more money with hot stuff like trips, experiences and alcohol related items!
Make every minute a revenue generating minute!
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