The live auction is one of the most important aspects of a charity event.
There’s more to a live auction than just slapping together random items and waiting for the bids to flow in. There is so much you can actively do to get top dollar out of your donors. Here are just some of the ideas you can implement to get the most out of your live auction.
How to Run a Live Auction:
◾ Hire an auctioneer
If there’s one thing you must do, it’s hiring a professional auctioneer for the live auction. The auctioneer knows how to feel things out and work the room. While using an MC or board member saves money short term, you could be missing out on the great potential an auctioneer is trained to get out of your guests. The money paid to an auctioneer should easily be made back and then some. Electronic bidding may also seem tempting, but often all it does is confuse guests and take away the fun back and forth of bidding aloud.
◾ Ensure that the venue has a good sound system.
People can’t bid on items if they can’t hear the auctioneer. Test the equipment to ensure that sound quality is clear throughout the entire room. Nothing kills the mood of a live auction quicker than muddled sound. People will start to talk over the auctioneer, lose interest, and, therefore, not be bidding.
◾ Be sure to have bid spotters around the room.
Many auctioneers travel with their own professional spotters. Like auctioneers, they can make a world of difference. They are pros at ramping up excitement and competition among bidders. If the auctioneer doesn’t offer that option, provide your own. You don’t want to miss out on bids because people were overlooked.
◾ Save smaller ticket items for the silent auction.
Items like certificates to restaurants and gift baskets are fun items to raise money, but they do not belong in a live auction. Having lower value items mixed in can set the standard low and devalue higher end items.
◾ Begin the live auction with something attention grabbing!
Think about incorporating exciting entertainment to get guests pumped! Speed Painter Tim Decker can pick up the tempo of your charity event with his fast paced performance art. Not only that, auctioning the pieces created in mere minutes will bring in additional funds for your organization. After his performance every eye will be on the stage ready for the auction to begin!
◾ Have live auction items that cover a large range of interests.
The live auction items should include everything from trips to sporting event tickets to one of a kind experiences. Focusing on just one area will only alienate people with other interests.
◾ Include a clear description of live auction items in the program.
This will allow guests to preview the items and plan out their bidding. This will eliminate questions and confusion during the live auction allowing for a much smoother process.
◾ Decide on smart starting bids.
Start the bidding too low, you run the risk of guests thinking the item has no value. Start the bidding too high, you may intimidate bidders. Know your crowd and allow the auctioneer to feel things out and do his or her job.
◾ Have the actual items ready to showcase during the auction.
People like to see what they are bidding on. In the cases of trips and experiences, having some sort of relevant visual can help increase interest.
◾ Place your biggest supporters in the front of the room.
Show big donors your appreciation by giving them prime seating. This will also ensure they are front and center during the live auction. They’ll have a good view of the auction items, be able to hear the auctioneer clearly, and they’ll be easy to spot when they place bids.
Making the most of your charity event's live auction means knowing how to get top dollar from your largest donors, starting with seating arrangements.◾ Don’t drag out the auction.
Keep things fast paced. If the live auction runs too long, people will get bored and end up leaving early. The last thing you need is to end up auctioning off the remaining items to an empty room.
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Utilizing live auctions is an amazing way to raise funds at your charity event if you do it right. Follow these tips and the auction won’t just be a way to squeeze money out of donors, it will also be an event to remember.
