It’s important to know how to raise more money at a live auction fundraiser because an organization’s live auction usually brings in between 60 – 70% of the profit for a fundraising event. Your agency should capitalize on this portion of the evening to raise maximum dollars. Below are some helpful tips from Murad Auctions about audience development and how to select the right auctioneer, which are two keys to a successful event!
Live Auction Fundraiser Tips
Attract Potential Bidders’ Attention Before The Event
Give all of your attendees a description of the live auction items prior to your event, so they can take the time to decide which items interest them. See more details in the Tips Section of this newsletter.
Know Where Potential High Bidders Are Seated
The auction chairperson and the auctioneer should know who potential high bidders are and where they are seated in the room (preferably near the front).
Discuss The Importance of Your Organization
After everyone is seated, start with a brief emotional appeal or story relating to the agency’s mission.
Have Live Auction During Dinner
The best time for the live auction is during dinner when everyone is relaxed. Consider the auction the entertainment during dinner.
Use Auction Professionals
Use professional bid spotters to work the crowd and help the auctioneer bring in the bids. Although you will pay a fee for this service, these professionals can help make more money for your organization.
It is important that your auctioneer is licensed and is a member of the National Auctioneers Association and not an amateur!
Double Up Auction Items
A great way to increase your profit in a live auction is to have items available which you can “double up” on. This technique creates great excitement and doubles your item income! “We recently sold a dinner with the principal of a local private high school for $8,000. We had four bidders vying for the dinner. We got pre-approval to sell the dinner as many times as we could, so instead of making $8,000 or even $16,000, the dinner sold four times and brought in $32,000. The auction chair was dancing in the aisle!”
Murad Auctions offers professional auctioneer services to non-profits for successful benefit auction events. Since 2000, Murad Auctions has helped hundreds of non-profits achieve their fund raising goals. Murad Auctions relies on expertise, crowd-pleasing enthusiasm and technology to take benefit auctions to the next level. If your organization needs advice on your auction event, please contact Murad Auctions at 972-238-0249 x 102. We will be happy to help.