Normally, it's possible to raise 30-35% of additional cash from a live auction contrasted to a silent auction. In order to raise extra cash, a
live auction should be professionally arranged. Therefore, to make sure everything goes smoothly according to the plan, you have to involve only the most trusted individuals.
Obtain Items for Live Auction
For you to make potential profit, almost all of the products should be donated to your organisation. Try to find top-end merchandise at your local area if it is possible. You can search for certificates or coupons for free services, gift certificates from local restaurants and even solicit donations from local businesses. You'll be able to maximise your fund-raising profit with higher quality items. It is essential to avoid over spending on the things such as cars, computers or even holidays.
Advertising about your Live Auction
The more amounts of people you encourage to attend your live auction, the more profit you'll be able to make. The potential donors will be willing to donate to your organization when they are clear about your goal and message.
Holding the Auction
The combination of your auction and some other fundraising event would be good. You can hold the auction after a golf outing or dinner as people are way more receptive and happier during those times. There is a great opportunity to earn handsome profits in live auctions, but there are possibilities when things can go truly wrong with these auctions. If the crowd is reluctant to spend, become bored or starts to slip, then the difference between profits and failure can be clearly noticeable.
Don't of Live Auction
Don't spend more on expensive items like electronics, automobiles, computers, and holidays.
Do not forget to advertise your auction.
Don't hesitate to take help from professional event management.
Do not forget about the advertisements on TV, radio and local newspaper.
Don't forget to promote other fundraising efforts.
Do's of Live Auction
Begin and finish on time.
Hire a professional auctioneer.
Solicit donated items.
Maintain a good speed of auction.
Mix the auction with dinner or another event.