Question: What do you think is the ideal number of items for a typical live auction?
6, 8, 15 or more?
We asked this in our last webinar and got a wide variety of responses:
The correct answer is indeed 8 to 12 items.
Here's why: No matter how entertaining or engaging your auctioneer may be, people will only listen to his or her banter ("25, 25, 5, 25, 30, 35, 40, 45, holding at 45...") for so long. Once the crowd starts tuning out the auction, control of the room can be lost very quickly to table chatter and mingling—and the rest of the night's event revenue is in serious trouble.
Simply put, the amount of money you make in a live auction drops off the more items you have in your auction.
Now, let's say you have too many items. We have nonprofits that go above and beyond the call of auction acquisition duty and end up procuring 20, 25, even 30 items that would be suitable for live auction. What then?
And what if you've procured too few?
Read on for 4 useful solutions to common live auction problems.
Problem 1: Too many items
"Did you say 8 to 12 live auction items? We have 25! What should we do with our extra items?"
Good news: Having more than 12 high-quality items that would be appropriate for a live auction is no problem at all!