As we kick off 2017, spring fundraising season inches closer and closer. For many event organizers, this can be a stressful time. Check out this recent graphic from USA Today:
Indeed, for the fifth year in a row, "Event Coordinators" made the list of the 10 most stressful jobs of 2016 - a trend not likely to change in 2017.
For fundraising events, a huge part of the problem is procuring quality auction items.
The Scenario: You and your auction planning committee hold a successful wish list party and your procurement team leaves pumped, with a long list of ideas for unique auction items to retrieve. Fast forward a couple months. There's just a few weeks before your event. Your committee meets up one last time...and you realize the list of 'wins' from your wish list is a lot shorter than you thought.
Our latest Winspire News survey confirms this is a common struggle, with 1 in 3 readers ranking item procurement as their biggest fundraising challenge.
Thankfully, there's a better way.
If your auction catalog has gaps or lacks the "wow" factor that garners high bids, reserving consignment items for your auction can be a winning solution.
"Consignment" literally translates to the act of placing an item in the hand of another, but retaining ownership until the goods are sold. In the auction world, this means a company will lend you an item to include in your auction with no upfront cost. Then, if the item is actually sold, you buy the item from that company using a portion of the proceeds, and the remaining difference is your profit.
Why offer no-risk items if you don’t get to keep all of the money?
Read on for a few ways consignment items can make your life a whole lot easier and still generate a lot of money for your cause.