How No-risk Auction Items Take the Bite Out of Procurement

Posted by Summy Lau on Jan 5, 2017 10:13:43 AM

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:

How No-risk Auction Items Take the Bite Out of Procurement - ilauth@winspireme.com - Winspire Mail 2017-01-05 11-07-19.png

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.

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Topics: procurement, no-risk-auction-items, event-production

9 Ways Online Auctions Boost Year-Round Giving

Posted by Summy Lau on Nov 30, 2016 10:02:47 AM

Holiday online auctions boost year-end giving for nonprofitsWith Giving Tuesday behind us, it's time to close 2016 strong. You know the impact of December giving is huge. In fact, CharityNavigator.org reports 31 percent of all annual donations occur this month!

Today we'll look at one simple but commonly overlooked strategy for supercharging year-end revenue: running an online auction.

Note: While this post focuses on using online auctions over the holiday season (when gift shopping and philanthropy collide!), these best practices can be applied to jumpstart giving at any time of year.

 

How do online auctions boost year-end fundraising?

1. Capitalize on holiday shopping trends

'Tis the season for buying gifts, and online shopping is making the biggest gains with consumers.

According to software company Adobe, last week's Black Friday reached historic highs for online purchases, raking in $3.3 billionmore than a 21 percent growth over 2015. What's more, mobile devices alone hauled in a record-breaking $1.2 billion.

As people forego the traffic and crowds, tap into the trend. Give supporters the chance to shop and support your cause with the click of the mouse.

Popular online auction items like spa trips, gift cards, electronic gadgets and luxury vacation stays all make great gifts...or special treats for shoppers themselves!

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Topics: holiday-season, fundraising, no-risk-auction-items, happy-new-year, merry-christmas, online donors

Top 10 Reasons to Use No-Risk Auction Items

Posted by Ian Lauth on Feb 27, 2012 2:00:00 AM
Top Ten Reasons to Use No-Risk Auction Items
  1. Priceless Experiences: Many of our packages are things you can’t ordinarily access or are available only through Winspire. Because these experiences are priceless and difficult to value, bidders will pay whatever it takes to win them… ultimately making your Nonprofit more money.
  2. Only Buy What You Sell: Your Nonprofit organization is only obligated to purchase packages that reach a minimum auction price set by you and your Winspire Team Member, giving you control over how much you make. If you don’t get the minimum bid on a package, you don’t pay anything to Winspire. This guarantees you profit on items sold and makes all our packages 100% Risk Free.
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Topics: best-sold-silent-auction-items, Winspire News, fundraising, no-risk-auction-items, Winspire Packages, nonprofits, 10-reasons-to-use-no-risk, unique-experiences, top-10, donor-relations, travel-experiences, event-production

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Meet Winston & Winnie, the Winspire Twins

Winston & Winnie love to help Nonprofits raise money for amazing causes. They also love to travel and have a bucket list of amazing Experiences they are determined to complete in their lifetime. Winspire News is the result of this shared passion, offering fundraising advice, industry news and insight into charity fundraising with travel.