Your destination for insight into the world of event fundraising and charity auctions.
Successful charity galas rely on strong auctions. At most auction events there are the usual suspects – gift baskets, hair removal services (..ew), and dinner at a fine restaurant in town. Unique travel experiences, on the other hand, continue to be one of the most-anticipated and best-selling auction items in the industry. However, while offering unique excursions is important to an event’s overall profitability, charities are sometimes hesitant to partner with a consignment travel company. Explore these four common concerns about using consignment travel to better understand how this service can benefit your charity: 1. The trips seem too expensive for our donors. Underestimating your donors’ spending capabilities is one of the quickest ways to dampen your auction results. Big donors are sophisticated buyers who come to your event with a spending budget in mind. We hear this repeatedly from the thousands of winning bidders who redeem Winspire Experiences every year. In fact, we survey each of them when they return from their trip – primarily to gather feedback about their experience - but also to learn more about event fundraising dynamics from their perspective. Our surveys show that 76% of donors attend at least four charity events annually, and 42% of the winning bidders budget at least $10,000 each year for vacation travel. These are savvy auction veterans!
Special events are the most widely used method for cultivating new major donors. Nonprofits host big events as an entry point for potential high net-value donors to come learn about the cause and meet the people behind the scenes (that's you), planting the seed for a relationship that moves them toward major giving. The toughest piece of this donor cultivation process - especially at a big fundraising event - is building that relationship. If you're busy running around and you only have time to introduce yourself to a few people, who do you spend your time socializing with?
Procuring auction travel packages to match your audience's interests and hobbies is a crucial part of creating a successful fundraising event. But what if your audience of donors has a wide range of interests? This can make it a challenge to pick which travel package to include in your live auction.
In a perfect world, auction committees would have no problem getting unique and exciting charity auction items donated for their fundraising events. Anyone who has served on a charity auction committee knows this is rarely the case.
Successful Nonprofit auctions engage attendees and inspire fierce bidding. The amount of money that can potentially be raised is directly correlated to what is up for auction, and baskets and gift cards can only go so far – these types of items will quickly reach their max value and bidding will cease. Plan and design your event to raise more money by keeping bidders interested with fewer high-value, attention-grabbing items.
In your charity auction, setting the minimum starting bid at a low, fair price can help your Nonprofit raise more money per item. Here are some guidelines for setting a minimum bid that will attract and encourage more donors to participate at your next charity auction while earning plenty of profit for your cause.
One of the most advantageous parts of using consignment items in a charity auction is the ability to sell them to more than one bidder. This simple strategy, when utilized correctly, can quickly amplify the amount your organization makes on a single auction item.
The Scenario: You and your auction planning committee hold a successful wish list party and your procurement team leaves pumped and excited, with a long list of ideas for unique auction items to retrieve. Fast-forward a couple months to a few weeks before your event... and you realize no one has had success acquiring any of the items on your wish list. Sound familiar? Then it may be time to consider the possibility of reserving consignment items for your benefit auction.
1. Priceless Experiences Many of our packages are items 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.