Your destination for insight into the world of event fundraising and charity auctions.
We have previously discussed the revenue windfall that selling multiples in your live auction can bring. It's no surprise that exclusive, unique live auction packages often generate interest from more than one bidder. If you can successfully capture the second and third-high bidder (or more!) on certain items, you'll quickly raise tens of thousands of dollars more for your cause.
"When Winspire contacted me, I wasn't interested at first. I used to think consignment took the money out of the room. I'm proud to say I've been proven wrong," shared Keith Jones, benefit auctioneer and CEO of Sayre & Jones Auctioneers, in a recent webinar. "A big part of that is the ability to sell multiples."
In last week's post, we discussed a simple yet often overlooked principle of fundraising auctions: analyzing the different spending tiers of bidders at your event. Today we share 4 practical steps to use this information by customizing your live auction with top tier spenders in mind.
On Tuesday, we posted quick and easy ideas for brilliant silent auction baskets, which got a great response from Winspire News subscribers! (In case you missed it, check out "26 Creative, Attractive Silent Auction Basket Ideas".) As nonprofits are diving into fall fundraising season, let's keep the focus on increasing auction revenue by discussing an essential live auction technique: the Double Up. This effective strategy allows you to double, triple or quadruple profit from a single item. Best of all, it doesn't take any extra effort procuring more items. Whether you're new to live auctions, are considering using an auctioneer or would like background to discuss with your auctioneer, mastering the Double Up could pay huge dividends in the night's success. Read on for best practices in using this technique, plus view a short video from professional benefit auctioneer Danny Hooper explaining the process.
With more people packing their bags and looking for adventure, it's no surprise travel is one of the most popular and best selling charity auction items. Most people who attend charity fundraising events have a substantial travel budget, or money they set aside specifically for leisure travel. In fact, we've surveyed more than 1,000 winning bidders and found 83% budget at least $5,000 each year for vacation travel.
Consignment travel packages can be extremely lucrative for your nonprofit, and one of the biggest reasons is the ability to sell incredible trips multiple times, at no risk to you. Doing so benefits your event in three ways: Increase revenue: Double, triple or quadruple your profit on a single package. It's a win, win, win: More happy bidders, but the biggest winner is your nonprofit. Capture secondary bidders: For every successful bidder there are typically one or two people who may have been bidding on the same item, but were unsuccessful. What happens to the money they were prepared to spend moments earlier? Doubling up enables your auctioneer to capture additional revenue from more people. Best of all, it's easier to pull off than you might think! There are virtually unlimited ways to sell multiple no-risk consignment travel packages at any point of your event timeline—before, during and after—that don't take any extra procurement on your part and cost nothing if they don't sell. Is your nonprofit reaching out for this low-hanging fruit? Read on for the strategies our nonprofit clients have used to double, triple, even quadruple their revenue on a single package to raise a lot more for their cause.
You already know the importance of thanking donors and guests after a major fundraiser like a charity auction. But are you taking advantage of consignment auction items to raise even more once the event has ended? One of the biggest benefits to including quality consignment auction items, like Winspire trips, in a fundraiser is the ability to sell them multiple times. This means there's virtually limitless ways to increase revenue before, during and (as we'll discuss today) after your auction.
A successful charity auction relies on your ability to procure exciting and appealing auction items for your donors to bid on. Even with a dedicated and knowledgeable auction committee, this can be a daunting task. One way to simplify your procurement efforts and boost the overall revenue of your event is by presenting your guests with a generous offering of both donated and consignment auction items.
Using consignment travel to supplement your charity auction is beneficial for many reasons - it saves time, adds variety, helps identify new donors - but what about raising money? The fact is, consignment travel packages can be extremely lucrative for your nonprofit, especially if you can sell a trip to several people and make a few hundred dollars from each sale.
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.