Mastering Your Live Auction: Strategies to Surpass Your Fundraising Targets

Live auctions are the showstoppers at fundraising events. Often the grand finale of the event, the live auction showcases high value prizes that guests must-have! 

From exclusive access to major sporting events, to luxurious getaways in Instagram-worthy destinations, live auctions have the power to turn dreams into reality.

However, beyond the allure of these prizes, event organizers have a role to play in maximizing the revenue generated from live auctions.

Here are some effective strategies to help you achieve just that:

1. Roving Bid-Spotters: Ensuring No Bid Goes Unnoticed

At large fundraising events, roving bid-spotters play an invaluable role in ensuring that every eager bidder gets their moment in the spotlight.

With live auctions relying on raised hands or paddles to signal bids, factors like stage lighting, complex room layouts, and multiple tables can make it challenging for the auctioneer to spot enthusiastic bidders.

The presence of strategically positioned bid-spotters around the room provides additional sets of vigilant eyes, ensuring that no one misses out on the opportunity to participate.

2. Thoroughly Brief the Auctioneer: Knowledge is Key

Taking the time to comprehensively brief the auctioneer about the prizes equips them to refine their sales pitch. This means they can zero in on the item's unique selling points and passionately convey why it's a must-have prize.

Thorough briefing also ensures that the auctioneer is well-versed in the finer details of each prize. Potential bidders may have specific queries, such as hotel accommodation standards or flight inclusions, and having the auctioneer answer these questions in real-time can increase the likelihood of bidders remaining engaged in the bidding process.

3. Dynamic Video: Bringing Prizes to Life

Live auction prizes can include intangible items, such as unique experiences. These experiences can be challenging to convey using solely static images.

This is where video comes into play. Whether projected on large screens or displayed on smaller devices, compelling short videos have the power to provide attendees with an enhance sense of the auction item.

In addition to high quality photos, dynamic videos really bring the auction experience to life, engaging and exciting potential bidders.

4. Table Cheerleaders: Fostering Friendly Competition

In every fundraising auction, a friendly sense of competition naturally arises. When two or three tables compete for an item, you can enhance this competitive spirit by assigning a cheerleader to each table.

Alongside the auctioneer, these cheerleaders encourage bidding, ignite competitive sparks, and ensure that everyone is aware of their table's remarkable generosity.

5. Leverage Testimonials: Let Success Stories Speak

Unless a live auction prize is genuinely one-of-a-kind, there's likely someone out there who can attest to its greatness. Conduct a bit of research to uncover previous winners or individuals who have experienced a specific prize package.

These firsthand accounts can provide you with glowing testimonials that help attract bidders. Position these quotes strategically in your pre-event marketing, website, online auction site, event brochure, and even ask your auctioneer to cite them before the auction commences.

In Summary:

Live auctions are the heart of many fundraising events, offering the chance to secure vital funds for your cause.

By implementing these strategies—namely roving bid-spotters, thoroughly briefing the auctioneer, using dynamic videos, assigning table cheerleaders, and leveraging testimonials—you can significantly enhance the success of your live auction, ensuring that it not only dazzles but also delivers an exceptional fundraising result. 

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