15/11/17

A Newbies' Guide To Consignment Auction Prizes

Co-ordinating the right prize mix for your fundraising auction is hard work. Your prizes need to be attractive, affordable and offer a variety of experiences and price points. Sourcing donated prizes can mean many hours of door-knocking (and dealing with a few rejections!). Consignment auction items offer an easy, no-risk option when it comes to delivering a knockout prize mix. But is consignment right for you? Let's find out:

How Does It Work?

Most consignment providers (such as Galabid) provide prize items to charities on a no-risk basis. This means if an item doesn't sell there's no charge to the charity. Consignment providers structure their fees in different ways. Galabid offers a simple and transparent approach: if the item sells, the charity gets every cent over the cost price. Example: Prize Item = Luxury Weekend Break

Cost Price = $1,500.00Auction Sale Price = $2,500.00

Charity Revenue = $1,000.00Tip: GalaBid also offers an additional 5% of sale price to provide a buffer should items sell close to the sale price.

Choosing Items

There are two key benefits to using consignment auction items:

  • Saves time: reduces need for cold-calling and door-knocking
  • Gives access to great items: hard to source items such as luxury holidays and exclusive experiences are readily available through consignment.

Your consignment provider will be able to help you work out the right items. GalaBid has over 20 years' experience in fundraising auctions. We know what sells. This means your prize mix will always hit the spot with your guests

Mix It Up

You can include consignment items to suit your fundraising auction. Mix them up with donated prizes, use them as a live auction drawcard or bundle them up to create unique one-off prizes; you can be as creative as you like!

Post-Sell

Once the consignment auction item is sold you don't need to worry about the post-sell process. Reputable consignment providers (including GalaBid) will handle redemption for you. From item delivery to holiday bookings, we'll liaise with winning bidders to ensure they get their items quickly and efficiently.

Takeaway

Consignment auction items can alleviate the hard work from sourcing prize items. Just make sure your consignment provider offers you the best option in terms of revenue and service.

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GalaBid is CrowdComms’ fundraising software, developed inhouse, which facilitates bidding, donations, purchases, payment for and management of all fundraising activities before and during live fundraising events, galas, golf days etc.

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