'One way to increase your fundraising auction revenue is by selling big-ticket items such as, luxury package holidays, multiple times. If done correctly, it can be a masterstroke, helping you to maximise ROI. Below are some tried and tested methods for successfully auctioning off packages - multiple times - during a fundraising event.
Use a professional auctioneer The support of a professional auctioneer, when using multiple items, in a live auction is particularly effective. Once the reserve price has been reached, it is the auctioneers duty to encourage excitement and active bidding. When you have two or three bidders left in a bidding war for example, offering the prize at a slightly reduced price, will allow you to double or even triple revenue from the single item. The top bidders will be excited to win the package and you will raise more for your cause. It's a win-win.
Go consignment Procuring donation items from donors can be difficult especially when you need multiples. This is where a consignment service can come in handy. Working with a respectable organisation that offers clients the option to sell auction items more than once is an easy and profitable alternative. Consider GalaBid for example, with our list of exceptional consignment items ranging from luxury holiday to adventure and lifestyle packages, unique jewellery, fine artwork and sport and music memorabilia.
Keep your staff and volunteers informed Your staff and volunteers are the face of your organisation. Keeping them informed will allow them to promote this effective auction strategy on the night as well as answer any questions.
Promote on your event website Provide clear communication to guests from the start. GalaBid's customisable event website and auction catalogue feature allows you to easily add auction details to the item page. Simply adding the following text to you item description, will minimise any misunderstandings throughout the auction process. "To be one of the 2 highest bidders enter the minimum bid amount shown above. However, note that only the name of the highest bidder will be displayed so to see your name on the auction list and the big screen bid more than the highest bid amount shown above."
Keep multiple vouchers It's important to remember when selling multiple items at your fundraising event, that you will need to pack multiple vouchers. Not doing so, will seem unprofessional, possibly causing confusion on the night.