Simple Auction Advice

Tip #1 - Remember Your Goals

If reaching your financial goal is your number one goal, then stick to it. However, often when the number one goal is revenue, reaching this goal can come at the expense of having fun. One is not mutually exclusive of the other, but when you meet as a group, determine just how important each goal is and you will begin to create the roadmap you are looking to planning your auction.

Tip #2 - Remember Next Year

Many groups that put on auctions put them on with the intent of putting them on annually. If that is the case, make decisions based on providing a wonderful audience experience. If you keep that in mind, you will develop momentum, and each year you will exceed the previous year’s results.

Tip #3 - Remember Your Budget

Everyone who puts on an auction wants to raise as much money as possible. However, auctions cost money. There are marketing considerations, products, your auctioneer, room, food, drinks, and much more. The greater the audience experience, the greater your chances of raising money and establishing a budget helps you realistically prepare just what you can and cannot do.

Tip #4 - Remember Your Room's Set-Up

The closer the auctioneer can get to the audience, the more active the bidding and interaction. Creating a ramp off the stage into the audience, or even creating a “theatre in the round” style can accomplish this. There are other create set-ups that can be recommended.

Tip #5 - Remember Your Lighting

Bringing the lights up and making sure everyone can see goes a long way to improving the audience experience. This is especially critical for smaller items, and art work to mention a few. Low lighting is just fine to create a mood before or after, but during the actual auction, bring them up!

Tip #6 - Remember Your Sound System

Probably the most misunderstood element of an auction, if the audience can’t hear, they can’t bid. Remember, this is not a seminar where the audience remains silent. It is socially acceptable, (although I work hard to earn the audience’s full attention), for audiences to talk during the auction. That means the sound system must be extra powerful to accommodate.

Tip #7 - Remember Your Timing

One of the biggest mistakes that are frequently made in auctions is the temptation to put too many items up for bid. The optimum number of items is between ten to twelve. More items that that begins to numb the audience, and create a timing issue. The idea is to often mix a silent auction with a meal of some sorts, and culminates in a live auction. Sixty to ninety minutes is about what you should expect. If you start the program too late, or have too many items, you will lose your audience.

Tip #8 - Remember to Bundle Your Items

A trip to New York to see a show is nice, but two train tickets, with a night’s stay in a hotel, and dinner is even nicer. Bundling allows you to make the item more interesting, easier to sell, and more valuable.

Tip #9 - Remember to Consider Multiples

With a reduced number of items to actually auction comes a concern regarding the impact on profitability. One simple way around this is to sell more than one of the items you are auctioning. For instance, often companies that offer trips will offer as many as you would like. Another example is auctioning an experience of some sort with a VIP of the organization. Why not sell five?

Tip #10 - Remember Your Volunteers

There is no event I know of that requires more volunteers than an auction. There is so much that needs to be done. There is marketing, collection of items, catalogue production, decorating, food, drink, accounting, live auction spotters, set-up, cleanup, and more. It is a huge undertaking, and yet, it may very well be your most lucrative and rewarding undertaking.

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