Live auctions are an essential element to any successful fundraising event and by overlooking this element you may be leaving BIG bucks on the table!
Here are the top three reasons why you should have a live auction at your fundraiser:
1. Live auctions are FUN! A survey conducted by the National Auctioneers Association determined that the number one reason why people attend live auctions is because they are fun. You can’t have a FUNdraiser without the fun! People will keep coming back for years to come if they have fun at your event, and with the right people in the seats this directly equates to more revenue.
2. Live auctions bring the big dollars! A live auction with the correct 7-10 items will many times eclipse a silent auction with 50 items in revenue generated. If you want to tap into the larger donors in the crowd, a live auction with higher dollar items is a perfect way to accomplish this.
3. Live auctions provide a spectacular marketing opportunity! Leading up to your fundraising auction event you should be taking advantage of as many marketing opportunities as possible to advertise your event. When you have great live auction items you should be advertising these as well as the event itself. If you go on a local news station’s broadcast then talk about some of your top live auction items that will be sold at the event to create a buzz. Remember, don’t just focus on the party… focus on the fundraising.
Written by Mike Grigg, AARE, BAS of Elite Auctions and Fundraising Services