The Secrets to a Killer Live Auction: 5 Essential Ingredients for Fundraising Success
So you're planning a live auction for your next fundraising event? Live auctions can be incredibly fun, engaging, and a powerful way to energize your crowd and generate significant revenue for your cause.
But a poorly planned auction can quickly turn into a snooze-fest, with guests checking their watches or, even worse, heading for the exits.
Don't let that happen to you! This guide reveals the five essential ingredients for a successful live auction, along with common pitfalls to avoid. Let's turn your next auction into a record-breaking fundraiser.
The 5 Essential Ingredients for a Killer Live Auction:
A Professional Fundraising Auctioneer: This isn't the time for a volunteer or an amateur. Hire a professional auctioneer who specializes in working with non-profits, schools, and churches. They'll know how to work the room, engage a crowd (even after a few drinks!), and maximize bidding. It's an art, and it's a skill that comes with experience.
Bid Paddles or Bid Cards: Keep it simple! These are essential for tracking bids, but don't overthink them. The key is large, bold, three-digit numbers that the auctioneer can easily see from the stage. Download our free printable templates [link to resources] to save time and money.
The Right Auction Items: You need a mix of donated and/or consignment items.
Donated Items: These are pure profit for your organization. Think a board member's vacation home or a unique experience related to your mission.
Consignment Items: These are professionally curated experiences (often travel) that you can sell at no upfront cost. You pay a base price only if the item sells, and you keep the profit above that price. This allows you to offer big-ticket items without the risk. A good auctioneer can often sell multiples of the same item.
A Captive, Seated Crowd: This is non-negotiable. Standing crowds, especially after a cocktail hour, are uncomfortable and easily distracted. A seated audience is a focused audience, ready to bid. Make sure everyone is seated comfortably before the live auction begins.
Professional Audio-Visual: Can you hear me now? If your guests can't hear the auctioneer, they can't bid. A professional AV system with a quality microphone and speakers throughout the room is an absolute must. Don't skimp on this!
Top-Selling Live Auction Items:
Travel: Trips to popular destinations, both domestic and international.
Unique Experiences: Think behind-the-scenes access, meeting a celebrity, or participating in a special event.
Mission-Related Experiences: These tie directly to your cause and create an emotional connection with bidders. (e.g., a day at an animal shelter for an animal rescue organization).
Private Chef Dinners: In-home dining experiences with a renowned chef are always a hit.
Staycations: Local getaways are still very popular and can be easier to procure.
Why Live Auctions Flop (And How to Avoid It):
An Inattentive Crowd: Keep them seated, comfortable, and ensure the audio is crystal clear.
Bad Timing: Don't start the auction too late in the evening when guests are tired or need to leave.
The Wrong Items:
Too Expensive: Know your audience and their budget.
Poor Fit: Choose items that align with your guests' interests.
Bad Marketing: Promote your auction items before the event to build excitement and pre-bidding interest.
The New Rules of Live Auctions
It used to be common to have 12-14 items in a live auction. Now, attention spans are shorter. Most live auctions are seeing better results with just 3 to 7 high-quality items. Keep it short, sweet, and impactful!
Conclusion:
Planning a successful live auction takes effort, but it's absolutely worth it. By following these tips, and focusing on the five essential ingredients, you can create a dynamic and profitable auction that your guests will love.