What is the best way to do an online auction?

First, make an inventory of all the items you planned to include during the in-person auction. Use Buy Now and maximum bids.

What is the best way to do an online auction?

First, make an inventory of all the items you planned to include during the in-person auction. Use Buy Now and maximum bids. COVID-19 had forced her to cancel the association's spring fundraiser. At first, Letitia thought she would be able to relaunch the event at the end of the summer, but things hadn't progressed that way.

He didn't know when a live event would be possible, and in the meantime, he was facing a major revenue shortfall. But in the era of COVID-19, fundraising has changed. Instead of focusing on her usual tactics, Letitia needed to find a fundraising option that would allow her to raise the same amount. Take a look at Sharp Again Naturally's online “Memory Drive” for inspiration.

They combine a 45-minute live virtual event with their silent auction. Attendees are invited to learn about their work, listen to a success story, watch yoga and cooking demonstrations and bid in the silent auction. Start with around 20 auctioned items. You can add more as you feel comfortable with the software.

Anyway, you don't want to overwhelm your bidders with endless options. Don't start opening bids too high. Instead, aim for around 35% of market value to be low enough to be attractive, but with plenty of room to bid. Whether your online auction is face-to-face or virtual, a smooth registration process gets the event started on the right foot.

So how does an online auction work? Is it the same as eBay or some other e-commerce store? Auctioneer: A trained professional who presides over the auction, initiates the sale of a lot by describing the item and starting the tender. Once the first offer is made, others may offer higher bids. Bidders can be present in the salesroom, by phone or online. Auctioneers also make bids on behalf of absent bidders and ultimately determine when the highest bid has been made.

If a work is sold, the auctioneer announces, “sold. If the item does not meet your reservation or there are no bidders, the auctioneer indicates this with a “pass”. Has your organization been thinking about holding a silent auction? This can be a great way to raise funds and engage your donors. Throughout the event, keep participants informed.

Notifications are a great way to keep attendees engaged. Whenever a guest's bid is exceeded, alert them. This will create a sense of urgency that will encourage them to bid higher. Similarly, announcing deadlines or hot items can drive participants' attention and boost bids.

With payment processing, bid tracking, and donor management, online auctions are too complicated for a DIY solution. If your membership is at least 200 people, an online auction has a good chance of selling most of your products and making a good profit. If you are thinking about trying to hold an online auction without a specialized software platform, stop here. You can start sending invitations online via email or spreading the word in your community as soon as the auction dates run out.

When the silent online auction ends, announce the winners and have the items delivered to them as soon as possible. If you call your followers, send a quick follow-up email with a link to your online auction. Be sure to pay attention to your viewed lots, in app notifications or in your email, for overbid alerts during the time an online auction is closed. With the COVID-19 situation, most nonprofits are opting for online channels and virtual media to conduct their silent auctions.

Known for its easy setup, Charity Auctions Today offers six functions for events (attendee management, paddle boosting, mobile bidding, online auctions, cash donation, event tickets), but you can choose only what you need. Fortunately, not only is it easy to turn a traditional auction into an online one, but it's also just as fun. Whether your nonprofit's online auction is part of a larger virtual event or lasts for several days, you need to stay in touch with your supporters. Whether you like the adrenaline rush of competitive bidding or prefer the convenience and ease of leaving a maximum bid and waiting for results, online auctions fit your bidding style.

If you are planning an online auction without a face-to-face event, consider the logistics of getting items to the winners. The results were so good, that Letitia is now considering doing an online auction again next year, regardless of whether it is possible to hold face-to-face events. . .

Belinda Moskovitz
Belinda Moskovitz

Belinda writes posts for retail, ecommerce, and online auction sites. She's also a music, travel and technology lover. You might find her secretly watching zombie movies.