One of the biggest setbacks in organizing a fundraising event is having a failed charity auction. It could make or break the success of the event. It’s important to be cautious as there are common errors that can lead to the failure of your charity auction. This blog post will outline three of these mistakes and provide helpful tips on how to avoid them, ensuring that your charity auction will be a success.
1) Holding it late
It’s important to find the ideal moment in your event schedule to hold your charity auction. Beginning too soon may result in guests being unprepared and distracted, leading to lackluster bids and a lower fundraising outcome overall. Starting too early may also inadvertently suggest to guests that they shouldn’t spend generously.
Tired people leaving gala
It’s important to be aware of your event schedule and plan accordingly to ensure maximum guest engagement and bidding opportunities. Whenever you’re planning an activity that may cause your auction to run late, it’s crucial to consider whether that activity will further your mission more than the funds your auction will raise.
Just a quick note, Michael Israel has been successfully conducting art auctions globally for over four decades. He understands the importance of engaging the audience and starting the auction promptly. He is so confident in his timing that he offers charities an income guarantee for starting on schedule.
2) Unwanted items
It’s important to select high-quality and unique items for charity auctions to prevent low or no bids. Generic items or too many of the same category should be avoided, as guests want something exclusive that they can’t find elsewhere. To raise significant funds, it’s essential to offer desirable items with a high perceived value, such as artwork collected by luminaries whose names your patrons know.
Contributors should feel like they’re getting a fantastic deal and receiving something they’ll treasure and talk about for years to come. This mutual benefit strengthens the relationship between contributors and the charity. Michael Israel’s artworks, for example, continue to be proudly displayed and talked about decades after being won at charity events.
3) Saying sold too early
Nobody wants a pre-mature climax, “premature stopping” is also a major issue that can “kill your charity auction.” Nothing is more disheartening than a failed auction and guests leaving early or not participating fully in your charity auction. Be mindful of announcing the “sold” signal too soon and create a friendly bidding competition to keep guests interested and engaged. Instruct your auctioneer or EMCee when about to say sold for the final time to stop and elaborate on the value of the item or your cause, then continue and get higher bids. Utilize a good auctioneer to keep the auction pace going and to encourage bidding wars. The longer you can keep your guests bidding, the more successful your charity auction will be.
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