How Does a Silent Auction Work?
Most of the time, a silent auction is done for charity or helping organizations raise money for a particular cause. The scenario that comes to our minds when we think about auctions, we see people in a room yelling out bids on different items being auctioned. However, a silent one is different and much more orderly.
What Is a Silent Auction?
Just like a regular auction, a silent one also includes items that guests who are invited can bid on. It can be various things, including destination packages, art, a jewelry fundraiser, gift certificates, and gift baskets, among others. The items being bid on are placed around a room. There are written descriptions beside each item that explain the article and a bid sheet for guests to write their bid on. The one who bids highest in the fundraiser receives the item at the end of the auction. Silent auctions play a significant role in helping to raise money. Whether it is for a non-profit organization or charity, the auction items are typically provided by people or businesses as donations. All the money raised is given to the charity or non-profit group. If everything goes well, the auctions raise a lot of money, thousands of dollars. The money raised helps with the growth of organizations and helps them get donors and attendees interested in the cause.
How Does a Silent Auction With Jewelry Work?
Next to each item that is being auctioned, there is a description of the products. Guests can write down their bids. A jewelry fundraiser involves a display of custom jewelry, gold, silver, sports jewelry, as well as a plethora of other types. At a traditional jewelry fundraiser, guests usually have their own clipboards with the bid sheets attached to them. They are very popular since jewelry is easy to carry around, and there's less damage involved in the transportation. The guests can then write down the highest amount they'll be able to spend on each item they're bidding on. What makes silent auctioning better is the fact that each guest isn't aware of what other guests bid on.
In most cases, items are placed on a table and a bid sheet plus a description. Each guest is given a number that they use instead of their names in the fundraiser. This makes bidding more comfortable for guests since they remain anonymous, and they can bid against their family or friends. Guests can bid on all the times they like without being limited. After the whole auction is done, the donations and items that are auctioned go to those who usually make the highest bids.
Is a Silent Auction Right For You?
They do take a lot of time when it comes to putting things together and executing them successfully. It can even take both charities and non-profit groups many years to organize events and even collect items. However, technology has come in handy since there are apps you can use to create successful auctions.