Auction Fundraising Simplified
by
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Chapter 8 - Procurement What's For Sale and Who's There To Buy It Procurement, or acquisitions, is the lifeblood of any auction. Without items to sell, there is no auction. The ideal scenario is to cover all auction expenses through sponsorship and ticket sales with revenues raised through the live and silent auctions being pure profit.
The way you approach procurement and implement strategies will directly affect success. In addition to the procurement of auction packages, the sales aspect of who will bid on them must be considered.
This chapter covers information to:
Ø Ø Ø Ø Ø Ø Ø Ø How Procurement Works At its most basic level, procurement needs to be targeted to the demographic of the clientele. You can have the greatest items in the world for sale, but if your clientele can't afford to buy them, the auction has lost revenue. Or even worse, if the auction packages are sold for far less than their value, donors won't be inclined to give auction items in the future. Make sure that the items for sale are a good fit with the purchasing power of the majority of attendees. Bidding Power
The auction needs to ensure there is enough bidding power in the audience to reach the established goals. A rule of thumb is that you'll need at least 150-200 guests or more to reach a $125,000-$150,000 goal depending on the socio-economic level of attendees.
To reach higher revenues depends on one of two factors:
1. There are enough attendees to purchase auction items at reasonable bid amounts to reach the goal
OR
2. There must be higher level auction packages with a more affluent clientele to purchase them
Variations in bidding power depend greatly on the audience demographic and the type of auction. For example, a specialty auction with an affluent clientele (wine, art) will make more per auction lot than a small school auction selling general merchandise, but will also need to procure at a higher level.
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About the Book
Auctions are unique in the world of special events. They contain core elements of other fundraising events, but a critical factor is that they also must procure auction items to match their clientele and then motivate those bidders to buy. True success requires the application of creative strategy to every facet of the event, as well as the use of organized systems to stay on track. Auction Fundraising Simplified shows how to think outside the box, provides examples and worksheets, and will help add thousands of dollars to the bottom line. Contained within these pages is information about: ·
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Insider tips and strategies for "thinking outside the box"·
Identifying auction demographics and laying a strong foundation·
Examples, systems, timelines, and worksheets for all auction elements·
Choosing an effective auctioneer·
Determining what committees are needed and how to keep them on track·
Ideas for recruiting sponsors, donors, and attendees·
Targeted procurement techniques for obtaining auction items·
Packaging auction lots for the highest sale·
Catalog writing processes and tips to save time·
Negotiating contracts with venues, caterers, suppliers, and others·
Food and beverage suggestions for menu planning and service·
Ways to market and promote your auction·
Creating site plans and logistics schedules·
Contracting for production (stage, sound, lighting, visual media, entertainment)·
Using volunteers for maximum effect·
Pre- and post-auction activitiesThe easy-to-read format and systems in Auction Fundraising Simplified have been successfully used by auction managers of all skill levels and by academic institutions as a teaching tool. We guarantee this book will pay for itself many times over in time and financial gain.
About the Author
Judy Anderson has more than 20 years of experience as a highly successful auction and event producer. She specializes in large, complex charity auctions and events but assists organizations of all kinds and sizes. Her insights have a proven track record of incredible success in the fundraising arena where she has helped raise millions of dollars for charity. Anderson is based in Portland, Oregon and provides management, consulting, and training services under the business name of Power Productions. She holds a Certificate in Festival and Event Management from the University of Oregon and frequently speaks at conferences and meetings about fundraising events and related topics. Anderson is the author of two books. Event Management Simplified has been used as a course text by academic institutions including the University of Oregon's Festival and Event Management Certificate program. Auction Fundraising Simplified relates specifically to the elements of fundraising auctions and events that benefit nonprofit organizations.