5 Questions to Ask When Considering Using a Silent Auction Company for Your Fundraiser
The very first question your fundraiser event team should ask is: do we want to have a silent auction? If the answer is yes, then there are several ways to go about planning the auction. Many non-profits believe that they should have all of their items donated. While this is a good way to make a 100 percent profit, it is extremely time-consuming and can be difficult to get items or experiences that will sell. Often, the non-profits will go with the “blended” approach. Some items are gifted, others to be acquired from a silent auction consignment company.
When choosing a silent auction company, here are some helpful questions to ask as well as the right answers for a successful event.
- Do we have to pick up the items and set up the display?
If the answer is yes, you will be taking on almost as much work as procuring the items yourself. A good silent auction company such as Socially Funded, will deliver the items and set up the display.
- Should the non-profit decided which and how many items to use from a silent auction company?
While a good silent auction company will listen to the event team’s ideas about which items will sell, the silent auction company should be well-versed about what sells with regard to the demographics of the guests. Companies like Socially Funded do hundreds of auctions a year with very diverse clients, they have a good idea of what fits with your attendees’ interests.
- How much should the non-profit pay for the items and are they responsible for what doesn’t sell?
The first answer is a resounding NOTHING! A good silent auction company will take only a percentage and never make the non-profit responsible for what doesn’t sell. Socially Funded takes the profit margin one step further than most silent auction organizations, they not only pay the non-profit %100 percent over the minimum bid, they have a built-in profit on the minimum bid.
- Who should take payment at the end of the event?
Obviously, if you use a silent auction company that requires you to do all the work, that would include taking payment. Socially Funded will take the payments for you, or let you take them, whatever you prefer. Things can get pretty hairy at the end of an event when everyone is wanting to check out. Socially Funded relieves you of that burden and then presents a check to you at the end of the evening!
- What is the most important feature of a silent auction company to consider when choosing one?
It’s not always easy to decipher, however, it’s important to choose a company that is not in it just for their profit but rather a company such as Socially Funded, who works with your non-profit as a partner, working hard to make the most money for your event. Socially Funded was conceived with the mission to be a philanthropic partner and maintain a successful business. Our business model allows us to do both. Call today and let us make your next event, successful, interesting and easy!