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Silent Auction Fundraisers

 

A "silent auction" is a fundraising event during which a large number of items are placed up for bid to an invited audience. There is a time allotment placed on the bidding. While the auction is open, people may write down bids on a sheet placed in front of each item. The highest bid at the end of the allotted time wins the item.

The items are either donated to the school so there is a 100% profit margin, or they are sold to the school at a greatly reduced price. In this case, the school's profit is whatever is bid above and beyond the initial cost.

While a silent auction has more room for error than a live auction (since there are generally more items in a silent), the amount of work that goes into planning a successful silent auction is still tremendously high. It requires attention to detail, a commitment from the leadership and volunteer crew, hours of preparation, and a strong effort to procure items for auction.

As with a live auction, only your most proven volunteers should take charge of this event, but should also make sure they are always training the next generation of leaders.

Best Situation

Although a silent auction can stand alone and be successful, it is wise to couple the event with another reason for gathering to increase your potential attendance. This could be a holiday party, a dinner, or a sporting event, like a golf outing.

Income Potential

High. The amount of money you can make at a silent auction can vary greatly, depending on how many items you procure, how many people attend, the quality of the items, and the presentation of each item up for bid. Obviously, the more effort you put into all these areas, the greater your potential income.

Keys to Success

Have an emcee during your silent auction who can generate excitement for items that might not be getting all the bids you had hoped for. With a wireless mic, he can engage the crowd, create buzz, and pump up your profit.

 

Additional Resources

Silent Auction Guide and Toolkit - ebook provides step by step instructions for planning a silent auction

Live Auctions - add some live auction items to increase revenues

Online Auctions - run an auction for your school online

cMarket online auction software - Designed especially for schools and non profits, this software makes running an online auction much easier.