Preparing to Host An Auction<br/> — That Sounds Like a Plan!

Silent auctions are a popular fundraising activity for nonprofits and their supporters.

Sometimes auctions are viewed as easy money. If you’ve ever organized an auction, you know it’s anything but easy. They are a lot of work!

When you put processes in place, it makes everything go more smoothly and makes you look more professional. BEFORE you ask for a single donation, you need to prepare to host an auction. Find out what you need to do and how to do it, step by step.

In this episode I share:

Why it’s important to prepare to host an auction before asking for donations.
How to determine the ideal number of items to have on your auction
A process for soliciting and tracking donations.

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Follow these steps to prepare to host an auction:

Step 1 - Determine your auction goals & budget. Calculate the ideal # of items using the Goldilocks Formula (# of guests ÷ 3 or 4), taking into account the amount of physical space you’ll have to display items, and then calculate your revenue goal by taking the # of ideal auction items (using Goldilocks Formula) x an average per item of $75 or $80.

Step 2 - Determine the type of auction you’re going to have: in-person, online or hybrid. Will there be a theme? Are you going to use an online auction platform or bid sheets?

Step 3 - Develop your donation solicitation process & materials. Brainstorm & research your donor prospect list, create a tracking spreadsheet so you can stay on top of which companies are being asked and by whom, build your donation form, and create a donation request letter that can be used by the whole committee.

Step 4 - Put together your auction team (if you haven’t already), walk them through the process of adding companies to the list and researching them or putting their name by companies already on your spreadsheet and sending a letter or email to that company using the template you shared in Google Drive or submitting an online auction request.