One of the first questions that I am asked by a prospective or existing client is, “what is selling for BIG money?” That could be anything. It doesn’t have to be a new car or an exotic vacation or a dinner with a famous chef. Honestly, it all depends on what YOUR supporters like to bid on at auction.
Each auction is different. There could be two benefit auctions being held in the same venue and both auctions will be completely different because the audience is totally different. It all makes sense right? There are common factors though for a live auction and for a Fund-a-Need auction. Both must be lined up with similar desires of the supporters.
So how do you know what to procure for an event? Are you going to insert the exact same items and packages as you did last year? Unless it is a tradition item, I would say do not replicate the same packages. With each year, they will start decreasing in interest and in the sold price. Bidders want a wow factor and they want that wow factor to be something that they like, not something that “wow, this is the same as the last 3-years auctions.”
How do you go about knowing what your supporters want? It’s simple. Discover what they want to bid on at your auction. There are many ways to make that work for you. Discovery is one of the strategies that Auction brio shares with clients. We direct clients to target procurement. There is no need to procure items that bidders do not like. It is a waste of time. Go for what they want and raise more money! Contact Mark Schroeder CAI, BAS, CES and team up with Auction brio llc.