Home > Blog > Strategic Planning > The 4 Types Of Bidders At Every Benefit Auction
Hello, my Fabulous Fundraisers! Did you know that there are always 4 types of bidders at every benefit auction?
Yup. Four, and it’s super helpful to consider what each type of bidder is hoping to get out of the night.
Let’s take a look at the four types of bidders out there, and just what exactly gets them fired up to give.
First up, The Bargain Shopper.
The bargain shopper scours the Silent Auction to find the “best deals” of the night.
They may or may not bid in additional sections of your auction, but one thing is for sure: they are on the hunt for the deal of the century.
To find out how to get your Bargain Shoppers even more excited, here’s the easist way to offer The Perfect Number of Items For Your Silent Auction and how to Do Mobile Bidding Right In Your Silent Auction.
Next up, The Competitive Bidder.
Competitive bidders are the people who believe there’s literally no difference between 2nd place and finishing last.
These folks will be living for your live auction items.
They will stop at nothing to get that big sexy item you’re selling because they want to be seen bidding and THEY WANT TO WIN. To make sure you’ve set up your Bid Cards properly, here’s our Easy Guide To Creating Profitable Bid Cards.
Competitive Bidder’s Favorite part of the event: THE LIVE AUCTION
Third, The Philanthropist.
Philanthropists are usually coming to your event to enjoy a fun night with their significant other and their friends.
They like to give generous gifts to support great work and don’t really care to take anything in exchange.
Supporting your great work is REWARD ENOUGH, so they are likely to give during the Special Appeal.
Philanthropist’s Favorite part of the event: THE SPECIAL APPEAL
Make sure you always set up your Special Appeal as Unrestricted Funds.
And Finally, our Fourth type of bidder. They know when to hold ‘em, when to fold ‘em, when to walk away, and when to run....
That’s right: The Gambler.
The gambler is there to try their luck. And winning a raffle would be the ULTIMATE RUSH.
Any game of chance is right up their alley.
The Gambler’s Favorite part of the event: THE RAFFLE
You can easily raise $10,000 with your Raffle of choice (if you live in a state that allows them). Learn how we set up our two favorite raffles: The Golden Paddle & The Golden Ticket.
If you’re thinking of adding or eliminating a section from your auction agenda, it’s important to think about which type of bidders might be the most disappointed.
In my experience, the Philanthropists and Competitive Bidders will give the gifts with the highest dollar amounts, but if you think you’ll have a large number of Gamblers and Bargain Shoppers in the mix, even if their gifts are a little bit smaller, they can really add up.
Now, let’s go raise some money!!