Live Auctions: Energize Your Donors With Bid Frenzy AKA Speed Paddle
Hello, my Fabulous Fundraisers!
I love Speed Paddle, otherwise known as Bid Frenzy, because it’s a great revenue generator for items that don’t COST too much, but have a lot of INTEREST.
Bid Frenzy items are usually on the chopping block because there just isn’t ENOUGH TIME in the program to facilitate a FULL-ON live auction for these items.
After all, we want to make the MOST money we can, in the SHORTEST amount of time, and we have a timeline to stick to. Let’s go people.
Here’s how to set up Speed Paddle:
You’ll be offering somewhere between 3 to 10 items that each have a SET PRICE.
This could be the ACTUAL price of the item or a price point that is SLIGHTLY over the actual value.
YOU determine whatever you think your crowd will PAY.
These items should be easily purchased on an impulse buy, so don't go overboard and out price your bidders.
Each item should have a full description in the catalog of what it includes.
When it’s time to PLAY, put up a powerpoint slide with all the items listed ALONG WITH the price point.
The auctioneer will TURN their back to the crowd, read ONLY THE TITLE of the package, then QUICKLY turn around, and award the item to the first interested bidder they SEE!
It’s the BIDDER’S job to be VISIBLE and make some NOISE so the auctioneer will CHOOSE them.
A Bid Frenzy can get a crowd REALLY rowdy, so always place it at a time in your program when you want to ENERGIZE the room.
With Speed Paddle, you can use any items that will APPEAL to your crowd. Restaurant gift certificates, concerts, weekend escapes... It’s fun, it’s playful, and it’s PROFITABLE.
So give it a go at your next event!