Silent Auctions: How To Keep Your Bidders Spending
When your silent auction is chocked FULL of great items, you may find that your bidders are quickly running up all the bids to the Guaranteed Purchase.
As more items get snatched up, it’s important that your bidders aren’t wasting time looking at anything that’s unavailable.
We want them to MOVE ON to the items they can actually spend their money on.
In the chaos of the event, it can be tricky to keep up.
But here’s the trick...
To quickly identify that an item has been sold, remove its bid sheet and replace it with a placard that says “THIS ITEM IS SOLD.”
This easy trick comes in incredibly handy.
First, if an item is sold at the Guaranteed Purchase, you can expedite your data entry by taking that bid sheet and getting it entered straight away.
Just make sure to replace the bid sheet with the Sold sign, or you may have a frustrated bidder wondering, “How do I bid on this?”
And if one of the volunteers sees an item without a bid sheet but doesn’t know it’s been sold, they may create ANOTHER bid sheet and ultimately a double sale.
Second, as more and more THIS ITEM IS SOLD signs start popping up, your interested bidders are going to start feeling the pressure to WIN an item before it gets grabbed up and will hopefully start committing to the Guaranteed Purchase, driving your silent auction Return on Investment (ROI) up up up.
You can get clever with the placards and create them to match your theme of your event.