Hi Ninja4good, Thanks for the great post and sharing so much helpful info. I especially liked your "spy'' idea! So much so that I put it in our blog on the site today!
*ADVERTISE: Advertise your Auction Items before the event! Create a buzz!
*KNOW YOUR AUDIENCE: Choose Items that you know your audience would love!
*DOLLAR IS IN THE DETAILS: Spend some time building your baskets, preparing your sheets, and adequately display every item to make it look more valuable!
*INVITE BIG SPENDERS: Stack your deck by giving some of your big spenders a free ticket! They will be obligated to spend more money!
*TIMING IS EVERYTHING: Make sure your auction follows the free cocktail portion of your fundraiser!
*SPY: Follow who is bidding and update them if they have been outbid! Encourage BUY IT NOW's for a larger payout!
*UPDATE THE AUDIENCE: Constantly provide updates on neglected items and popular items throughout the event!
*HIRE A PRO: A good auctioneer will encourage bidding by reading the audience and could increase your profits by 100%!
All of the things have worked great for me and my fundraising events!
I always think it is helpful to provide liat of auction items to attendees prior to the event. This peaks interest and also let's people set a budget. And it gives them some focus. Once people walk into an event they start socializing and it can be hard to focus and also get a good look at all the items and think about them. I have attended auctions and only after coming home later had a chance to look at and read the auction booklet. There were times I saw great items in the book that I didn't. Really get to look at at the auction. Too late! Also it stinks to arrive at auction and come across an item that you would love to bid higher on but didn't budget for before hand. Not everyone enjoys splurging on impulse. A master of ceremonies who creates hype about various items during the event can also help. Also a buy it now option which you already refer to can help as it can quickly bring in full value on some items while also quickly reduce the number of baskets available and thus create higher demand for those items that are left. Best of luck.
