Silent Auction Strategies - 5 Easy Changes for Higher Revenues
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Transcript of Silent Auction Strategies - 5 Easy Changes for Higher Revenues
Presenter: Sherry Truhlar, CMP, BAS, CAI
www.RedAppleAuctions.com
SILENT AUCTION STRATEGIES
Five easy changes for higher revenues
Who is Sherry?
Good ideas get around
Television Print Other
• ~50 onsite
auctions
annually in
12 states
• Classes,
workshops,
products
• Frequent
speaker
The big picture
The big picture
Item Acquisition
Who likes to donate?
Which items are best?
What never sells?
How do I ask?
Where do I get items?
The big picture
Audience
Development
Item Acquisition
How do we get new people?
Ticket price?
Why aren’t they buying?
Will people come?
How do I change mindset?
Seating charts
Sponsorship
Underwriting
The big picture
Operations
Audience
Development
Timeline
Technology tools, like e-bidding
Marketing
Registration & Check-out
Themes / decor
Auction set-up
Bid sheet preparation
Item Acquisition
The big picture
Audience
Development
Item Acquisition
Operations
Timeline
Technology tools, like e-bidding
Marketing
Registration & Check-out
Themes / decor
Auction set-up
Bid sheet preparation
Your mindset?
Your gala should be run like a business.
And your silent auction is a boutique.
Please treat it like one.
Is this your mindset?
========
“Everything we spend
takes away from our bottom line.”
========
This isn’t a business mentality.
It’s not even accurate.
Businesses invest for payoffs later.
She treated it like a business...
Hear her story under the “Free Resources”
tab at www.RedAppleAuctions.com
She treated it like a business...
Listen to them at
www.RedAppleAuctions.com/robin/
Change #1: Sound system
(with a wireless microphone)
Let’s think like a business...
Do stores use sound?
... They do at my supermarket.
Hotel ceiling sound
systems are NOT
designed for
auctions.
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Change #2: The right lighting
Let’s think like a business...
Do stores use dim lighting or bright?
www.RedAppleAuctions.com
Silent auctions ...
from George
Washington’s era.
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Change #3: Adequate space
Let’s think like a business...
• Cheap items = casual displays
• Pricey items = nice displays
5 for $20
3 for $45 5 for $20
www.RedAppleAuctions.com
Does this scream “cheap” or “expensive?”
www.RedAppleAuctions.com
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Change #4: Props
Let’s think like a business...
Guests should be able to experience the item.
Entice them to buy.
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Change #5: Guaranteed Bid
Let’s think like a business...
Let’s make it easy for guests to spend
money.
What is
Guaranteed
Purchase?
An opportunity to buy
an item outright.
www.RedAppleAuctions.com
How to implement?
The rule of thumb is
150% to 200% of
value. But it varies by
your program’s
timeline, item number
and quality, etc.
It could be 80% of
value ... or 500% of
value.
Why use it?
1. It attracts bidders through psychology
2. Guys like it.
3. It makes it easier for your check-out team
www.RedAppleAuctions.com
Why use it?
1. It attracts bidders through psychology
2. Guys like it.
3. It makes it easier for your check-out team
Let me tell you
a story about that
jewelry tree.
www.RedAppleAuctions.com
Why use it?
1. It attracts bidders through psychology
2. Guys like it.
3. It makes it easier for your check-out team
www.RedAppleAuctions.com www.RedAppleAuctions.com
We covered these ...
1. Sound
2. Lighting
3. Spacing
4. Props
5. Guaranteed Purchase
The complete silent auction
resource
Get it at: http://bit.ly/AuctionWebinars
Or at this long link: www.RedAppleAuctions.com/benefit-auction-consulting-and-training/auction-summer-
school/
What about items?
Any procurement help?
Free procurement help
Grab yours at
www.RedAppleAuctions.com
I work auctions all over the USA,
and you can find me online here:
www.RedAppleAuctions.com
www.Pinterest/SherryTruhlar
www.Facebook.com/RedAppleAuctions
www.LinkedIn.com/in/SherryTruhlar
www.Twitter.com/AuctionExpert
Where to find me?
Sherry Truhlar, CMP, BAS, CAI