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?

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“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

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Does this scream “cheap” or “expensive?”

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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