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.


Change #2: The right lighting


Do stores use dim lighting or bright?

Silent auctions ...

from George

Washington’s era.


Change #3: Adequate space


• Cheap items = casual displays

• Pricey items = nice displays

5 for $20

3 for $45 5 for $20


Does this scream “cheap” or “expensive?”

Change #4: Props


Guests should be able to experience the item.

Entice them to buy.

Change #5: Guaranteed Bid


Let’s make it easy for guests to spend

money.

What is

Guaranteed

Purchase?

An opportunity to buy

an item outright.


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


Why use it?


2. Guys like it.


Let me tell you

a story about that

jewelry tree.


Why use it?


2. Guys like it.


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


I work auctions all over the USA,

and you can find me online here:


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

Silent Auction Strategies - 5 Easy Changes for Higher Revenues

Technology

Transcript of Silent Auction Strategies - 5 Easy Changes for Higher Revenues