Silent auctions can be a bargain hunters dream! Rule of thumb: opening bid should be set at about 40% of the retail value. Your guests know that the items in the auction have been donated, with the exception of trips, so setting the opening bid too much above 40% can discourage folks from bidding.
A few other details that make for a successful auction are pre-defined bid increments and clear bid sheets with the organization’s name, item tracking number, pricing and donor recognition. Winspire*, one of my favorite companies for trips, recommends limiting the number of bid lines and including a “Buy it Now” option. High value items that can be sold more than once, such as a unique and wonderful trip, should offer several “Buy it Now”’ lines.
We all have nearly endless options of where to spend our philanthropic dollars, so whether you have a big auction, a small auction or no auction, there are two important things to remember: 1) make it easy for people to support you, and 2) make your event memorable and fun.
* a little plug: Winspire offers a vast array of unusual and interesting trips that you can sell risk free at your event either in the silent auction, super-silent auction or live auction.
Fair Labor Standards Act
This past spring, the US Department of Labor changed the guidelines for overtime pay for exempt employees.
These guidelines are applicable to any company that has employees, including non-profits, and could have significant impact. Of course this comes out of the Federal bureaucracy so it’s a little complicated. There's a link provided at the end for more detailed information.