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How to Add Item Values to Your Auction Items

TL;DR

You can add or update item values directly in the item settings. This helps display fair market value to bidders and makes reporting more accurate for your auction.

Author: Tom Kelly 2 min reads

Why Adding Item Values Matters

Adding item values to your auction items helps create transparency for bidders and supports accurate reporting for your organization. It lets participants see the fair market value (FMV) and can encourage more competitive bidding, especially when donors recognize the true worth of the item.

Step 1: Log In to Your Dashboard

  1. Log in to your event dashboard.
  2. Select the event that contains your items.
  3. Go to the Items tab in the menu.

Step 2: Select the Item to Edit

  • Find the item you want to update.
  • Click “Edit” next to that item.
  • This will open the full item details page.

Step 3: Locate the Value Field

  • Scroll to the “Item Value” or “Fair Market Value (FMV)” field.
  • This is where you can enter the total value of the item.
  • If your item is a bundle or package, use the combined total of all components.

Step 4: Enter the Item Value

  1. Type in the dollar amount of the item’s value.
  2. Make sure the amount reflects the fair market value (not necessarily the starting bid).
  3. Click “Save” or “Update” to apply your changes.

The value will now display on the item page for bidders to view.

Step 5: Add Values When Creating New Items (Optional)

If you’re adding a new auction item:

  • Fill in the Title, Description, and Starting Bid as usual.
  • In the Value field, enter the estimated or known FMV.
  • Save the item to make it visible to bidders.

Adding the value during creation saves time and ensures all listings are complete.

Step 6: Use Values for Reports and Receipts

  • The item value is used in event reporting to show fundraising performance.
  • It may also appear on bidder receipts for tax purposes (depending on the organization’s policy).
  • Accurate values help with accounting and donor acknowledgment.

Pro Tips for Entering Item Values

  • Use realistic market values to build trust with bidders.
  • For donated items, confirm the value with the donor.
  • If the item has no clear market value, use a fair estimate.
  • Round to the nearest dollar for clean presentation.
  • Keep records for compliance and reporting.

Frequently Asked Questions

Why should I add item values?

Adding item values shows bidders the fair market value and helps your organization generate accurate reports and receipts.

Where do I add an item’s value?

Go to the item’s edit page and enter the amount in the “Item Value” or “FMV” field, then save your changes.

Can I edit an item’s value later?

Yes. You can update the value of any item at any time from the event dashboard by editing the item.

Do bidders see the item value?

Yes. The fair market value is displayed on the item’s page, helping bidders understand the worth of what they’re bidding on.

Can I add item values in bulk?

If your platform supports bulk upload, you can add values using a CSV template. Otherwise, you can edit items one by one.

Is item value the same as starting bid?

No. The item value represents fair market value, while the starting bid is the minimum amount a bidder can offer to begin bidding.

Can I hide item values from bidders?

Most organizers display item values, but some platforms allow hiding them if preferred. Check your event settings.

What if I don’t know the exact value?

Enter your best fair estimate. For donated items, confirm with the donor or research typical retail pricing.

Does the item value affect bidding?

Yes. Displaying a realistic value can encourage more competitive bidding and help increase final bid amounts.

Can item values be used for tax purposes?

Yes. Many nonprofits include item values on receipts, but tax deductibility depends on local laws. Donors should consult their tax advisor.

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Tom Kelly

Tom Kelly

Tom Kelly, TEDx speaker and CEO of CharityAuctions.com, helps nonprofits raise millions through auctions and AI. He hosts The Million Dollar Nonprofit podcast and inspires leaders to live their legacy, not just leave it.

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