Live vs. Virtual Silent Auctions: which should you choose?
We’ll walk you through the details and how-tos of the three types of auctions to help you choose:
• Online (virtual—doesn’t require a venue)
• Live (can be silent or with an auctioneer)
• Online and Live (Takes the most effort but raises the most funding)
What Is a Silent Auction?
Silent auctions, like traditional auctions, raise funds through attendees bidding on items donated by sponsors. The highest bid wins and the proceeds go to the organization or cause.
Unlike a traditional auction, however, a silent auction doesn’t have an auctioneer. Instead, attendees write their bids on bid sheets. Throughout the event, bidders can return to the bid sheet to see if they are still the highest bidder and/or raise their bid to secure the item. Fun and excitement can erupt when bidders get into a competitive bidding war for a single item.
Once you’ve selected the type of online auction you’ll use, review how an online auction moves from start to finish in the six steps below. It’s a helpful tool to help you organize a successful auction.