"I'LL PUT ACTION IN YOUR AUCTION!"
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JIMS TIPS
The Live Auction - Give It Prime Time and Prime Space
Jim feels strongly that it is vital to the success of the event that he personally meet with the planning committee prior to the auction.
"The live auction is the featured event of the evening -- it must be entertaining, yet very profitable for your organization."
"Live auctions historically produce two-thirds to three-quarters of the net profits that you will raise during your event. You must carefully examine how you display and choreograph your auction to efficiently reap the profits from the night's feature presentation."
Here are some very key suggestions:
1) Timelines are crucial. Make a timeline and stick to it! Dinner must be served on time. The auction is held immediately after dinner, early in the program (before the raffle and free 'give aways').
2) Items to be auctioned must be displayed/presented with props that will maximize 'perceived value' and in a prime location that is 'high-traffic', bright lights, flashy table coverings, vertical displays. (Don't let your auction order affect your display. A few items displayed out of order to highlight the presentation is okay!)
3) The auction must be uninterrupted. Do not distract the feature presentation with other activities. Begin the live auction as soon after dinner as possible (while people are still eating dessert is perfectly acceptable).
4) The number of items to be sold and the order in which they are presented is critical. Place high-value items in the top-third to top-half of your order list.
5) Time is precious. If your auction takes too long or is broken up with other activities, your audience will lose interest and you will begin to lose money. Keep the high-ticket items up front while people are at their peak interest level.
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6) Don’t get tricked in to the mindset that more live items means more money. Depending on the size of the crowd, 15 to 20 items in the auction is sufficient.
7) The auctioneer must be a professional who is well-informed about your items. It is also very important that he keep up with his continuing education. He should also be a member of his state and national auctioneering associations.
8) A good sound system is essential.
TIPS & TRICKS
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The Live Item Order is Important
Use a ‘bell curve’ with high value items in the top-third to top-half of the order list. Do not save your high dollar items for last! We can help you determine the order of your live auction items to insure we’re selling the highest value items when we have the crowd’s full attention.
Stick to your timeline
You have a limited amount of time to keep your audience engaged to obtain the maximum return for your organization. Dinner must be served on time, and the auction should be held immediately following dinner. The live auction should not be interrupted with other activities. A professional auctioneer can judge the timing of the crowd and live auction, so engage us early in the planning process to help you determine the timeline and schedule of events.
Quality not Quantity
Don’t get tricked in to the mindset that more live items means more money. The actual number of live auction items depends on your crowd and your event, but generally speaking 15 – 20 items is sufficient. Too many items typically ends up costing you money; as bidders get weary, and values are diluted.
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"These are just a few tips to help get you started, but to complete your package and make your auction a success, call me!" ~ Jim Glines