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    January 28

    Keeping the Silent Auction Open

    When should I close the silent auction?  Should I keep it open during dinner to try to raise more money?  What about during the live auction?  Good questions.  We've spent a lot of time discussing this with clients and auctioneers.  Our best advice is:  
    Close the silent auction before dinner & live auction.  You can close it in sections or all at once, but we repeat Close the silent auction before dinner & live auction.

    Guests should enjoy themselves.

    In our experience, once dinner is served, bidding diminishes to a trickle.  A few stalwarts will continue bidding.  The rest of your guests will breathe a sigh of relief--"I'm ready to eat!"  A small cadre will make half-hearted attempts to return to bidding occasionally, and more than a few will be annoyed that they still need to protect their bids, and can't simply enjoy dinner and the live auction. 

    It's exciting!

    When you count down to closings with all your guests in the silent auction area, it's exciting, and people eagerly bid against each other, raising more money for your cause.  When you count down during dinner, perhaps 10-15% of the guests participate, and generally don't need to bid to win.  The rest of the guests wonder when the emcee or auctioneer will quit talking on the microphone so they can return to their conversations.

    It's friend-raising, not just fundraising.

    A fundraising auction is about raising money, AND it's also about building community.  Your guests should be enjoying dinner and visiting with each other.  They should feel free to enjoy the live auction and the auctioneer's performance--this is part of the evening's entertainment.  If they're worried about a silent item they want, or trotting back and forth to check the bid, they're not having as good a time as they might, and they're not bidding in the live auction.  Maybe they can't afford to bid in the oral auction, but you can't afford to have them distracting others who might.

    Won't we lose revenue?

    In our experience, the incremental money raised by keeping the silent auction open during dinner & live auction is insignificant.  But don't take our word for it: at your next event, go around and place a "tickmark" on the silent auction bid sheets just after the last bids, as dinner is being made available.  When you pick up the bid sheets later, we believe you'll see that most items don't have higher bids.  Once most bidders are done, they're done.

    We don't have a live auction.

    OK, but the real question is "Why not?"  All of our clients' and our own experiences shows that a well-run live auction, even with only 12-18 items, plus a pledge/fund-a-need/give from the heart/raise your paddle will raise as much or more as you've already raised in your silent auction. (usually more)  If you're going to the trouble of organizing your event, and dinner, and table seating, and a festive theme, you're leaving too much money on the table by skipping a live auction.  And yes, you need to hire a professional auctioneer--but that's a topic for another entry.

    Data entry is easier.

    Ah yes, enlightened self-interest... Even with the fastest keypad entry operators and great software, it still takes a finite amount of time to enter winning bids, perhaps 5-10 seconds apiece.  Multiply that times 300 items; 25-50 minutes, or more if there are interruptions, illegible bids, etc.   You can reduce the time by networking several computers together, but it still takes some time.  Then you want to run reports, check your data entry and print invoices for your guests.  When you keep the silent auction open late, you reduce time for data entry.  If guests try to leave early, you'll feel rushed, and have lines for checkout.

    We've always done it this way...

    Yes, you have.  We know this is a big change for some organizations.  Don't be afraid to change.  Focus on making your guest experience marvelous from start to finish.  They'll thank you for it, they'll bid more cheerfully, and they'll be back next year! 
     
    (c) 2007, Auction Systems Inc, all rights reserved

    Triplicate Bid Sheets

    Many organizations have used triplicate bid sheets for bid entry at their silent auction, usually three copies, white, yellow and pink, and placed by the item on the table. This paper is also called "NCR paper." Guests place bids by writing on the top copy with a ballpoint pen. The chemicals on the paper combined with the pressure of the pen create carbon copies of the written image.  Is it necessary or useful to have three copies?  Let's explore further.

    Why triplicate bid sheets?

    At traditional events without event management software, when bidding is completed, the top two copies of the triplicate form are pulled off by volunteers. The remaining copy is left on the table near the item for reference. The top two copies are torn apart; one copy goes into a file or binder sorted by item number, the other copy is sorted into a hanging file by bidder number. Tearing the sheets apart, sorting, and filing them requires several volunteers and significant time.

    When the guest is ready to check out, the bidder copies for that guest are pulled from their hanging file and totaled by adding machine or calculator. Sales tax should also be added for certain items in many states. However, most organizations choose to reduce total event proceeds by paying the sales tax out of the payments, or simply fail to comply with local and state regulations. Depending on legibility and the cashier's facility with the calculator or adding machine, the cashier may be able to total the bid sheets quickly, or it may take some time.

    Why NOT triplicate bid sheets?

    With event management software, bids are entered into the computer by typing Item #, Bid # and Bid Amount into a rapid data entry screen; the software produces comprehensive, itemized and totaled invoices. Multiple copies of the invoice can be printed so both the cashier and guest can keep a copy of the invoice reflecting payment. Event software, such as Auction!, can add applicable sales tax for the flagged items. Bids are entered as sections close and during dinner, so invoices can be printed in batch or singly, on demand. As a result, bidder copies of the bid sheets are no longer necessary.

    What about duplicate bid sheets?

    This is a tougher question--Leaving the second copy on the table can be helpful for your item redemption team. When guests bring itemized invoices to item redemption, it's easier to confirm the correct item to be picked up.

    However, a copy of the bid sheet left on the table once a section is closed encourages "looky-lou's." These guests spend time investigating who bid against whom, and who won certain items, rather than continuing to bid in the next section or enjoying the company of friends at the event. While this is an understandable curiosity, it is not particularly productive behavior at your event, as they often drag others to review those same bids.

    If you choose to leave a copy of the bid sheet on the table, we strongly encourage you to rope off or isolate those sections once closed.

    How do I print multiple copies?

    Auction! is flexible; you can set it to print one, two, three, even up to five copies of your bid sheets.  See My Photos, Bid Sheets & Catalogs

    Or you can print your bid sheets to a PDF file, and email or take the file to a printer who'll create your duplicate or triplicate sets. You can control the exact result! See Printing Duplicate or Triplicate Bid Sheets for details.

    (c) 2007, Auction Systems Inc, all rights reserved