The auctions are heating up.

We’re having a crazy winter here in the Pacific Northwest with snow and freezing temps every other day. I’m looking forward to some warmer weather as spring approaches.

While it may be cold outside, the first group of our fundraisers in 2019 have been especially strong.

The new trend has been to reduce the number of auction items. Back in the good old days, it was common to have 40-60 packages in the live auction. In 2019 it seems 10-20 items or even less seems to be the sweet spot. The audiences seem to appreciate an auction which lasts about an hour. Everyone in the room is raising their bid cards trying to chase those fewer items, and prices on the most desirable packages are bringing a premium.

Remember, supporting your favorite nonprofit or school does make a difference. If you can’t donate time throw some cash their way it all helps.

Everywhere

Remember the call I got two months ago? I said yes to a fundraising auction that was to take place in a local Portland taproom. I got the call when the original auctioneer had backed out because she did not like the group's final selection of venue.

Well, it turned out really well! It actually turned out better than any one of us could have imagined. We ended up raising nearly double the net proceeds that they had in years past. They were so pleased with the results that they rebooked us right away for their next year's event.

I'm sure glad we said yes. It was a great group and a fun auction to work and we're looking forward to doing it all again next year. It just goes to show that success can be found anywhere and everywhere, as long as you open your mind and eyes to the possibilities.

Back-to-Back-to-Back

All of my Saturday nights through the spring and fall are filled with fundraising auctions. This last week though, our team had back-to-back-to-back auctions Thursday, Friday, and Saturday evenings! I am glad to report that we managed to meet or exceed the goals at each and every event and surpassed the expectations of all those who were involved.

It really is satisfying for me when my clients feel that we knocked an event out of the ballpark. It is especially rewarding when they are loyal clients whom I have had the pleasure of working with the longest in my auctioneering career. In today’s fundraising world, if the same auctioneer is invited back for three or more years in a row; that is considered a long stretch. So, I consider myself supremely lucky to have working relationships of upwards of ten years with some of my schools and non-profits.

I still have a few full weeks ahead, so see you at the next auction!

Happy new year!

Happy new year!

The holidays are behind us. The kids are back to school. The auction business is back in full swing.

In the month of January, there are no less than five auction houses, which will sell over $200million worth of classic cars in the matter of a week. If you happen to be in the vicinity of Scottsdale Arizona between January 10th through till the 18th, that's where the first big auction events of 2015 will take place.

If you are a fan of vintage motorcycles, Las Vegas Nevada is the place to be. With Bonhams and Mid-American offering up close to a thousand bikes starting January 8th and ending on the 11th. I'll be at Bonhams checking out some of the rare bikes that will be crossing the auction block into the garage of some lucky collectors.

Then by February, fundraising season starts up again. Most not-for-profits have their spring events booked. Now is the time when autumn fundraising committees are securing their dates for venues, entertainers and caterers.

Reinvent and resize

In my last blog post, I talked about rethinking how to go about planning your next fundraising auction. One of the main points I covered was the size of the event. It really comes down to the ROI, return on investment. What if I told you that in the following year, you should only invite half the people AND double your ticket price? Your first thought would probably be an emphatic NO. I'll let you in on a not-so-secret secret. As with most other sales transactions, the 80/20 rule applies. This is true for most things in the world of business, auctions included. What is the 80/20 rule? Also known as the Pareto Principle, it is the rule of thumb that 80% of your output is determined by 20% of your input. For example, in business it works out that 20% of your customers represent 80% of your sales. Or in our case, 20% of your event's patrons are bidding for your auction items 80% of the time. That means, in a crowd of 300, there are really only 30 actual serious bidders!

Let's do the math: starting with 300 people, divide that by 2 because most people come as part of a couple, apply the Pareto Principle by calculating 20% of 150, you are then left with only 30 true bidders in the room. What if, instead of trying to accommodate a lukewarm crowd of 300 at $250 a head, you double the ticket price and halve the number of guests? That translates into $75,000 in ticket sales right off the bat! Plus your fundraiser is left with only your most committed of patrons. Isn't it likely that the guy/gal who already spent $1,000 to attend your fundraiser with his wife/her husband, be the same guy/gal who takes home the grand auction prize?

Do your own little study at your next fundraising event and then give me a call.

Size doesn't matter. Really

We live in a world where if it's bigger, it must be better.

In the fundraising world, that axiom is not always true. Sure, it's exciting to be in a room filled with hundreds of other well-dressed and like-minded people thrown together to raise money for a shared cause, while also being entertained by the theatrics of the auctioneer. But the reality of large fundraising events is that only a small portion of those in attendance are actually active participants in the live auction. In my experience, I would venture to guess that only about 20% of the room is doing 80% of the bidding and buying. Yes, it does seem that more people tend to join in on the bidding for a special appeal. Though often, that may be the single occasion of the evening when that specific bid card saw any action.

So my question to event planners out there is, "How much thought and effort do you put into the process of guest selection?" Like most not-for-profit organizations, do you simply send out invites to the masses hoping to fill the huge ballroom that you have rented for the night? Or do you pick and choose those patrons who have potential in their pocketbooks and the ones with proven buying power to contribute to your night's cause? What if you could cut the cost of producing your event in half and at the same time, double your audience participation? Wouldn't you be interested in knowing how? Stay tuned for some hints in my next blog.