Live auctions fundraiser are a great way to raise money for your organization. They can be live, online, silent, or live and online. Before you decide to host a live auction fundraiser event, you must educate yourself on the basics of this activity so that you can maximize success and profit. If this sounds like something you would be interested in learning about, please continue reading!
1) What are its benefits?
– They are fun for everyone
-These events can be very profitable if done correctly. They tend to bring in more money than silent or online live auctions, making them an excellent choice for fundraisers looking to maximize their profits!
2) How does it work?
– live auctioneers will throw out items that people can bid on (silent, live and online live auctions do not have an actual person)
3) What is the minimum amount I need before I start planning my event?
Live auctions typically require a lower minimum amount than other live auction events. Still, you should always budget for the worst-case scenario. Before planning your live auction fundraiser, make sure to have at least $100-$500 of items available
4) Are there any additional costs?
Although it is unnecessary, many people choose to rent out space to accommodate their guests and increase profits. Depending on how much money you are trying to raise, this could be beneficial or detrimental.
Think of this activity as something fun that can benefit a lot of people