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Why People Bid (Don’t Let Your Money Walk Out The Door)

April 02, 2013
You’re holding your next nonprofit auction, you have your announcer, your items for auction, the crowd of people, and you made sure to do plenty of publicity about your auction beforehand. Now, how do you ensure that your items actually get a bid? Two things to always consider before planning are the time of the auction (not so late that you risk losing some of your crowd) and use of a professional benefit auctioneer or a known personality with lots of pizazz.
 
Here are some other top tips from Mitch-Stuart, Inc.:
 
The opening bid is reasonable – If bidders find that the opening bid on a travel package is reasonably priced or lower than what they had expected, people are likely to bid on that item.
 
The item is popular – Seeing lots of other people bidding on a specific package will attract others to that package. If an item is popular among others at the auction, people will tend to feel that they too want the item.
 
The item is unique. . .The “WOW” Factor – Offering exceptional trips that an individual cannot purchase from going to a travel agent or website, is a great way to generate interest. If bidders cannot get this specific package or trip from anywhere else, then the package is worth more.

Added bonuses –
Anyone can offer a trip to Paris or a trip to Disney World, having those extra bonuses in with your package, makes your trip different. These include trips to spas at the place of your vacation, dinners at high-end restaurants, tours of the city, etc.
 
The trip is personal – Maybe the bidder went there for their honeymoon, or studied abroad in that country, or used to go to the place as a child, whatever the reason, this person would love to win the bid and get to travel to this place once again!
 
The chance to hobnob with “boldface names”! – Everyone has that one celebrity that they would pay any amount of money to meet, and here is their chance! Mitch-Stuart offers opportunities to attend the Grammy's with the after party, The Prime Time Emmys, Country Music Awards and the ESPYS (Sports Awards) and many other events where value-added can mean a start-studded affair!
 
What have you found helps your item get a bid at an auction?