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FAQ: Auction Costs and Benefits


How much does a benefit auction cost and how much will we make? Question submitted by students with response from the auctioneer. Feel free to submit your own question to our Auctioneer.

 

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Auction Cost / Benefit Analysis

We are students at (name removed) High School in Houston,TX.  We are doing a project about Universal Education which is a hypothetical project.  We would like ideas on how much it would cost to do an auction.  Also, what would we auction off and how much money do you think we would make for auctioning items off.

- Grace and Matt

Hi Grace and Matt,

Charity auction costs depend on the venue rented, the food served, beverages, decorations, and finally the auctioneer team. A good charity auctioneer will charge a fixed rate which could be anywhere from $400 for a beginner to $4000 for a celebrity auctioneer.  Possible revenue can be anywhere from a couple hundred to millions of dollars depending on a number of factors.

Patrons: Do you have a email list of supporters in the area? Or another way to get the word out about the auction and encourage ticket sales? Some organizations have an easier time building and cultivating community support.  Schools have a natural support structure of parents, since that money raised directly improves the lives of their children. Helping children is always appealing, but can be difficult to get the message out if there isn't already a communication channel. And for those attending, what kind of disposable income do they have?


Procurement: What's your target procurement value? What's your target fundraising goal? It's difficult to put a formula to it the first year, but eventually you will have a good idea of how much needs to be procured to raise your target amount at the auction. Just in case you didn't already find it on our site, here is a link to some procurement ideas.


Volunteers: Again, this where it helps to have an email distribution list. Those who can't afford to attend and bid might be able to provide their time. I can send along the different roles that you will need filled for an auction of 100 people. Workplace bulletin boards, community blogs, Yahoo Groups, Craigslist - these are places that you might be able to raise awareness and hopefully attract volunteers, maybe even patrons. The best I know for reaching volunteers is VolunteerMatch.org

Best of luck with your project!

 


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