These days no charity fundraiser is complete without a dazzling auction to delight donors and get them excited to spend money for your cause. Before you start planning your next benefit auction, ask yourself which type of auction is better suited for your event – a live auction or a silent auction… or both?
While both live and silent auctions have their advantages, it is important to carefully evaluate your event to determine which type of auction is going to be the best fit for your audience, your auction items, and your fundraising venue.
Quite often, Nonprofits will opt for a blend of both live and silent auctions at their fundraising event. In these cases, it is important to know the rules of thumb for how much revenue you can expect to generate from items offered in both the live and silent auctions to ensure that you meet your auction fundraising goals.
We put together the following infographic as a general overview showing the advantages of each fundraising method and providing some examples of the “auction math” you’ll have to do when planning your next event.