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Want to Hold A Successful Charity Auction?
Part 2

 
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Want to Hold A Successful Charity Auction?

A rapid series of business transactions that includes defining a specific product or service, bids offered, higher offers are asked for and accepted until no higher offers are made, agreement to accept the highest offer and the product is sold.

The auction process is one of the oldest methods of transacting business know to man going back to the Egyptians selling slaves, camels and figs.  This very public and exciting method of selling is now used to sell cattle, cars, stocks, computers, cotton, wheat, land, oil well mineral rights, antiques or anything else men or women want to exchange money for an item.

What the auction is not

An auction is not a place for the indecisive.   Once a bid is made and accepted by the auctioneer the bidder is committed to buy for the price he offered.  That commitment is firm until someone bids higher.   If his price is topped, he can either bid higher or quit.

An auction is not the place for the uninformed shopper.  If the item is properly described in the catalog and by the auctioneer with all the restrictions, caveats, notices and hazards…the rule of "buyer beware" is definitely in play.

An auction is not the place for strong, out of control egos.  We have seen bidders pay dozens of times over market price because two bidders were at war.  One bidder not allowing the other bidder to out bid him. The auction sponsors love the bidding war, the audience cheers them on and the auctioneer is a huge success.  But the winning bidder was taken to the "woodshed" and will probably hear about it again and again in years to come.

One time, in a Dallas auction, a head strong, ego driven buyer I personally know got in a bidding war and paid $30,000 for a small child's backyard play house.  Yes, the playhouse was wired for electric, making it very up scale...for a child's playhouse.  The buyer paid 30 times what he could have gone out and paid for the house at the local hardware.  That was a good night...for the auctioneers, the audience and the auction organizers. 

What is a charity auction

It didn't take mankind very long to invent the charity auction.  All that had to be done was put together a couple concepts and a little human nature.  The concepts being auctions and raising money for charity reasons at low cost per dollar profit.

The human nature side being entertainment, having a good time at a social event and charitable tax deductions.  Throw in the first grade class project with each little tike's painted handprint on a $25.00 child's picnic table and that could sell for $1,000 or the chance to buy a $10,000 trip to Paris for $2,500.00 and we have a sure formula for a successful auction.

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This series of auction articles was originally written by Dan Eckert
Strictly Sales Support