Fundraising method that is commonly used at charity events is a silent auction. It is different from the usual auction wherein an auctioneer calls the price from people who raise their hands or numbers to bid for a particular lot. Silent auction is the most preferred way of raising money as it does not detract people from the event.
A table or a display that shows the items or services on sale is set up for the people to see at the silent auction. Some items or services may have a minimum bid as they may be of high value. Some silent auctions have one receptacle to hold the bids for all the goods on sale; others have individual container for each item. The bidders have the chance to view all the items during the event and bid the item they like.
Previous bids can be shown publicly through a bidding sheet at the silent auction. This will let other bidders to know that they need to outbid in order to bring home the item. This also will let the bidder a chance to review the current bidding sheet and place their final bid prior to the closing of the auction.
Silent auction keeps the bids privately throughout the event. This make silent auction has an advantage over the regular form of auction. Since it is largely used at charity events, silent auction don't need to hire a professional charity auctioneer.
A regular auction capitalizes on impulse of the buyers to bid for the items in a very short amount of time. Silent auctions on the other hand allows bidders to consider the amount of their bids longer.
More often than not, charitable events use both silent auctions and regular auctions to take full advantage of both systems.
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