Unlocking Successful Charity Auctions: Dispelling Myths and Maximizing Bids

Welcome to the inaugural edition of Fundraising University! Today, we're tackling a pervasive myth in the realm of charity auctions: the necessity of listing retail values for auction items. Let's dive in and debunk this misconception once and for all.

In our quest to demystify charity fundraising practices, we consulted with our trusted Accountants, who diligently researched prevalent myths. One myth stood out prominently: the notion that listing retail values on auction items is essential. This belief, while widespread, is not rooted in reality.

Citing IRS Code 561, it's crucial to clarify that charitable donors are only entitled to claim the retail value, not the selling price, on their annual taxes. However, over time, this guideline has been misinterpreted, leading to the misconception that charities must disclose retail values to potential bidders.

With over 17 years of professional fundraising experience under our belts, we've witnessed countless instances where items with "known retail values" failed to meet expectations. Consider a recent Silent Auction scenario featuring two enticing items:

• "Unique Experiences for Auction": A $1,000 Gift Certificate for a private jet experience.

• "High-End Collectibles for Auction": A $500 Gift Certificate for a renowned cowboy boot company.

Despite their perceived retail values, the auction outcomes were surprising:

• The private jet experience sold for $220.

• The cowboy boot company certificate fetched only $200.

These results are not anomalies; they're a recurring pattern. Despite our best efforts to advise charities against listing retail values, many still do so, unaware of the unintended consequences.

So, what's the winning strategy for charity auctions? It starts with setting realistic starting bids or "Reserve Bids" and defining bidding increments. Moreover, organizations should curate auction items strategically, focusing on offerings that ignite excitement and evoke a "Fear Of Missing Out" (FOMO) among potential bidders.

Embrace items that offer exclusivity and allure, such as:

• "Celebrity Memorabilia for Auction"

• "Luxury Items for Auction"

• "Entertainment Packages for Auction"

• "Travel Packages for Auction"

• "Artwork for Auction"

• "Home and Lifestyle Items for Auction"

Remember, the key to success lies in understanding your audience and selecting items that resonate with their interests and aspirations. Dispel the myth that guests will bid based on retail values alone; instead, focus on creating memorable experiences that inspire generosity and support your organization's mission.

In conclusion, let's rewrite the narrative of charity auctions by prioritizing impact over perceived value. Together, we can elevate fundraising efforts and make a lasting difference in our communities. Stay tuned for more insights and strategies from Fundraising University!

Navigating the Charity Fundraising Game: Why BW Unlimited is Your Coaching Staff, Not Your Entire Team

In the world of professional sports, the Head Coach plays a crucial role in strategizing, managing, and guiding the team to victory. But one thing is clear: the coach doesn't suit up and play the game. This analogy holds true in charity fundraising, particularly when organizations are searching for a partner to plan and host a Fundraising Gala. Let's explore the roles of BW Unlimited Charity Fundraising and your Charity/organization during the planning and preparation of your fundraising event.

"Charity Fundraising Gala Planning"

Much like a Head Coach, BW Unlimited Charity Fundraising assumes the role of the coaching staff, not the entire team. It's essential to understand that hiring a fundraising partner doesn't mean handing over all responsibilities. Our role is clearly defined: we provide expert advice and strategies to make the event a success.

"Building a Winning Fundraising Team"

The success of any fundraising event hinges on assembling a dedicated and effective team or committee. At BW Unlimited, we emphasize the importance of creating a "Rockstar Team." We guide our clients in selecting team members who are up to the task, ensuring they contribute to the event's success by selling tickets, securing sponsors, and obtaining donated items.

"Effective Fundraising Event Strategies"

Just as a Head Coach creates plays for a game, we work with our clients to develop a winning strategy for their fundraising event. However, the success of these plays depends on the team's execution. We provide guidance based on our extensive experience, but the client's commitment and adherence to the plan are crucial for a positive outcome.

"Experienced Fundraising Coaches"

Experience matters in fundraising, and the BW Unlimited Charity Fundraising coaching staff brings over 30 years of success to the table. While team members may have attended or organized a few events, our extensive resume showcases a consistent track record of hosting 30 to 40 successful fundraising events annually. Trust in our experience for a successful fundraising campaign.

"Maximizing Fundraising Results"

Ultimately, every charity or organization aims for a successful fundraiser that maximizes funds. To achieve this, it's imperative to follow the coaching advice provided. BW Unlimited is here to direct and guide, but success requires active participation from the charity or organization. Leave it all on the field, and the end result will be a fundraising victory.

In conclusion, when searching for a charity fundraising partner, remember that BW Unlimited is your coaching staff, not the entire team. We bring expertise, experience, and strategies to the table, but your active involvement is key to achieving fundraising success. Together, let's win the Super Bowl or the World Series of Fundraising.

"Elevate Your Charity Gala: 5 Reasons to Choose George Wooden as Your Auctioneer"

When it comes to charity auctions, the right auctioneer can make all the difference in the world. As fundraising directors and event planners, you understand the power of a compelling auctioneer who can engage donors, inspire bidding wars, and ultimately drive your fundraising goals. If you're looking for the perfect auctioneer to elevate your charity gala, you need look no further than George Wooden. In this blog, we'll explore why George Wooden is the ideal choice for your next fundraising event.

The Brandywine Valley SPCA Forget-Me-Not Gala which raised $550,000.00 in one evening.

"Experienced Charity Auctioneer":

George Wooden stands out as an experienced charity auctioneer who brings a wealth of knowledge and expertise to the table. With a track record of successful charity events, George knows how to create an atmosphere of excitement and generosity, ensuring that your fundraising gala is not just an event but an unforgettable experience.

"Passion for Fundraising":

One of the most important qualities to seek in an auctioneer is a genuine passion for the cause. George Wooden's dedication to your charity's mission is unwavering. His heartfelt commitment shines through in every word he speaks, touching the hearts of your donors and motivating them to open their wallets in support of your cause.

"Charismatic Auctioneer":

Charisma is a must for a successful auctioneer, and George Wooden has it in spades. His warm and approachable demeanor draws donors in, making them feel not only comfortable but genuinely excited to participate in the bidding process. George's charisma sets a welcoming and engaging tone for your charity gala.

"Tech-Savvy Auctioneer":

In today's digital age, staying ahead of the curve is crucial for any fundraising event. George Wooden is tech-savvy and well-versed in the latest auction technologies. Whether it's mobile bidding, live streaming, or interactive features, he ensures your event embraces innovation to maximize donor engagement and contributions.

"Versatile Fundraising Expert":

George Wooden is a versatile fundraising expert who can adapt to various event formats. Whether you're planning a formal black-tie gala, an outdoor fundraiser, or a virtual event, George has the skills and experience to make each unique event a success. He tailors his approach to fit your specific needs and audience.

Conclusion:

When searching for the perfect auctioneer for your charity gala, consider George Wooden your ideal choice. With his extensive experience, passionate dedication, charismatic presence, tech-savvy approach, and adaptability, he embodies the top qualities that fundraising directors and event planners seek in a charity auctioneer. George Wooden isn't just an auctioneer; he's a catalyst for turning your fundraising gala into an unforgettable experience that raises the funds your charity needs. Make the smart choice for your charity event – choose George Wooden as your auctioneer and watch your gala reach new heights of success.

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"Unlocking Success with Sponsored Charity Auction Items"

Charities often underestimate the power of sponsored charity auction items, but they're essential for fundraising success. Take, for instance, our best-selling item, the Frank Sinatra and Dean Martin Drinking Quote, featuring famous quotes and autographs.

Frank Sinatra and Dean Martin “Drinking” Quote - BWUCF Decor and Wall Art Auction Item Catalog

This item has a consignment cost of $250, reimbursed only if it sells, with profits retained. But, consider this: you can have these costs sponsored and underwritten, resulting in higher profits.

Sponsorship opportunities are accessible for everyone, even small businesses looking for event exposure. Create a win-win by offering items for sponsorship, just like "Jane" from "ABC Realty."

We recommend a "Sponsorship Catalog" with various items that can be sponsored, paid upfront. By securing sponsorships in advance, you can raise more funds even before the event starts.

On the event day, set the opening bid slightly above your cost to guarantee a profit. Suppose "Bob" wins the bid at $500; your charity benefits, having already received $250 from Jane's sponsorship.

Even in the unlikely scenario where no bids are placed, your charity keeps the sponsorship money, and we retrieve the item for another charity event.

Maximize your strategy by getting as many items sponsored as possible. It's a fantastic way to have unique items at your fundraising event.

This approach can be applied to various event costs, covering entertainment and more. It's a low-risk, high-reward strategy. In comparison, not following this strategy might lead to smaller profits.

Our mission at BW Unlimited Charity Fundraising is to help you surpass your fundraising goals while offering remarkable auction items at your events.

For more details, reach out to us at 443.206.6121 or info@bwunlimited.com, and visit www.BWUnlimited.com. Get the support you need to make your charity event a success!