A charity auction is a public sale where all or part of the proceeds are intended to help charities. It works in different ways, offers many benefits, and comes in different types.
If you want to raise funds to assist victims of calamities, to offer to charitable organizations, to fund scholarships, and to do other acts of charity, you may want to consider a charity auction. Here are some ways Charity Auctions work to help you raise funds:
Charity auctions defined
A charity auction is a type of auction that aims to raise funds for a charitable work. It is usually initiated by a group that intends to designate proceeds, either partially or totally, to charity, such as helping calamity victims, donating to charitable organizations or sponsoring scholarships.
How a charity auction works
A charity auction usually works in one of two ways. Companies may be invited to participate and sell at the auction and donate a certain percentage of their proceeds to the cause. Alternately, organizers of the charity auction may ask certain businesses or individuals to donate items to be sold at the auction. Great examples include accessories from celebrities and fashion icons, autographed items from sports stars, and instruments from rock artists. Coming up with a great theme and interesting items is very important in order to draw more attention from the general public and make your charity auction more successful.
Benefits of charity auction
A charity auction holds many benefits for everyone involved. The apparent benefit is that it helps charities and other organizations raise more funds for certain charitable projects. Aside from raising funds, it also helps create awareness among the general public that such charitable organizations exist or that a certain group of people are in need. Companies and individuals are further given the opportunity to get involved in charitable events and help the less fortunate. If you are the buyer of an item at the auction, the benefit is also dual. You get the item you want while helping the auctioneer raise funds for charity. Everybody wins in a charity auction.
Types of charity auctions
There are different variations of charity auctions, including live and silent auctions, as well as theme-based and online charity auctions.
* The live auction is arranged in such a way that items are individually and verbally presented for live bidding.
* A silent auction is for auctioning items displayed at a special venue with bid sheets prepared near them. The bidder may bid on an item with his signature beside the bid amount. A number may also be assigned to him, which he shall indicate beside his bid amount, instead of his signature.
* In a theme-based auction, items sold are related to the cause of the event. For example, books may be sold in a charity auction that aims to raise funds for scholarship foundations.
* Online charity auctions are considered the most efficient charity auction. Bidding and payments are completed online. It is very convenient for both the organizers of the auction and the buyers of the items.
You may also combine two or more of the charity auction types in order to raise more funds for a good cause.