How to Select the Best Live Auction Items

If you oversee the live auction for your fundraising event, this article is for you! If you want to make both the live auction and the silent auction meaningful for fundraising and exciting for your guests, you may ask, “What does a successful live auction look like?” Picture a lively gala atmosphere, with a skilled auctioneer engaging the crowd and enticing bids on various items, such as a beautifully curated basket.

First, we recommend you create your live auction with your audience in mind, starting with your known supporters, board members, and staff. These individuals are usually the most interested and active bidders, so ensuring the live auction is intriguing and exciting for them sets a strong foundation for the rest of your audience. Including items and experiences that cater to their interests can boost engagement and bidding.

Since the pandemic, clients have found that procuring valuable items from donors for live auctions has been more challenging. Many previous donors and businesses are less eager to donate their private homes or special access to events. The economy has impacted this pool of donations for your fundraising events. The good news is that there are alternatives that can fill in the gaps when needed, such as offering gift baskets or gift certificates, which we will explore in more detail later.

As you procure items for the live auction, please keep in mind the following factors to ensure that your auction items appeal to a wider audience.

Lowest Common Denominator

This is a function of making sure the live auction item has the most mass appeal to your audience, leading to more bids and better results. For example, you may be asked by a parent with four children to offer something that fits their family’s needs. While it may seem unimportant when such an item is donated, it’s important to consider the typical average family size. Some bidders may be hesitant to bid on an item they can’t fully utilize because they do not have that many children or need that much space. In many cases, the winning bidder can upgrade the travel experiences you offer when they book their trip. It’s a smart strategy to provide a package that appeals to the masses, with the option to upgrade for those who want or need it. Offering a staycation package can be a popular choice that caters to local families looking for a quick getaway.

Flight or NO Flight

We often get questions about including airfare to enhance the value of a travel package. However, adding airfare can potentially discourage bidder interest in live auctions. Many potential bidders may have a preferred airline, desire first-class travel, or want to use their mileage points. Often, the added flight is standard coach, and if the potential bidder isn’t excited about that addition, they will likely lower their bidding threshold. In most cases, we’ve found that adding flights to a package does not increase the rate of return. At best, it is a wash.

That said, there are situations where adding airfare is a good idea. If the flights are bundled with a special event, such as a Taylor Swift Concert or the CMA awards, then the intrinsic value of a complete package makes it a good consideration.

Also, if the flights are donated, you can outrun the rate of return (free!), which would be a no-brainer for adding to a package. Keep in mind that if the item has the potential to be sold more than once, you will also need to include airfare for each multiple sale.

Thus, the most effective way to include airfare is in combination with a special event or destination. If donated, airfare can supplement the auction item. Another consideration here is that if the airfare is flexible, meaning the airfare credit is not tied to a specific destination, the winner may decide to separate it from the package and use the airfare for a different purpose as they see fit.

All-Inclusive or NOT?

Another bundling option is to have destinations that offer all-inclusive food and beverages. This is most common in Mexico and the Caribbean. All-inclusive packages are a mixed bag for some bidders. Some of your potential bidders prefer having all costs covered with no surprises, especially those traveling with children. However, others in your audience might like to venture out for dinners while on vacation and do not want to pay for a food and beverage package they won’t fully use. Some may feel the food and beverage quality is not satisfactory for their travel needs and might be hindered in bidding.

Of course, certain well-known brands of all-inclusive packages like Dreams or Secrets will carry themselves well in the auction. You will want to assess your crowd to understand their preferences regarding all-inclusive. If your audience is mostly parents with children, value is more important, and all-inclusive is a great choice. The bidders may be more interested in dining out if you have an older crowd.

Aim for a balanced approach if you are unsure of your audience demographics. Instead of offering primarily all-inclusive options or the opposite, provide a variety to appeal to everyone. Use one or two all-inclusive packages to appeal to part of your audience, and then include packages that are not all-inclusive to appeal to the rest.

Group or Couple?

To generate interest across all your audience, consider that some people prefer to travel alone, while others like family or group trips. Ensure your auction offerings strike a balance to cater to both types of experiences to broaden the appeal of your live auction.

A couple’s trip could be romantic or adventurous. A family trip is ideal for bonding and activities like theme parks or tours. Group travel could involve activities like golf or special events. Some people love to travel with other couples, and in fact, it’s very likely the people who are attending your fundraising event are potential travel partners, which means they will discuss the idea of buying a trip together at your event!

Keep in mind that everyone travels to some extent; you just need to provide a variety of options that fit their needs, interests, and budget.

Luxury or NOT?

When choosing the types of travel experiences for your live auction, it’s common to lean towards the lower-cost options. But at what cost? Lower-cost trips appeal to a broader audience since everyone can afford the item but also provide a lower return. An item that costs $1,000 may sell for $2,000. So you net a $1,000 return on investment.

On the other hand, you could offer an item that costs $15,000 and sells for $20,000. As a percentage, the first option is more appealing, but the higher-ticket item provides the best net revenue return. Having a little of both is a recommended strategy to tap into everyone’s travel budget.

Most of your attendees have two buckets of money at their disposal. One is their giving budget, and your attendees typically will give to 3 or 4 causes that matter most to them, such as their school, and 1 or 2 personal causes. The other bucket they might use at your event is their travel budget. Each attendee has plans for future travel or experiences. Your goal for your fundraising event is to tap into BOTH budgets. Imagine if YOUR mission becomes one of their preferred causes for their giving budget AND if your travel/experience item appeals to their travel budget!

Luxury can be very important because it provides an elevated experience on which to bid. Don’t be shy to discuss with board members and key supporters’ for input on luxury-based trips and experiences. They can help you make this decision. Including luxury items in your auction event can significantly boost your fundraising results.

Therefore, it’s beneficial to brainstorm auction ideas with your team to ensure you have a diverse and appealing selection. Consider integrating both live and silent auction item ideas to maximize engagement and success at your auction event. When curating auction items for nonprofit fundraisers, focus on a variety of items that sell well to different segments of your audience. Including a silent auction basket can also add variety and appeal to a broader range of bidders.

Vacation package considerations can be a major draw, especially if the trip is to a sought-after destination. Effective auction item procurement involves ensuring these items that sell well are included to maximize the event’s success.

The Need to Bundle

Bundling is an important strategy for live auction items. An accommodations-only package is sometimes viewed as having a lower value; thus, your guests’ bidding can be impacted. Of course, the package can hold its own if the accommodations are in a beautiful private residence or with a spectacular view. But think about it. The reason it is holding its’ own is because it is a unique experience!

Bundling means that adding extra activities or experiences can boost interest and lead to higher bids. For instance, you could include tickets to a show or theme park, golfing, spa treatments, dining options, adventure activities, memorabilia, or a meet-and-greet package. Any of these can make the trip/experience appear more valuable. (Note: You can solve this quickly with a gift certificate and simply mention the options they can access, but if you can acquire on their behalf, they will appreciate it!) By adding such items and experiences, you can significantly enhance the appeal of your auction offerings.

What Items are Most Popular in a Live Auction?

Here are the categories that are most successful for a live auction:

Food and Beverage – A chef’s dinner for 4-12 people with wine pairings is an excellent live auction item idea. Find a local favorite restaurant and see if you can secure a private dining experience. Ask your board members to tap into their connections. Or maybe you find a local chef willing to do an in-home dining experience and clean-up!

Local Travel—Bundling a local experience that allows a winning bidder to stay close to home, like a weekend in the city or a short drive from home, with extras, is a great option for those who prefer not to travel to enjoy an experience.

Domestic Travel—Beyond local, most of your audience will consider a trip to one of the most popular destinations in the US, including Florida, Napa, New Orleans, and Vegas. By adding a special experience to the package, the appeal extends to many other destinations, such as whale watching in Seattle or golf in Hilton Head.

Beach Travel—Just about anyone can sign up for a vacation to enjoy fun in the sun! There are many affordable and fun beach destinations within a couple of hours of flying time from the US that will appeal to the masses.

Special Events—A popular sports team/venue or a concert/show can attract a lot of interest, especially if the current popularity is at its highest. You may want to avoid teams having a tough season, but offering an experience for the family or a group can be worth more than the teams playing!

Sporting Events—Offering a package that gives a winning bidder the opportunity to enjoy their favorite team or sport is a great live auction item idea. Suites to events will go well, but even tickets for two will be worth it if it is the right time and place.

International Travel – There has been increased interest in traveling abroad. It has been quite some time since many people have traveled abroad, with Covid and the economy playing its part. There is a hunger to explore the world. Finding a popular destination like Tuscany, Greece, or Spain is a great addition to your live auction.

Summary

Your live auction can be the highest revenue source the night of your event. It is also the most exciting part of your fundraising program, so having the right mix of trips and experiences in your live auction is crucial. Make sure your auction appeals to the masses, strikes a balance, and offers good value. By putting in the extra effort to get this fundraising element right, you will see positive results. 

FAQs

How can I find items for our auction that will raise the most money? To maximize your fundraising potential, it’s essential to select popular items that resonate with your audience. Reach out to your local businesses for donations, as they are often eager to contribute. Additionally, consider using auction software like Winspire to help you find items that have proven success in similar events.

What are some ideas to wow our guests at a live and silent auction? To truly impress your guests, curate a mix of big-ticket items and unique experiences. One-of-a-kind items such as a tour of a local art museum or a round at a prestigious golf club can create excitement. Bundling items together to form great auction packages can also enhance appeal and drive higher bids.

How can auction software help increase fundraising at our event? Using auction software is a great way to bring efficiency and excitement to your event. It handles every detail, from managing bid auction activities to tracking available coupon codes. This software can simplify the process, allowing you to focus on engaging with your donors and ensuring everyone who attends has a seamless experience.

What are some strategies to successfully incorporate both live and silent auctions into our event? Combining live and silent auctions is a great way to bring variety and keep the energy high throughout your event. For the right live auction items, focus on high-value experiences and big-ticket items. For the silent auction, consider more accessible items and experiences like local businesses offerings or a new smart vacuum. This mix ensures that there are appealing options for all guests, regardless of their budget.

How do I determine which auction items are best for our nonprofit fundraising event? Choosing the right live auction items involves understanding your audience’s preferences and what popular items have previously performed well. See if you like our compiled list of top-selling items, including travel packages, exclusive dinners, and unique experiences. For charity fundraising, it’s crucial to offer items that guests will be excited to bid on, as this enthusiasm translates to higher bids and more funds raised.