I recorded this video a few minutes after getting off the phone with a potential client.
She and her committee weren’t fond of their previous auctioneer.
“She started with a high opening bid,” she said. “Too high. And then in order to get anyone interested in bidding she had to drop it down. Way down. It was so embarrassing to our donor.”
The subject of where to start the opening bids on your live auction items can be a divisive topic.
I’ve observed a discrepancy between what many auctioneers think is a good idea for an opening bid and what nonprofits think is a good idea.
The topic is further compounded because the scenario this woman described is considered a best practice among many auctioneers. This approach is taught frequently in auctioneer schools as the proper way to introduce the bidding on an item.
(Incidentally, I don’t do it. But I do understand why many fellow auctioneers follow the practice.)
In today’s video, you’ll learn more about this hot topic.
In addition, a nice complement to the above video are these two posts:
- “Where to start your opening bids in your live auction“
- “The difference between a minimum bid and a starting bid“
Check those out.
And meanwhile, if YOU have comments about this topic, share them below.