Today's post applies to live auctions. Over the last two weeks, I’ve received some version of this email from two different clients: "The donor of this item wants to set a minimum starting bid of $1500. What do you think? What starting bid would you recommend?" It’s not uncommon for those new to benefit auctions to confuse the terms “starting bid” and “minimum bid.” Usually your donor is expressing “minimum bid,” meaning that he doesn’t want the item to sell for less than the amount he has ... Read On >