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 ... Read On >
opening bids
[VIDEO] Where to start your opening bids in the live auction
Every year I'll be asked by a few auction chairs, "Sherry, let's review the opening bids on these live auction items. Where shall we start them?" In this video and the post that follows it, I've addressed why you shouldn't care about opening bids. Here's a conversation I'll have with some clients each year: "Sherry, this item is worth $2500. Where are you going to start the bidding?" "Start?" I'll counter, "It doesn’t matter where I start the bidding. It matters where I finish ... Read On >
The difference between a minimum bid and a starting bid
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 >