Gathering auction lots

Transcript

It sounds obvious, but the key to a successful auction is having something your bidders actually want to buy. Present them with the right thing at the right price and you will have a very exciting auction. 

I have three bits of advice for this: 

1. Keep it commercial -  Whether a fundraising or commercial auction, it might feel awkward but it is ok to say no to donations or consignments. Auctions run for a finite time, every lot needs to be commercial for it to succeed.
   
   If an artist donates a work that is 10 years old and 4m x 5m, there is probably a reason why they still have it. If they can’t sell it then it is also unlikely that you will be able to.
   
   So thank them, but ask if they have a smaller, newer more commercial piece. You don’t want to have your time taken up with lots that aren’t going to sell. 
   
   
2. Keep it curated - Try to avoid items that are exactly the same. It is much better to concentrate the bidding on fewer items, achieve a great result with them and then sell the others to the underbidders after the auction. 
   
   If you have been donated something but it doesn’t fit with the theme or aesthetic of this particular auction, then save it for another auction, even run it as a separate single-lot auction before or after this one. Your auction will have a far more professional feel, and therefore incentivise more bidders, if it is curated.
   
   
3. Bidder research - This is the easiest way to include things that are going to sell.
   
   Before you start gathering auction lots, why not ask your audience what they would like to bid on? Then go and source it.
   
   If someone says they love a particular brand, why not approach that brand explaining you have someone very keen to bid for their product so this could be great marketing for them to a like-minded audience. 

In terms of sourcing lots, there are plenty of auction consignment companies out there and we have a growing list of them in our Help Centre, but I would first recommend you look to see what you have access to or lean on your networks to see what they can include. Be creative. 

For example, we’ve worked with a well known Ballet group that every year in their auction sells a chance to conduct their orchestra at a rehearsal. This goes down a storm with their audience and costs them relatively little. But it isn’t just what you have, but what do your partners, clients and supporters have access to? 

With some auctions, it may be worth forming a committee to help source lots through their contacts. Plus with a sense of ownership of the auction, they will also help make sure everything sells.

One last tip, if you are running a fundraising auction, do consider giving your donors the choice between a full or partial donation of their auction lot. 

People get asked the whole time to donate, and they are more likely to give you something of higher quality, if they receive a portion of the sale. Plus they are more likely to help promote it.