An auction is one of the most popular ways to raise money for a charity. In addition to raising awareness about the mission of a charitable organization, charity auctions attract donors and participants because auctions are fun, exciting, and beneficial to the community.
- People enjoy friendly competition. Auctions are a great way to foster competition among friends, families and colleagues gathering to support a charitable organization. As friends and acquaintances vie for the same auction item, they can enjoy the friendly competition knowing that they are both helping to raise money.
- All proceeds go to a good cause. Whether people participate in an auction by volunteering to serve drinks or by bidding on an item, they are donating their money and time to a charitable cause. The focus is not on generating profit margin, but on raising money to help people who need it the most.
- You can find some great bargains. In a charity auction environment, you never know when you may be able to score a luxury vacation or signed photo of your favorite athlete at a low price.
- If you bid more than the market value of an item, you can deduct the excess. Sometimes bidders at a charity auction are more than willing to pay more than the market value of an item because they are eager to help a charitable organization. In these cases, the IRS allows you to write off the difference between the amount that you bid and the item’s market value.
- Music, food, and drinks help create a festive environment for participants. Auctions are often accompanied by good music and great food. In some cases, some people who end up bidding at an auction chose to attend just because their favorite DJ was on hand.
- People can catch up with old friends and colleagues. Charity auctions are often held on an annual basis, providing a great opportunity for people who are passionate about the same cause to reconnect with each other.
- People enjoy the adrenaline rush that accompanies the bidding process. The auction atmosphere is exhilarating for many participants. Time seems to fly by during auctions as bidders set their sights on a coveted item and strive to experience the feeling of excitement that comes along with being the winning bidder.
- Donors enjoy increased brand recognition while helping those in need. Businesses and individuals who donate items for charity auctions often receive the benefit of increased awareness of their brands. Even more important, their willingness to contribute to a charitable cause helps them develop a positive reputation in the community.
- Charity auctions can help break up the monotony of a structured meeting. In many cases, charity auctions are included as a part of a rigidly structured, comprehensive event program. In these instances, the charity auction often becomes the most anticipated part of the event program because participants are ready for some fun and friendly competition.
- Everyone comes together for a great cause. In the end, auctions are popular because everyone participates to accomplish a common goal. Feelings of camaraderie are built and participants feel a sense of self-worth knowing that they are helping to raise money for a charitable cause.
Make Your Next Charity Auction a Success with the Help of an Industry Leader
Please contact us at WEDO for strategies to help make your next charity auction a success. Our team of professionals has the expertise to guide you through the auction preparation process to make sure that your event is exciting, fun, and successful in its mission to raise money for charity. We look forward to working with you!