Mobile bidding is the future of charity auction fundraising. The pairing of non-profits and technology has crowned mobile bidding apps “king” in the realm of raising money for charities. Not only do people enjoy the excitement of bidding competition but they also can do it conveniently and, in the end, feel good about what they are doing. Here is the psychology low-down on auction bidding and why it works and the future of mobile bidding.
The Psychology Of Bidding
There is no doubt that people love the competitive nature of ascending-bid auction models. Just look at the success of eBay. Non-profits can tap into this human nature to generate success for their own charitable auctions. But why is it that human beings are willing to pay more than an object is worth, which is often the case in auction scenarios?
In studies of auction winners on eBay, it is reported that they do not use the “max bid” feature. Auction winners on eBay will go past the threshold of what might be a logical maximum bid in order to win. This is because of the psychology at play. What happens in the human psyche when another bidder outbids you is that, rather than think that they simply want the object more, the response is akin to how a person feels when they have been robbed. In other words, the bidder goes on the defensive, determined to take back what they perceive to be “theirs”. Being out-bid is offensive, an outrage. How dare such a thing occur! It triggers the deeply conditioned belief that losing at anything, even a bidding war, is shameful. So, in other words, in an auction, often the winner is the most irrational person! Or, at least irrational as the competition is raging.
The Strongest Seller
Time and time again it is the unique travel adventure that raises more money at a charity auction than any other offer. Why might that be? Surely it’s not simply due to a moment of madness overwhelming a person as they compete with other bidders. The dear reader would be correct in that assumption. Temporary bidding madness is only part of the formula. For one thing, bidders see an opportunity to take a vacation they otherwise could not afford. Consider the average price tags of some of the most expensive vacations:
- A luxury stay in Austria or France can cost about $2,000 per night.
- To cruise on the Queen Mary 2 will set a person back a minimum of about $4,000
- A top-rated stay in Switzerland can be accompanied with a $5,000 nightly price tag
- There are weekly luxury packages to Italy that can cost upwards of $100,000
A charity travel package auction poses the possibility that a more economically minded traveler might be able to snag the trip of a lifetime at a steal. The future of bidding for these luxury travel hopefuls is actually happening now.
The Rise Of Digital Auctions
Digital platforms connecting charities with donors and bidders is happening now. Charity travel auctions are no exception to the worldwide trend of technology users performing virtually every lifestyle task via mobile app. Online auction activity for users makes bidding available anywhere, at any time. No matter what they have going on in their life, with a portable smart device they can take a break and tune in to a live event. Someone who otherwise might not have participated can be drawn into the excitement simply because they logged on during a moment of boredom while experiencing some down time.
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