If you’re looking to raise funds for your organization, a quarter auction can be a great way of doing so.
It can be better than many other types of fundraisers as the event provides your group with several different income streams at the same time.
It’s also popular with attendees as they have a fun time at the event, while local businesses get to promote their products and services in an environment where people are receptive to what they have to say. This makes everyone keen on being involved with a quarter auction year after year.
Here are some of the different ways in which you can use the auction to fundraise:
At the entrance, attendees purchase a paddle which they’ll use to bid for items throughout the auction.
The charge can be however much you like, but we’d generally recommend setting the price at $1 – $5.
Give attendees the option to buy additional paddles in case they want to bid more than once on an item to have a greater chance of winning it.
There are a few ways you can price this:
- Charge the same amount as the initial paddle
- If the initial paddle only costs $1, charge more for the second and subsequent paddles
- If the initial paddle costs $5, only charge $1 or $2 for additional paddles in order to encourage people to purchase further ones and make them feel like they’re getting a great deal
Provide tables for direct sales vendors and businesses to display their products or information about their services before the auction begins if they wish to do so.
You can charge them $10 – $20 for a table.
Needless to say, the auction itself will raise funds as people bid their quarters on the items that have been donated.
If people have purchased more than one paddle, there’s a good chance they’ll be placing more than one bid on some items, raising additional money for your organization.
Provide snacks and beverages for people to buy before (and possibly during) the auction, as this can be a great moneymaker.
For example, a case of 24 bottles of water might cost $3. Sell each bottle for $1 and you’ll make $21 profit per case. If you sell hot dogs, it might cost you $0.50 for each hot dog, bun and condiments, but you could sell them for $2 each, resulting in a profit of $1.50 on each one.
Once the auction’s finished, people will probably have several quarters left over. Before they leave, ask them if they’d be willing to donate their additional quarters in a bucket by the exit.
Now that you’ve found out the different ways you can fundraise using a quarter auction, check out our guide explaining how to plan one.