A silent auction bid sheet template is a piece of paper on which bids are recorded during a silent auction. The silent auction occurs in charity events where there are several items for auctioning. It is known as a silent auction because there is no auctioneer who sells his own items. In charity auctions, the bid sheet contains;
- An amount quoted which is fixed
- Bid increments which are predetermined
- A guaranteed bid is an amount that works close to buy now cash.
Now, most non-profit events have moved to silent auction. In such a type of auction, the bidders don’t know about the highest bid because of no auctioneer. The bidding is done privately on the silent auction bid sheet. Furthermore, when the bids are finalized, the person who bids the highest pays for it and gets the payment.
Overview of Silent Auctions:
The silent auctions do not have an auctioneer in the fundraising, therefore, they are considered silent. It is considered silent in comparison to the typical auctions due to a lot of noise and chatter in the surroundings. There is no auctioneer in these types of auctions so the bidders do not really know about the highest bid.
The sheets are set on the tables or on the clipboard to conduct the bidding in the silent auction. It’s up to you whether you bid on multiple items at once or a single one. When the bids are written, they are examined and assessed. After that, the person pays for it who bid the highest for any of the items and gets the payment.
Additionally, when the item is of high value then the bid of the items is set at a minimum. The silent auction bid sheet covers the names and bid sections. It is placed on the table so that people tour the different items available for auction. The bid sheet also contains the previous bids by people. In the silent auction, the bids of other people are kept private.
People use small sheets for bids and then deposit them in the box. Those bids are calculated by the end of the auction. The item is won by the highest bidder for the price they have offered. In case, the silent auction is performed for the charity event, the bidding time is of a specific period.
Things that would be helpful to get started with the silent auctions:
There are some things that would be helpful to get started with the silent auctions;
Item representation:
To start the silent auction the first thing is to display the items in an organized manner. As there is no auctioneer so someone has to look after the representation of the items. You should make sure that the item representation is attractive, looks desirable, and appealing to the audience. In addition, select the location, lighting, and stages wisely.
Desirable items:
The audience will surely be interested in the valuable items. These valuable items also help you to get the maximum possible revenue from the auction.
Bid sheets:
The bid sheets include detailed information such as;
- Name of the item
- Value
- Short description
- Minimum bid amount
- Spaces for the people to write down the names and bids.
Volunteers:
Silent auctions have no auctioneer so they need well-trained volunteers for inventory management, auction set-up, soliciting for items, and checking out so that the whole event runs smoothly.
Auction monitors:
Likewise volunteers the auction monitors should be well-trained and experienced, and their task is to keep a strict check and eye on the items and bid sheets. These monitors make sure that either or not the guests are following the auction and bidding rules.
Items should be included in the silent auction bid sheet:
The silent auction bid sheet should contain the following items;
Organization’s name:
At first, all sheets contain the name of your organization and the event’s logo so that the donors know about the supporting party. Additionally, you can also add information about where your money will be going and how it will help you.
Item tracing number:
The bid sheet also contains the item tracking number along with the name and logo of the organization. The tracking number makes the whole process of auction smooth for both the donor and the committee. Once the bids are written, the winning bidders need to know about the item tracking number. During the checkout process, the winning bidders can see it.
The title and description:
The first and foremost thing that the guests notice on the bid sheet is the title. Your title should be clear, bold, and concise. Makes sure that the title you are providing is catchy.
Next, there comes a detailed description of the item. The descriptive paragraph should be creative and brief. The paragraph includes exclusion, location, expiration dates, price caps, etc of the item. If there are different items then you have to include descriptions and details for all the items. Also, it’s up to you to use a separate sheet if you want to include too much information.
Donor recognition:
It is better for you to recognize the donors such as the companies and organizations who have donated items to you. The donors will be grateful if they find their company’s name and logo on the bid sheets. Moreover, donor recognition assists you in getting more donors in the future.
Pricing of the items:
Here you have to determine the retail value. Mention the minimum bid increment and starting bid in the bid sheet. If you pre-fill the bid sheet then the guests just have to write their bid number and name. In this way, they can also ignore the bid increment.
Bidding rows:
When many people want to bid then you have to add more rows to the bid sheet. But it doesn’t look desirable to add more rows. It is wise to add not more than 15 rows. However, the number of rows in the bid sheet depends on the attendees present in the auction.
How to price items in a silent auction?
You or your clients during a silent auction write down their bids on a document referred to as a silent auction bid sheet. The bidder with the highest bid gets the item when the silent auction ends. A lot of time and careful thought require while planning a silent auction. Here are some tips for you;
- Your starting bid for donated items should be at least 30% of the item’s fair market value.
- Your starting bid for consignment items has to be at least 10% more than the item’s cost to the charity.
- It is best to provide a low starting bid for priceless items. This way, your clients can first develop an emotional connection before they bid. They can make a bid after determining the item’s value.
Some tips for making your bid sheet:
A critical step in executing a successful event is providing your guests with the best tools at your silent auction. A key component to a smooth and efficient bidding process is silent auction bid sheets. Consider the following tips for making your bid sheet;
- With your other event materials and silent auction items, you should keep your silent auction bid sheets themed. Include the colors and imagery of your event to make them attractive. If you have your event tagline or logo then you should include them.
- Keep in mind that all of your guests don’t have accurate eyesight and the lighting in the room. So, make use of large and easy-to-read fonts. Don’t use any formatting that makes the text difficult to read.
- You should ensure that any guidelines for bidding are clearly stated on the bid sheet as well as specify the bidding ends and starts time.
- To guide your bidders, always specify a minimum bid and a guaranteed purchase price. The guaranteed purchase price must be 150% of the value of the item as per the general rule.
- Don’t forget to mention your charity auction items and the bid sheets so that they are easily approachable in case they are moved, switched, or lost.
Do’s of a silent auction and bid sheets:
- For registration and signing up all the bidders make sure you have a desk.
- Allows your mobile bidding from the cell phone.
- The silent auction items must be spread into color-coded sections.
- Next, use a bid sheet that begins at least from forty percent of the market value.
- If you want that the guests can take the items so include it now price in the bid sheet.
- You should include a bid increment of 10% Fair Market Value (FMV).
- Makes sure that there is a lot of reading glasses and working pens.
Don’ts of a silent auction and bid sheets:
- Don’t put everything on the few tables because it looks awkward or crowded.
- Don’t arrange an auction in a congested place. There must be plenty of space so that the guests can move around every corner easily.
- Never put the bid sheets on the clipboard, makes it easy for writing.
- Most importantly, don’t use a colored paper for making bid sheets because it matches the section color theme.
Conclusion:
In conclusion, silent auction bid sheets are important for silent auctions and really matters for the bidders because they enable you to track the bids more effectively. You can also download bid sheets from bestcollections.org. These printable bid sheets will save your time that you would have spent making one.
