A silent auction is an event at which items for sale are displayed for attendees to assess, place bids on, and purchase. However, unlike most auctions, there is no auctioneer present, and participants place their bids silently and anonymously on a bid sheet using a bidding number—hence the name silent auction.
This is something of a hybrid between a raffle and an auction, most commonly organised by fundraisers. Participants buy or win tickets that give them the opportunity to bid on items. When the auction comes to an end, the winning bid is chosen at random. … The winning bidder pays whatever amount they bid.
Moreover, How much do Chinese auction tickets sell for?
On the day of the event, ticket prices will increase to 1 for $2, 3 for $5, 7 for $10, 16 for $20 and 1 ticket in every bucket for $50. Pre-Sale will be an incentive for those teams who donate many items and/or have high value items. It will encourage teams sell tickets which will only raise more money.
Secondly, What is a Chinese raffle?
What is a Chinese Raffle? Many people also refer to this type of raffle as a Chinese auction, basket auction, penny (or nickel, or quarter) auction. It’s a fundraising event in which participants purchase small tickets that they can submit to win a variety of prizes.
Simply so, How do you do a online basket raffle?
With an online Basket Raffle, there are an assortment of prizes. You purchase a number of tickets and then you add those tickets to the various prize baskets you are interested in entering. This is part of where the Chinese Auction name comes in. You are basically bidding with your tickets for that prize.
What’s the difference between a drawing and a raffle?
As nouns the difference between drawing and raffle is that drawing is a picture, likeness, diagram or representation, usually drawn on paper while raffle is a drawing, often held as a fundraiser, in which tickets or chances are sold to win a prize.
23 Related Question Answers Found
Should you put a value on silent auction items?
Silent auctions These items are more likely to be tangible goods, and less likely to have a priceless, one-of-a-kind component (though many certainly do). Our take: In most cases, skip the retail values and pre-populate bid sheets with good, reasonable minimum bid amounts instead.
How many items should you have at a silent auction?
A rule of thumb is to offer 1 to 1.5 items per bidder. This is the amount of product that provides enough scarcity to drive up bidding. To determine how many bidders to expect, analyze your audience.
Why is it called a Chinese raffle?
“Chinese auction” is also known as a “penny raffle” or “chance auction.” At the time, Chinese laborers were paid low wages, and Chinese came to mean “cheap” in American slang. Because the raffle tickets are inexpensive, perhaps this led to the characterization “Chinese auction.”Mar 12, 2006
Do you put value on silent auction items?
Silent auctions These items are more likely to be tangible goods, and less likely to have a priceless, one-of-a-kind component (though many certainly do). Our take: In most cases, skip the retail values and pre-populate bid sheets with good, reasonable minimum bid amounts instead.
What can I do instead of a raffle?
– Ticket Upgrades.
– 50/50 Raffle.
– Gift Card Frenzy.
– Wine Tree (or Wheelbarrow, Cork Pull, Bingo etc.)
– Purse Prize Raffle.
– Golden Ticket.
– Blue Line Raffle.
– Silent Auction Raffle.
How does a Chinese auction work?
A Chinese auction is essentially the combination of a silent auction and a raffle. Rather than having bid sheets, bidders buy tickets and use those to bid for prizes. The more you want something, the more tickets you put in the jar to increase your odds of winning.
How are raffle ticket prices calculated?
Typical ticket prices are $1, $5, or $10 depending on the makeup of your group. The most common price is one ticket for $1. So here it is in a nutshell: Sell the raffle tickets and collect the money. Add up the amount you have collected and divide it in half.
What is the difference between a live and silent auction?
Live auctions require an auctioneer who will engage attendees and encourage guests to call out bids. Silent auctions, on the other hand, are more passive; attendees write their bids on pieces of paper or do the bidding electronically. During the action, attendees continually check to see if they’ve been outbid.
How does a silent auction work online?
An online silent auction allows donors to bid directly from their mobile phones, tablets, or computers. The auctioneer then reviews each bid and awards the item to the highest bidder. This auction format is ideal for events where the organization hopes to sell many things in a compressed time frame.
What is a good price to sell raffle tickets?
Try to find items for the raffle that are large enough that you can sell raffle tickets for at least $5 / ea. I like to be able to offer tickets for either $5 each / 3 for $12, or $10 each / 3 for $25. Some high-end raffles may feature tickets in the $25 – $100 range.
How do you maximize raffle ticket sales?
Secondly, everyone wants to buy raffle tickets for items that are in demand and popular, targeted for families, and/or save individuals money. The following prizes will encourage and stimulate ticket sales: movie tickets, restaurant gift certificates, hotel resort stays, local landmarks such as zoos or museums, etc.
What items sell best at silent auctions?
– Travel. Travel-related silent auction items are always a huge hit.
– Outings and Experiences.
– Sports Tickets, Memorabilia, and Activities.
– Music.
– Food.
Last Updated: 10 days ago – Co-authors : 13 – Users : 6
