| s are excellent tools for diversifying funding streams | | | | roles in a successful auction. Their Website is a |
| for nonprofit development professionals. The | | | | valuable source of fundraising auction tips. |
| emergence of ubiquitous online access have made | | | | ************************************ |
| online auctions an excellent vehicle for nonprofits and | | | | Setting low starting bid prices creates the need for a |
| charities to raise funds while engaging stakeholders | | | | reserve price. A reserve price is the absolute lowest |
| and other consituencies in their causes. eBay, the | | | | price that you want to get for your item. You may |
| leader platform for online auctions also provides a | | | | sell the item below the reserve price, but you will not |
| number of offerings for running nonprofit auctions. | | | | be required to. In other words, if you set your |
| Running a charity auction on eBay is simple, but | | | | reserve price at $100, and your highest bid is only |
| getting the most from your efforts involves | | | | $50, you do not have to sell the item to the highest |
| developing a strategy and understanding the ins and | | | | bidder. You can close the auction without any |
| outs of eBay. Luckily eBay provides lots of | | | | negative feedback or repercussions. Set your |
| information on how to be successful using their | | | | reserve price at the absolute lowest price you are |
| services. | | | | willing to sell your item for. Keep what the item is |
| One of the critical factors in a successful auction is | | | | worth, as well as what it cost you in mind. |
| setting the right starting price. | | | | The buy it now option will allow you to set a price, |
| Many new sellers don't realize how important pricing is | | | | and buyers can buy the item immediately, without |
| when it comes to eBay auctions. Many don't even | | | | bidding, for that set price. This option can be used |
| realize that pricing needs to be done. eBay is an | | | | for any type of item, and it should be set to match |
| auction site after all! But eBay auctions are not quite | | | | your reserve, give or take a few dollars. This option |
| the same as the auctions you attend in the offline | | | | is great if you have multiple identical items to sell. |
| world. In fact, quite a bit of work goes into | | | | Shipping has a price, and potential buyers take this |
| determining and setting prices. | | | | into consideration when they are looking at an |
| Essentially, there are only three prices that can be | | | | auction. If you can see your way clear to offer free |
| set for an eBay auction: the "buy it now" price, the | | | | shipping, you will find that people are placing more |
| reserve price, and the starting bid price. Of these | | | | bids. Make sure that your potential buyers realize that |
| three, the starting bid price is the only one that is | | | | you are offering free shipping! |
| required for an eBay auction. The reserve price and | | | | Before setting any prices, you need to determine |
| the buy it now price are optional. The starting bid | | | | what the item is really worth. The value of the item |
| price is fairly simple - never set it higher than $50 or | | | | in different markets might be quite high. However, |
| so - no matter what your item is really worth. This | | | | you are selling on eBay, and it is a different world |
| low opening price will get bidders to your auction. | | | | altogether! Find out the price that similar items soldfor |
| ************************************ | | | | on eBay before setting any prices. If it is a |
| In addition to eBay, other vendors offer vehicles for | | | | collectable, or a high ticket item, have the item |
| nonprofits to run fundraising auctions. CMarket - | | | | evaluated to ensure that you aren't going to lose |
| offers services emphasizing the importance of | | | | money! |
| bidders, donors and sponsors, and their respective | | | | |