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Charities can host online auctions to raise funds, listing items on a website for backers to bid on. Companies can also offer online hosting for a fee. Auction items can include gift baskets, services, and valuable goods. Online auctions can reach more bidders and raise more funds for the charity’s cause.
Charities often run fundraising activities, such as auctions, where donated goods are sold to raise money for the organization’s cause. As an alternative to a traditional auction, a charity can host an online auction fundraiser, in which the charity lists available items on a website and backers bid through the website instead of having to visit the charity or auction house in person. While the charity can host the auction on its own private website, several companies offer online hosting to raise funds for the auction, but the charity will have to pay the company a fee for the service. Holding an auction online helps the charity reach more potential bidders.
In many situations, an online auction fundraiser begins by collecting different items to offer for auction. For example, the organization might put together gift baskets to auction or receive donations of valuable goods. Sometimes the charity’s patrons will auction off their services, such as photography, hairstyling, and grooming. These items are offered at an initial offer, which is the lowest price the charity will accept for the item.
After obtaining the auction items, the organization will post these items online, along with the auction date. For example, a charity may decide to hold the auction for one night only, but allow buyers to view available items in advance, or the charity may decide to hold an open auction where customers can bid on items up to a certain date. The charity can host the auction on its own website or start a website specifically for the auction.
A number of companies host online fundraising events on behalf of different charities. The company develops the online auction site, collects customer bids, and ends the auction by delivering the names and addresses of the auction winners to the charity or by shipping the auction items directly to the winners. This option can work well for charities that don’t have their own website or don’t have the technical skills to run an online auction fundraiser. However, the company retains a portion of the proceeds earned from the auction.
Having an online auction fundraiser can help a charity reach more potential bidders than it would by hosting the auction at a specific location. Reaching more bidders gives the organization a greater opportunity to auction more items and achieve a higher bidding price. The more offers a charity receives, the more funds it can raise for its cause.
Smart Asset.
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