Most Charities, Religious Organisations, VWO's or NGO's will use the Traditional Auction as a way to raise additional funds when they are having a Fund Raising Dinner. A traditional auction is an auction where the highest bidder bids and wins a particular item. In this scenario, egos may get bruised as a result.
During a fund raising event, using traditional auction, 99% of the guests will refrain from taking part as most will think or feel they many not have the means to bid for the items on auction. This is not to say that traditional auction is 'Bad', it has its uses, however there is a different, more effective way to raise funds during a fund raising dinner and its called "REVERSE AUCTION"
This is where Reverse Auction is totally opposite to the traditional auction.
Reverse Auction is inclusive, whereby all individuals at the Fund Raising event, regardless of their financial status. can contribute to the cost of an Item that the Charity/VWO/NGO needs, as no amount donated will be deemed too little or too large.
Therefore, someone donating $10 will not feel their contribution pales in comparison to someone who donates $10.000/-.
By doing so, everyone present is able to do their part for charity.
The Charity/VWO/NGO will provide a list of items that they need.
Each Item will have a dollar value and the auctioneer (Craig), will get people to pledge and pay for these items in a group donation. The items on Reverse auction goes to the Charity/VWO/NGO.
Once the amount is reached, that particular item is taken off the block. No Cash is transacted at the fund raising Dinner
Eg: Item is Laptop that cost $1000/-.
Auctioneer starts the Reverse Auction bid and anyone can contribute to the cost of this laptop.
If someone donates $100/- the balance will be $900/- and so on till the $1,000/- is cleared.
Once the amount is reached, that particular item is taken off the block and proceed onto item 2 for bidding.
By pooling all available donors present to bid for a particular item as a group, their resources will help to provide the funds for the purchase of that particular item.
By doing so, all potential donors are able to pitch in and not feel left out, which is the case in a traditional auction.
Craig is the Founder of Reverse Auction and an expert auctioneer and he has helped many Churches/Charities/VWO raise over $100,000 and more within a 30min to 45min duration using Reverse Auction as the way.