Auction Procurement Mastery

I wish I could direct you to a web link or a 2-step process that would take away the hard work associated with auction procurement; unfortunately, there is no ‘easy’ solution.

However, by setting clear goals, creating a solid plan and employing the following proven strategies, you will make efforts more effective and more manageable, ultimately making you more money with less stress. These are the steps used by those who have mastered the process of auction item procurement.

1. Start Early – The best time to start planning next year is BEFORE this year’s event. Clear record keeping and next year’s chair serving as this year’s co-chair will allow next year’s team an easy transition with no loss of momentum
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2. Nurture your Donors – Between thanking donors for last year’s contributions and asking for next year’s, be sure to communicate what was accomplished with the monies they helped you raise, including the difference they helped make in the lives of others.

3. Clarify the value donors will receive – Be sure your entire team can articulate your organization’s purpose clearly. Also, make certain you can illustrate in which ways you will expose your donors’ information to your audience (i.e. website, event program, signage, etc.)

4. Know your audience – Take the time to understand who your audience will be and what they like to purchase by reviewing the previous year’s sales data and bidding habits.

5. Create a Procurement Wish List – The more specific the wish list is, the better. “Travel packages” may not inspire action. However, “Accommodations in Napa Valley” may capture the attention of the person with access to a guest home there. Distribute the wish list to board members, committees, staff and any other interested and vested individuals.

6. Send an Ask Letter – Prepare an “Ask Letter” that communicates your purpose, restates your previous year accomplishments and makes specific requests (consider including your wish list). Send these letters out far enough in advance that organizations can include your event in their annual allocation of donations.

7. Build a Procurement Team – Use your goals to establish clear, reasonable and manageable expectations for your team. Consider a 100 item procurement goal. With a 10 person team, each member would only need to procure 10 items to achieve success. With 10 months advanced planning, this equates to one item per person, per month. With 5 months advanced planning, this equates to two items per person, per month.

8. Hold Brainstorming Sessions – Hold meetings specifically for procurement brainstorming. Keep them fun, interactive and creative. Invite procurement team members, as well as board members, staff and any other interested or vested individuals. Help people in attendance to “connect the dots” between themselves and the items you have targeted for procurement.

9. Create Auction Items – Some of the best items sold at events are those generated out of the organization or the organization’s board members. Here are a few examples: A reserved parking space, A wine dinner at the home of a respected board member, Principal for a Day (at a school), A wine collector’s dream – created with the donation of 1-2 high end bottles from each member of a board, etc..

10. Consider Consignments– When considering consignments, though, consider how guests might feel about bidding on items for which monies raised will be shared with a third party…and be certain to disclose the fact. Also, limit consignments to items that have a profit margin greater than the cost of the item. With these factors in mind, consignments can be a great way to fill holes in the live auction or to supplement entire silent auction categories (i.e. jewelry, sports memorabilia, etc.).

11. End Early – Nobody likes to turn down items which may turn into dollars. However, last minute donations can play havoc on planning and put unnecessary pressure on a committee. When following the above tips, you can confidently set a procurement deadline far enough prior to the event. Simply plant the deadline date in everyone’s mind from day one, as opposed to the event date.