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TOPIC: Silent auction pricing ?





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london713

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Silent auction pricing ?

2 Years, 7 Months ago
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Hello again

When you do a silent auction do you list the retail price of the items? In the past we start the items at 50% of the retail value but also list what the retail value is. I will be working on this event this year and have been wondering if this if the way to go. I wonder if people won't bid above the retail. Thanks for the help!

London
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kimamas

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RE: Silent auction pricing ?

2 Years, 7 Months ago


  
50% sounds like a good starting point.
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london713

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RE: Silent auction pricing ?

2 Years, 7 Months ago


  
but do you list the actual retail value on the bidding sheet?
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mconnery

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RE: Silent auction pricing ?

2 Years, 7 Months ago


  
We list the retail value (or an approximate value if it's not known for sure) on the bid sheets. We also generally do starting bids at 50% but for some items that we know will be more popular (such as American Girl dolls, Wii, etc), we might start it even higher than 50%. Most of our items go for at least their retail value, with the majority being above retail.
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desertangel

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RE: Silent auction pricing ?

2 Years, 7 Months ago


  
In the past, in addition to a minimum bid, we noted a minimum incremental bid. Not that you would necessarily have a problem, but this avoids people outbidding the person before them by a penny.
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kimamas

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RE: Silent auction pricing ?

2 Years, 7 Months ago


  
YES, definately list the retail value.
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