Five Tips for Online Auctions

1. Planning

Solid planning is crucial for a successful online auction. Know what you’re trying to accomplish with the event — whether you’re raising money to meet specific or general needs — and the amount of money you need to raise to get there. cMarket emphasizes the importance of bidders knowing where the money raised will go and suggests establishing a theme to the auction — “Library Lollapalooza,” for example — that will pique the interest of constituents and potential bidders.