Five Tips for Online Auctions

Additionally, experience demonstrates that putting on a live auction concurrent with your virtual event can generate greater interest in the items up for bid and has proven to significantly increase an organization’s financial results.

2. Sponsorship

Sponsorship should not be underestimated, both as a way to generate publicity for your online event and revenue for your organization. It can be an incredible boon for your organization, cMarket says, with the average spot on a nonprofit’s homepage bringing in around $1,000 and the average auction revenue generated coming to more than $5,200. Don’t be shy about acquiring multiple sponsors for your auction, and understand that many businesses in your area could benefit greatly from the exposure your event likely would give them.