Silent auctions are a way of disposing of auction items without
employing the services of an auctioneer - one of the main
reasons silent auctions are popular as charity and
organizational fundraisers. Here's how it works.
The items to be auctioned are put on display. For example, a
chamber of commerce may have solicited goods and services from
people in the community for sale at an annual chamber banquet or
other event. If you're interested, you simply browse through the
offerings. Find something you like? Bidding is easy. You just
pick up a pen and write down your name along with what you'd pay
for that item
The point is that you're not bidding "in the dark" like sealed
bid auctions. In that case, you submit your bid in writing in a
sealed envelope. The envelope is opened and the highest (or
lowest, as the case may be) bidder is notified. But in silent
auctions, you have the opportunity to see what someone else bid
on a particular item. Often, you can even see who submitted that
bid, though some silent auctions assign numbers for your bidding
to ensure anonymity.
If you enjoy auctions, there are some real pros and some cons to
silent auctions. One of the biggest pros is that there's no need
to stand around and wait for the item you're interested in to
come around - a process that sometimes takes hours. Instead of
waiting until the auctioneer comes to that item, you can just
walk around and bid on whatever catches your eye.
If you think that the excitement of bidding against another
bidder is absent from silent auctions, think again. The bidding
can sometimes become fierce with several people "guarding" the
item they are bidding on to watch for opposing bidders. When
that happens, the people who are most interested in the item may
get into a "silent" bidding war, just as in a traditional
auction. One will barely wait for another to move before placing
a new bid.
One negative of the silent auctions is that you have to watch an
item you're interested in. Typically, there will be a notice
that the auction is about to draw to a close so that you have
one last chance to check the status of your bids, and to make
one last bid.
Another negative is that it's more difficult to make small
increment bids that really count. The best way to scare off
other bidders and potential bidders is to simply make a large
jump in your bid amount.
Silent auctions can be a good way to raise money, and can be
incredibly fun for the bidder.
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Silent Auction
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tion.info.
