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Silent Auction Bid Slip Silent Auction Bid Slip Silent Auction Bid Slip ... 2025

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The document consists of multiple Silent Auction Bid Slips, each requiring information on the group number, item number, and bid amount. It also mentions that the initiative 'KIDS' QUEST: MAKING CHANGE REALLY COUNTS' is partially funded by 'WHAT'S UP IN FINANCE?' through the Moody's Foundation.

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Click ‘Get Form’ to open the Silent Auction Bid Slip in the editor.
Locate the 'Group#' field at the top of the form. Enter your designated group number to identify your bidding team.
Next, find the 'Item#' section. Input the corresponding item number for the auction item you wish to bid on.
In the 'Bid $' field, clearly state your bid amount. Ensure that this figure reflects your intended offer for the item.
Repeat steps 2 through 4 for each additional Silent Auction Bid Slip as needed, ensuring all information is accurate and complete.

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What is the rule of thumb for silent auction?

The general rule of thumb is to set your starting bid at 30-50% of an items FMV. Bid Increments, which influence the auctions pace and excitement. Best practice is to set your bid increments at 10% of an items FMV. Consider going up to 15% for popular, high-ticket items.

What is the best starting bid for a silent auction?

While the general rule is to set starting bids at 30-50% of FMV, popular, high-demand items are the exception. These items often drive significant revenue, so setting a higher minimum bid of 40-50% of FMV is ideal to capitalize on their excitement.

What is the auction pricing strategy?

Auction pricing is a dynamic pricing model where the final price of a product or service is determined through customer bids in an auction process. It is commonly used for items with limited supply and variable demand, such as antiques, collectibles, art, and online advertising space.

How should you price silent auction items?

Estimate and list the fair market value (FMV) for each item. Any money paid over that is considered a charitable contribution and is tax-deductible. Set each items starting bid at approximately 30-50% of its FMV. Include both the FMV and starting bid in your silent auction item descriptions.

What sells best at silent auctions?

Car maintenance, lawn care, interior home painting, anything like that which everyone needs at some point or another is a great item because it generates interest in the bidders and if you have local people who do these things it can help support them/bring in new business which is a win win!

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What are the basic rules for a silent auction?

All sales final: All sales are final, there are no exchanges or refunds, and all items are sold as is. Limits may apply: Bidders are responsible for handling any restrictions that may come with items. For example, gift cards or certificates may be subject to availability and black-out dates.

What is the difference between a silent auction and an auction?

Live auction: An auctioneer (preferably a professional) is at the helm, and people in a live audience call out or otherwise indicate their bids. The highest bidder wins. Silent auction: Participants at an in-person event write bids on sheets of paper placed next to displays of the items up for auction.

Silent Auction Bid Slip Silent Auction Bid Slip Silent Auction Bid Slip ... 2025

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Got questions?

What is the rule of thumb for silent auction?

What is the best starting bid for a silent auction?

What is the auction pricing strategy?

How should you price silent auction items?

What sells best at silent auctions?

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What are the basic rules for a silent auction?

What is the difference between a silent auction and an auction?

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