“The number 2 big money maker”
If you are wondering how some groups are raising $100,000 to $300,000 with their golf tournaments, it is because of their auction. It is very hard to make that kind of money with a golf tournament alone. Unless you have a Pro-Am or Celebrity Am with major sponsors and/or television, it is very difficult to raise big money. Auctions are the key to getting there. In many cases Auctions will make more money than the golf tournament if they are done right.
Why Auctions with Golf Tournaments?
I know that auctions are very popular and many groups will host their auction with other functions. So why have an auction with your golf tournament? The main reason is that it gives men the opportunity to shop. You see, men don’t shop. They definitely don’t shop for Sports Memorabilia. Auctions give men the opportunity to buy stuff that they would not normally buy.
Plus auctions are a great mixer and time filler. You see many of your golfers will finish their rounds earlier than others. By hosting an auction you will give your golfers something to do so they won’t leave early and they will get a chance to mingle and get to know each other.
Most importantly auctions can generate big money. Handled properly you can take your event to the next level and raise major funds.
Acquiring Auction Items
The key to big money with auctions is big items. It is important to have many smaller items to fit everyone’s budget but the key is getting big items that people want. Some of the popular auction items include: Sports Memorabilia, Trips, Appliances, Jewelry and rounds of golf. There are 4 main ways to get items for your auction.
#1. Get Items Donated. Obtaining items for your auctions is just like selling sponsors. You must contact companies that know you and/or have a passion for what your organization is trying to accomplish. You must offer these companies something in exchange. They all want more business, so if there is way that you can offer them additional business, exposure and marketing, they are more likely to give you bigger and better stuff. Just remember that they get many requests every week.
#2. Buy Them. You can buy items at wholesale and sell them at retail and double your money. Many manufactures will sell you items from their warehouse and just need to cover their cost. But remember you must have a good cause.
#3. Packaging. Putting separate items together in packages. They have more value. For example if you get hotel rooms and golf donated, buy an airline ticket and put them together in a package. It will sell for more.
#4. Auction Companies. There are now companies that will give you Sports Memorabilia on consignment. This is at no risk to you. They will ship it to you at no charge. There will be a minimum bid on the item. Whatever money you get over the minimum bid, you will get to keep. This is a win-win for you. There is no risk. If you don’t sell it you just send it back.
The key to successful auctions are good items. Take the time to make your auction a priority. Have an Auction Chairman that focuses on the auction and makes it successful.
Tips to Remember
Having great items for your auction is the beginning, but there are a few things to remember to ensure your success. When doing an auction keep in mind these helpful tips.
Start in Advance – Post your auction on your web site and promote it to others.
Non golfers may bid and win.
Have a Professional Auctioneer – They make the evening fun.
Accept Credit Cards – People will spend more.
Collect Money That Night if Possible – Hard to collect after.
Get Buyers Contact Information – Follow up with thank you letters.
Don’t have too many small and unwanted items – People will get bored.
Serve cocktails and food during silent auction – They will mingle and spend more.
End the evening with a live auction with the most valuable items – People will stay for the whole evening.
100 items or more, bring in an auction company – They will pay for themselves with the time you will save.
Invite Other People – Others would love to participate in your auction if you invite them to come.
Auctions can add a whole new dimension to your event. They are fun and your participants and they will love them if they are organized and the items are worth bidding. Take your event to the next level with Auctions.
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