N2N Mags Dad
New member
Is it a 1-shot sealed-bid? Or does it go multiple rounds? Just wondering!
How does a silent auction work?
- Thread starter N2N Mags Dad
- Start date
It usually is just a sheet of paper sitting out next to the item. There is a minimum opening bid & you put your name down next to that price. If anyone else wants to bid on it there are lines below the opening bid marked off in whatever the minimum bid raise is ($1, $5, etc). Say you wanted something that them opening was $25 so you write your name on that line. If I wanted it also I could put my name under yours on the $30 line (assuming a $5 bid increment). Someone else could come along & outbid me by placing their name on the $35 line. Or if you REALLY wanted it, you could start it off by skipping the lesser dollar amounts & put the first bid on the $50 line & take it from there. Usually there is a set time limit for people to wander up & place their bids. Once the time is up the sheets are collected & the winners get to pay.
One bad thing about it is that if you bid on multiple items you could wind up winning them all. Because all the items close at once you can't (like at a regular auction) win an item & then decide to sit out the rest because your budget just went to that one item.
Hope that you can decipher that.
Greg
One bad thing about it is that if you bid on multiple items you could wind up winning them all. Because all the items close at once you can't (like at a regular auction) win an item & then decide to sit out the rest because your budget just went to that one item.
Hope that you can decipher that.
Greg
Annie Milliron
Alpha Goddess
Having watched him and Colleen partake in a silent auction at an SCNC function, all I can say is... Greg knows exactly what he's talking about!!!! 