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An online auction is a fundraising event that places a number of items up for bid, but it does so over the Internet. The potential audience for an online auction is the entire world, so it is not limited to your immediate community of supporters.

Large Internet sites like eBay and cMarket, are leaders in providing online auction services.

Difficulty Level: High

The difficulty in managing an online auction comes mainly from the technical nature of the event. The person or the team in charge of the auction needs to have a high comfort level with operating in cyberspace. Many of the traditional tasks required by a live or silent auction do not apply in an online situation.

However, new challenges arise, such as how to properly market online, how to accept payment, how to present your item in a digital manner, how to set your pricing structure, and how to best ship the item to whomever wins the auction. Where a live or silent auction is done on the night of the actual event, the duties required in an online auction can extend over a period of weeks, when you factor in all the payment processing and shipping responsibilities.

Best Situation

Online auctions have the benefit of not being pinned to a particular time or place and they will never be tied to another event like a golf outing. Therefore, the best situation to hold an online auction is whenever you can get great items at low prices (or donated!) and when you have someone who is comfortable heading up your effort.

Income Potential

High. Whenever you open your auction to the world, your chances of making money increase. You will, however, lose various other forms of generating revenue, such as ticket sales, raffles, games of skill, or general donations. On the other hand, you will have very few expenses in the online situation.

Keys to Success

Do a great job of describing and presenting your items. You will be competing with other auctions around the world, so you need to make yours stand out. Also, do a strong marketing effort, so people within your own community know the times when and the web address where your auction is being held.

 

Additional Resources

cMarket online auction software - Designed especially for schools and non profits, this software makes running an online auction much easier.

Silent Auction Guide and Toolkit - ebook provides step by step instructions for planning a silent auction