A reverse auction fundraiser is one where the last name or number called is the winner instead of the first. A reverse auction can be organized in several different ways. At a recent event I attended, auction organizers were raffling off an iPod Touch. Tickets, which were actually large playing cards that were strung on a ribbon so it could be worn around the neck, were $20.00 apiece. The odds were pretty favorable, with only 52 chances sold (54 if you count the Jokers). At intervals throughout the event, the master of ceremonies would announce ten numbers – if your card was called, you were out! The card that remained after all the others were drawn was the winner of the iPod. Assuming the prize was a donated item, the reverse auction added a quick $1,000 to the funds raised through the silent auction and live auction conducted at this event.
– Adjust the cost of the ticket to the value of the prize
– Consider a cash prize – a percentage of the ticket sales
– Use two-part tickets so you don’t limit the number you can sell
– Give away runner-up prizes at intervals (i.e. every 10th number)
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