Promises Auction
A promises auction can be great fun. They can be very social events and are often part of evening with a meal.
For a promises auction to work there needs to be two groups of people. The first group offer a promise of providing goods or services for sale. The second group of people are those who actually participate in an auction to buy these goods and services being offered.
The people offering the goods and services do not need to be at the actual auction. They are promoting themselves by providing the goods and services. It is critical to the event that the items available for the auction are good quality and are likely to be wanted by enough people to get them bidding the sale price up!
The people at the auction need to have purchased a ticket in order to attend. The ticket cost should cover the food, drink and the cost of the room in which the event is held. A small profit could be made from the ticket price but the price has to be pitched at the people whom you want to attend. You want them to spend a lot of money at the auction, so setting the ticket cost too high may reduce the amount of money spent in the auction!
The choice of auctioneer for the event is critical. A good auctioneer will make the difference between a good everning and a successful evening. They will be able to encourage people to dig deep in their pockets to buy the goods and services being auctioned.