Start with fair market value
Every item needs a documented fair market value (FMV). Donors need it for their records, and it is the number every opening bid and increment is built from.
Silent auction opening bids
Use the 30 to 40 percent guideline: open each item at 30 to 40 percent of its fair market value, then round to a clean number.
Example: 33 percent of a $100 item is $33. Open at $30 or $40.
Setting increments
Set increments so it takes five to ten bids to climb from the opening bid to 75 percent or more of fair market value. That creates a real back-and-forth between bidders while the value rises quickly.
Example: The $100 item that opens at $30 reaches its full value in seven $10 bids.
Keep increments round so the next bid is always obvious. Our silent auction bid sheet template has fields for the opening bid and increment.
Sorting and displaying items
Group items by category (sports, experiences, jewelry, pets) or by dollar value, and never place duplicates side by side. Give the space room to breathe, and make it bright and fun: a place guests want to be. Each year, look at which items underperformed and swap them for something new.
Closing the silent auction
Whether it closes before the program or stays open online all weekend, the closing should never compete with the live fundraising. Promote the closing time so guests know when their last chance to bid is. If any part of your auction is online, confirm there is strong cell service in the venue.
Live auction opening bids
In the live auction, your auctioneer sets the opening call in the moment and reads the room. Your job is to share each item’s value, and any minimum, privately and ahead of time. We do not advise publishing live item values to guests, because a printed value can cap bidding. (More on the live auction.)
Know your reserves
If an item has a hard cost, such as a consignment travel package, decide the minimum you can accept and tell your auctioneer before the event. Keep reserves private.
Common questions
What percentage of value should an opening bid be?
For silent auction items, 30 to 40 percent of fair market value, rounded to a clean number.
How big should bid increments be?
Big enough that five to ten bids take the item from its opening bid to 75 percent or more of fair market value.
Should live auction values be shown to guests?
No. Share them privately with your auctioneer. A published value can become a ceiling for bidders.
Planning a gala? Talk it through with us.
A free call with a benefit auctioneer who has run rooms like yours.