Sealed bidding can help you combat fundraising fatigue at events and online, but how does it work? Guests will only see the number of bids that have been placed on an item, traditionally the highest bid is revealed. At the end of the auction the donor who submitted the highest bid wins the item.
If you have access to multiple versions of the same item (Givergy can help you get access) you can offer the auction items to under bidders to increase the money you raise for your cause. We advise that you let donors know that you are going to offer multiple versions of the item.
Why does sealed bidding encourage competitive bidding?
As mentioned above, the Givergy system will display the number of bids received on an item, but ‘seal’ the name and amount submitted by the highest bidder. When an item receives numerous bids, it encourages donors to increase their previous bid, which they can do as many times as they wish. We have the stats to prove it!
Our results show that guest participation increases by 9% when using sealed bidding
On average charity profit is increased by 166% when using sealed bidding
Sealed bidding is proving to be more successful then incremental bidding, auction items sold via sealed bidding raise 11% more than items sold via standard incremental bidding
How easy is it for donors to place a sealed bid?
We’ve spent a lot time to ensure that donors can submit a sealed bid easily and quickly. Check out these four steps that donors will follow intuitively.
You can use our sealed bidding feature at your event or online at no extra cost, get in touch to include this feature in your upcoming event or campaign!