Silent Auction Rules

Silent auction is a way to add revenue brook to an event therefore most of the non-profit companies with a fundraising event include a silent auction. A silent auction makes an event more profitable. It can also be considered a way of fun for event attendees. If you are interested in running a silent auction, you can get useful Tips to Run a Silent Auction from internet but aside this matter, running a successful silent auction is a meaningful task therefore understanding silent auction rules is vital for you to communicate well with auction participants. Major rule in a silent auction is that there should be a bid sheet to offer details about the item, minimum bid and bid increments. Bidders will write their bid number and bid amount on bid sheet given to them. Some general rules are:

• Auction rules specify age limit that bidders should be aged eighteen years or above. The bid is interrupted as a legal agreement between the auctioneer and bidder. It is essential for a bidder that he must purchase listed items at the indicated amount.
• Bidder’s name and bidding number must be written in provided bid sheet. Bidder must write his bid in an appropriate space. New bid must higher than the previous bid.
• Bids that are won must be settled by cash. Payments must be made in full.
• Bidder is not allowed to scratch out the bids in order to protect integrity of bidders.
• Winner of the auction is only one person who places highest bid within a specified time.
• One of other specified rules for a silent auction is that a bid sheet can not be detached from silent auction table.
• Bids must be augmented according to specifications that are given in bid sheet.
• Auction staff has right to determine the winner in case of any confliction that arises in identifying last valid bid for a particular item. Staff can also use possible and suitable alternate method of closing the item.

Above described auction rules emphasize that bid sheets must include all known or obvious contents and particulars of the items. If there is no possibility of displaying gift cards or certificates, it is advisable to display at least copies of such items. Mostly auctioneers offer trips and tour packages as these are most appealing silent auction items. In such cases, reservation for trips, bed and breakfast in hotels and ticket redemption must be equally arranged by contributor and the winning bidder.