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by Kimberly Reynolds Chinese auctions are very similar to silent auctions except they have a raffle component added to the mix. The bidding on items is done by ticket instead of by a written bid. In a Chinese auction, customers buy a number of tickets for a set price, then use the tickets to bid on the items on display by dropping them in a fishbowl next to the item. In a silent auction, they would just enter a bid amount on a form next to the donated item. Buyers are free to put as many tickets as they want in the fishbowl. At the close of the auction period, the winning ticket for each auction item is then drawn from the corresponding fishbowl. Obviously, the more tickets a person deposits in the bowl, the higher the percentage chance that they'll win the item. That means that highly desirable items will draw a lot of tickets, just as they would draw a lot of bids in regular auction. That's part of the big draw for a Chinese auction. Ticket costs are low compared to the ultimate value of the auction items, so lucky winners will get a great deal. And having lots of ticket buyers means your group will do very well! Three types of Chinese auctions
Auction profit tips
Summary A Chinese auction is a great way to get extra profits out of donated goods and services. Obviously, the more items you have up for grabs, the more tickets you'll sell and the more funds you'll raise. Try one at your next fundraising event and you'll be pleasantly surprised! About the Author:
Kimberly Reynolds writes for national publications about youth sports fundraisers, having a fundraiser using a Chinese Auction and other fundraising events. Find more school fundraiser ideas on her website, FundraiserHelp.com
There is a movement trying to take the name "Chinese Auction" and make it more politically correct by renaming it "Pick-a-Prize" auction. Just a heads up on that! The name "Tricky Tray" is also sometimes used instead of Chinese Auction.
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