Creating Silent Auction Bid Sheets: The Things You Need to Know

While the term "auction" likely conjures up images of rooms packed with people holding numbered paddles and bidding on antiques, tools like BetterWorld are revolutionizing auction and their money-making potential. Learn more about how we can help you make the most of your next auction by signing up for free at BetterWorld today!

Silent auctions are an exciting and lucrative way for nonprofits and other businesses to raise funds. Here are the most important things you need to know to get started.

What is a Silent Auction?

Silent auctions allow individuals to place bids on items they want to purchase. When conducted in person, the various goods available for bidding are on display for potential buyers. As interest increases in each item, the bidders will revisit and hopefully bid again and again! A silent auction bid sheet is available for each item, allowing those perusing the biddable goods to note the amount of their bid.

There are many benefits of a silent auction that rival the traditional counterpart.

It goes quickly!

Unlike a traditional auction that allows bidders to focus on one item at a time, a silent auction takes place all at once, which means multiple bidders can place simultaneous bids on the various silent auction forms. Competitive items will draw the attention of numerous bidders and drive up the amount collected, helping you increase funds!

Modest bidders can remain unnamed throughout the process!

Silent auction bid sheets provide greater anonymity for those who wish to bid. Since the focus is on multiple items with simultaneous bidders, there is less pressure to highlight the bidder. In addition, the use of assigned numbers to registered participants gives the process an extra layer of discretion.

Everything happens virtually!

While some use silent auctions as an excuse to throw a giant party, many online platforms can help you host a virtual auction, which allows for a bigger audience and a more straightforward setup process. Check out BetterWorld's tools to learn more about the types of virtual silent auctions available and how we can make the process as easy as possible.

How to Make a Silent Auction Bid Sheet

Search the internet, and you'll find many silent auction bid sheet templates, but they're also relatively simple to create. The following items can help ensure your silent auction bid sheets are the least of your worries.

Item Name

Start with the item name, and make it as distinctive as possible. When the silent auction bid sheet is beside the item, it's easier to know what it is. However, a distinctive item name will help you stay organized if anything gets moved around.

Some auctions prefer to assign auction numbers to items rather than names, which is a great way to keep track, particularly for large silent auctions with many items. Numbers make it easier to identify the items, both in person and on the silent auction bid sheets.

Donor’s Name

The donor's name is the next thing to list on your silent auction bid sheet. This reference is important for two reasons. First, it can help increase the perceived value of the biddable goods. Acknowledging the item donor also provides a positive service to that individual or brand. While some may wish to remain anonymous, many businesses or organizations appreciate the marketing.

Item Description

Now move on to the item description. Make this as enticing and memorable as possible to help your bidders recognize the uniqueness of the goods up for bidding. By sharing the story of each item on the silent auction bid sheet, you can help the bidder understand the value.

For example, highlight antique items by their age and include known dates. Highlight rare items by indicating their scarcity. Since auctions often use loaded baskets, it is essential to list all the items.

Item’s Retail Value

Noting the worth of an item allows bidders to assign an appropriate value. Alongside the detailed item description, this silent auction bid sheet component can ensure the outcome of your auction.

Bidding Instructions

Everyone loves a deal, but like a traditional live auction where an auctioneer sets the bar for where bids will begin, a silent auction bid sheet must note the minimum bid amount.

Once you indicate the starting bid, list the bidding increments, which lets buyers know how much to bid as the auction moves forward. Though you may leave this item off your silent auction bid sheets, bids can often increase by a few dollars at a time to ten dollars or more.

An Optional “Buy Out” Price

Some silent auction bid sheets include a dollar amount that allows a bidder to purchase items outright. By showcasing this on the silent auction forms, a participant may choose to match the asking price to avoid a bidding war. Just keep in mind that the bidding competition may be in your favor!

Bidder Information

The silent auction bid sheet provides item information and how to bid, but you’ll also need space on your silent auction forms for bidder information, including name/bidder number, bid amount, and contact information.

Reach Out to BetterWorld for More Help

Anyone with event experience knows how easily paperwork can get jumbled. Paperwork problems are one reason BetterWorld designed an online mechanism for silent auctions.

Whether you’re designing a paper sheet or going the virtual route, this list can ensure that your silent auction bid sheets earn top dollar at your silent auction!