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How to Price Silent Auction Items: 6 Rules to Follow Research the Known Price of Tangible Items. Consult with Supporters to Estimate the Value of Intangible Items. Set a Minimum Bid at 30-50% of an Auction's FMV. Set a Higher Minimum Bid for Unique Auction Items. Start by Increasing Bids by 10% of the Item's FMV.

The top of each bid sheet should include the following information: Enticing auction item title. Detailed description of the item, including the name of the donor/sponsor (if not anonymous) Item number. Item's retail price or fair market value (FMV) Minimum starting bid. Required bid increment amount/minimum raise.

How to Price Silent Auction Items: 6 Rules to Follow Research the Known Price of Tangible Items. Consult with Supporters to Estimate the Value of Intangible Items. Set a Minimum Bid at 30-50% of an Auction's FMV. Set a Higher Minimum Bid for Unique Auction Items. Start by Increasing Bids by 10% of the Item's FMV.

Silent auctions are a type of charity auction and nonprofit fundraising event. During silent auctions, organizations raise money by taking bids on auction items and selling each to the highest bidder. Bidding is either conducted by using paper bid sheets or mobile bidding software.

Auction items are priced based on their fair market value ?? Not sure how to price silent auction items? Estimate and list the fair market value (FMV) for each item (any money paid over that is considered a charitable contribution and is tax-deductible), and set each item's starting bid at approximately 40% of its FMV.

Pricing can be based on the first-price auction model (where the highest bidder wins and pays exactly what they bid) or on the second-price auction model (where the highest bidder still wins, but what they pay is equal to the second-highest bid plus one cent).