A lot of charities tend to try both of these strategies at one time or the other. It is probably a question that a lot of people have asked in the past, because it is hard to know without proper research which is a better option for your charity. Well there are some rules to doing this correctly and picking the best option for your charity. We intend on deciphering the best options here.
Before you choose to pick one or the other it is gift basket ideas for silent auction a good idea to consider your timeframe, who your donors are, what the items are that would be available for silent auctions or a raffle and your budget for each of option.
If you are considering having a silent auction you are going to have to get ready to dedicate a good portion of time for the next 6 months or so, just planning and getting everything ready to go. Silent auctions take time to plan, find good locations and get good items to be donated. But usually the turn out and the amount of money that can be made because of an event can be significantly higher than a raffle could ever pull in.
On the other hand a raffle is something that can be setup rather quickly and without a lot of money. The only money needed would be the item that could be won and the cost of the raffle tickets. A lot times when holding the raffle the item that is being raffled off could be donated to the charity. This is even better as the price of the tickets usually aren’t that much.
When trying to decide on which option is better for your charity, it is a good idea to consider that a lot more people will enter into a raffle, not as many will bid an item up in hopes of getting it at the end of an event. The reason is because a lot times, people entering into a raffle really aren’t that concerned with winning the item. Yes it would be nice to get the item, but their intentions are usually just to contribute to the charity.
The same can be said for the silent auction side of things, but usually there is more of a want there, than just a contribution. Basically meaning that if someone doesn’t really want what is being auctioned they aren’t going to bid. However with the raffle, they are just basically giving the money away in support of the charity.