You will usually find two different types of auctions: a collective or a disposal. Collective auctions create lots—or auction items—from several suppliers or vendors. Disposal auctions usually come from a single person or estate to pay debts, finalize foreclosure, or to simply clear space. 

Non-profits often hold fundraiser auctions to raise money for their cause. These events are exciting for everyone involved, despite the challenges that can come with planning them. If you are like most fundraiser organizers, you will do what it takes to create a successful event. It can help to know what types of auctions are available to choose the best one for your non-profit.

If you have decided to sell something at auction, you need to get people’s attention and interest in your product. Filling out a listing for an auction item will require you to describe what you are selling. An auction catalog gives you the chance make people want to learn more and possibly buy your items.

You may have been to a traditional auction where a fast-talking auctioneer calls out bids while buyers raise their paddles to secure their price. Traditional auctions offer many advantages, but online auctions are becoming a more popular option. It is important to understand how traditional auctions and online auctions are managed, because there are some key disadvantages and benefits for both types.

Taking part in a live auction is about much more than profits; it’s simply a good time. Ready to schedule your own and be a part of the action? Choose an experienced auction house that takes care of every detail. You don’t want to be left with purchases that aren’t paid for or more than one buyer. Assess the items you plan to put up for bid. An experienced auction house will have an idea of which items will bring you the most profit. You will also want to market your live auction to ensure a good turnout. The more your advertisement is seen, the more chances you have of organizing a large crowd at your live event.

Always wanted to participate in the live action of an auction, but aren’t sure what to sell? Start by assessing your belongings and keepsakes. Determine which items may garner high bids, netting you a profit and cleaning out your garage or storage space at the same time. Some popular ideas for live auction items include antiques, artwork, jewelry, equipment, and real estate.