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Differences Between A Raffle And A Silent Auction

Thursday, October 22nd, 2015

The auction industry can be confusing with its variety of auction types, including live auctions, silent auctions, and even raffles. Since a silent auction and a raffle both allow buyers to bid or enter anonymously, what’s the real differences between them? In order to understand their differences, it is best to understand exactly what a raffle is and what a silent auction is.

What is a raffle?

A raffle is a great way for an organization to raise money, such as a school, church, charity, or municipal group. In order to join a raffle, interested buyers typically purchase a ticket, which constitutes one entry and one chance to win an item. Generally, businesses or services donate an item to be raffled off, including small items like gift cards and services like a spa day.

Typically, the organization holding the raffle collects entries and picks the winner randomly. Everyone has a chance to win, but people who purchase more tickets have more chances to win the prize. A raffle can take place over a number of days or weeks, and in some cases, the winner is chosen at a special event. Sometimes the winner must be present to claim their prize, though in some cases the winner will simply be notified to pick up the prize. The money that is earned from the raffle tickets that were sold will go to benefit the organization.

A raffle is the less expensive than a silent auction, because the only expenses organizers will have are printing tickets and potential advertising costs. However, both a silent auction and a raffle require organization. Both events require a team to help plan, get donations, and advertise the event in order to raise money for the charity or organization. Essentially, a raffle isn’t really an auction at all, since people don’t actually bid on items and the winner is left to chance.

What is a silent auction?

A silent auction is a completely different type of event from a raffle. The main difference is that a silent auction requires a set location for the event. Like a raffle, items are donated from local businesses. However, bidders have the chance to examine items and bid anonymously using at a silent auction, rather than just purchasing a ticket. Unlike a raffle, the highest bidder at the silent auction will win the item.

It costs much more to hold a silent auction than it does to hold a raffle, and there is more planning required. Silent auctions sometimes require hiring caterers and entertainment, setting up and decorating an event space, and sending out invitations in advance. Silent auction organizers will also have to provide bidders with a list of items that will be available, if possible.

For more information

Would you like more information about auctions or about holding one of your own or attending one? Contact High Plains Auctioneers for more information about auctions at (806) 244-6776. You can also Contact Us by email to learn more about our services and view our upcoming auctions.