Main Subject - Business

10 Tips for a Running a Silent and Live Charity Auction

1. Choose the right date for your silent and/or live auction

Choosing the right date for your auction is critical. Most auctions are held in either the spring or the fall. Summer is not a good time to hold a major event since

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

many guests may be vacationing. Winter is also considered a bad time of year as many are preparing or recovering from the holidays. Fall is normally considered the best time of year to hold an auction because many of your guests are beginning to get into the holiday shopping mood and may find that what you have to

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

offer is on their shopping list. Weekend evenings are the most popular time to hold auctions since most auctions last well into the night.

2. Pick the right auctioneer for your live auction

You have two choices, a professional auctioneer or a volunteer. This decision generally comes down to the following

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

considerations. A professional auctioneer will charge for their services. However, they will auction more gifts faster and for more money. A professional auctioneer can auction approximately 75 items in an evening, at 20-25% higher than an amateur auctioneer. If you are running a small auction, you may want to us

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

e a volunteer. It might also make sense to use a volunteer if you have someone in your organization that has a great personality and is known by many of your potential guests. Best of all, they are free. However, volunteers can cause the evening to run very late and ruin the opportunity to get guests to return to

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

future auctions.

3. Use the most effective strategy for acquiring gifts for both your silent auction and your live auction

Teams provide the moral support necessary to approach a potential donor. Additionally, using teams helps ensure that the paperwork is completed properly. When setting up teams, pay at

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

tention to personal dynamics. Certain team members will be more comfortable asking donors for gifts than others. These individuals should be teamed up with team members who do not necessarily have this talent. Also, this allows teams to share the workload by allowing the more reserved person to take on tasks which

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

are more suited to them (documentation, collection of the gifts, etc.).

4. Obtain tangible gifts for both your silent auction and your live auction whenever possible

Many businesses, especially restaurants, will offer to provide you with gift certificates instead of actual gifts. Focus on local businesse

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

s that can donate tangible items. You should not turn away businesses that can only provide gift certificates, but they should not be the focus of your campaign. Tangible gifts create a very exciting auction night environment. Just imagine an auction with no actual gifts, but rather just a bunch of gift certificat

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

es lying around on a silent auction table. Secondly, a gift certificate is only going to bring in the amount on the certificate, or unfortunately, sometimes not even that. A tangible gift is much more likely to bring in a value that exceeds its real value.

5. Know what to put in your "Auction Packet"

Th

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

e auction packet is given to guests when they arrive. Some of the items you should include in your packet are:

The auction program

Addendum to auction Catalog

Organization fact sheets

Auction rules

Payment options

Advertising

Silent auction tab

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

le closing times

Drink coupons

Raffle tickets

Flyers for other upcoming events

Auction paddles

6. Close down the silent auction tables properly

Closing down the silent auction can be a bit tricky. There may still be several bidders bidding on the same it

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

em right up until the closing time. To prevent a situation that is perceived as unfair, it is important that the table be closed at exactly the time advertised. It is a good idea to announce the closing of table at prescribed intervals before, such as 15 minutes, 5 minutes, etc. This helps to get interested bidder

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

s to enter their "best and final" offer before the time for bidding expires. It is also helpful to close different sections of the silent auction at different times, to allow your volunteers time to pick up all the bid sheets quickly.

7. Take advantage of other opportunities to make money at your auction

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

Admission fees, the sale of beer, wine and cocktails, raffles, door prizes and the sale of advertising in your program are a few of the ways you can augment your auction revenue.

8. Send out invitations for your auction

If you are lucky enough to have a database of your members or guests from previous

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

auctions then you can send out formal invitations. The design of your invitation can range from very simple to very elegant. Your should mail them approximately 90 days before your event to make sure your guests have not already made other plans for the evening. You should also develop a plan to send out reminders

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

at periodic intervals to those who have not sent in their RSVP. Remember, RSVPs also tell you who has declined, which reduces the number of reminders you need to send.

9. Know the laws regarding silent and live auctions and stay out of trouble

Fundraising events create tax consequences for the guest and

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

the organization hosting the event. According to the IRS; "A donor cannot claim a tax deduction for any single contribution of $250 or more unless the donor obtains a contemporaneous, written acknowledgment of the contribution from the recipient organization." Also, "A donor may only take a contribution deduction

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

to the extent that his/her contribution exceeds the fair market value of the goods or services the donor receives in return for the contribution; therefore, donors need to know the value of the goods or services.

10. Use checklists to make sure everything goes smoothly

Room reservation checklis

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

Room setup checklist

Refreshments checklist

Sound system checklist

Check-in checklist

Check-out checklist

Raffle and door prize checklist

Silent auction checklist

Live auction checklist

Auction cleanup checklist

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.mainsubjects.org.ua/article/3239/mainsubjects-10-Tips-for-a-Running-a-Silent-and-Live-Charity-Auction.html">10 Tips for a Running a Silent and Live Charity Auction</a>

BB link (for phorums):
[url=http://www.mainsubjects.org.ua/article/3239/mainsubjects-10-Tips-for-a-Running-a-Silent-and-Live-Charity-Auction.html]10 Tips for a Running a Silent and Live Charity Auction[/url]

Political Economy is the study of social relations, particularly the power relations, that mutually constitute the production, distribution, and consumption of resources. In the 20th century there has been a sharp rise in the media industries (i.e. radio, television, film, newspapers, etc.). Corporations are now scrutinizing the economies of these media companies.

Leathers with the furs still attached are called furs. Leathers commonly used in the manufacture of briefcases, wallets, and luggage, are made from Belting Leather, and Napa Leather. Gifts of leather accessories are also not uncommon. A synthetic leather made out of plastic called Pleather or plastic leather has now found uses as an inexpensive substitute for leather

Would you agree that the way you’re working, you're probably not as productive as you could be if you just had more energy? Longer vacations worked in high school. Why wouldn't it work in the corporate world?

Tags

Links

Main Subject - 10 Tips for a Running a Silent and Live Charity Auction

Related Articles: