Online Auction – Setup and Run Your Own Auctions

Posted on July 15, 2021

Easy to set up, web and mobile apps for bidding, notifications for bidders if they are the highest bidder or if they are out-bid, and of course, full reporting of bids and dollars raised.

So whether you are holding a silent auction at a golfing event, looking to turn those donated items into dollars through an online event, or holding a gala with elegant prizes, iConnectX has the solution for you.

Event cancelation, postponement or pandemic situation and alike force traditional events to cancel those results to loss of revenue for nonprofits. This is not a story of one or two nonprofits, but many nonprofits find themselves in the same situation. Traditional events, fundraisers, and programs are off the table for now, but that does not mean nonprofits cannot raise funds. Now, nonprofits are shifting their focus from traditional auctions to online auctions.

Online auctions are a great way to bring in revenue, build networks, social interactions, receive donations, and more.

Here, we will dive deep to understand what an online auction is, the advantages of the online auction, how to set up an online auction in iConnectX, and alike.

What is an online auction?

An online auction is one of the most engaging fundraising events where a bidder competes with other bidders by setting increasingly higher bidding amount on a web or mobile-based platform.

Online auctions have made the world a smaller place by allowing bidders from any part of the world to participate in an auction. This has opened the door for both nonprofits and participants.

Online auctions are also popular among nonprofits for fundraising because they enable charities to reach a wider audience across the globe without any time limit.

How do you set up an online auction?

So, whether you are holding a silent auction at a golfing event, looking to turn those donated items into dollars via an online auction, or holding a gala with elegant prizes, iConnectX has the auction solution for you.

It is easy to set up on both web and mobile app for bidding, notifications for bidders if they are the highest bidder, outbid or a winner, and of course, full reporting of bids and dollars raised.

• Go to iconnectx.com and register your nonprofit
• Add your items
• Add a description of your nonprofit
• Add current programs with a link back to your website
• Add volunteer opportunities, plus capture necessary information through an online form
• Take in donations
• Add events, auctions, and fundraisers
• Post stories and activities to the “Feed”
• Manage your admin users
• View reports of all activities
• Promote all activities in the iConnectX Marketplace
• Take advantage of upgrading your subscription and receive advertising on social media, on the site, and our login page

Here are advantages of online auctions:

Online auctions are a widely accepted fundraising method for the below reasons:

Convenience:

It is easy to hold online auctions for nonprofits, they can sign up here to complete the registration process to be eligible for online auctions on iConnectX. Nonprofits can easily set up online auctions from anywhere anytime, and at the same time bidders can enter the bidding process from anywhere anytime.

No Interruption:

COVID19 pandemic or similar situations has forced many nonprofits to cancel or postponed spring fundraisers indefinitely. Unlike traditional auctions, no pandemic can force to cancel or postponed online auctions as it happens over the internet.

Wider Reach:

Online auctions are an increasingly popular way to help expand not only the auction reach for a different range of products to auction, and it wider the reach of the audience. The physical presence of the bidder is not mandatory in such auctions, so they can bid or outbid the items from any part of the world.

Time Efficiency:

Online auctions not only increase the reach of auctioneers, but it saves time too. Bidding on an online auction saves time as you do not need to have at the location of the auction. On the contrary, you can bid online at a convenient time, monitor auctions in real-time.

Economical Too:

Since the online auctions happen online and not a physical location is required for the auction. So, bidders can save traveling expenses as they do not have to be required to travel to the location of the auction, instead of participating online.

Compare Prices:

In online auctions, bidders get a facility to check the price of items up in a online auction online before making the bid, and this enables bidders to place accurate bids.

No Time Restrictions:

Bidding for the auction item can be done anytime according to the convenience time of bidders, unlike traditional auctions. The only thing the bidders need to mind is the last day of entering the auction.

Social Interactions:

Online bidding encourages social interactions.

Generate Funds:

Online auctions include many bidders participating in the online auction that helps generate more funds.

What items put on online auctions for nonprofits

In this article, we have discussed how to set up a successful online auction, but what about the type of items need to auction. The nonprofits must avoid auctioning any gambling or illegal items.

With a state-of-the-art, cutting-edge platform, iConnectX undoubtedly emerging as one of the fastest growing online auction platforms that help nonprofits raise funds by auctioning the items received in a donation.

Today, iConnectX is one of the most reliable online auction platforms for nonprofits as it offers the safest marketplace platform for both nonprofits and bidders alike.

Additionally, iConnectX has many interesting features that are easy to use and easily customizable.

iConnectX sharing the item need to put in an online auction:

iConnectX has a wide variety of categories. In fact, whatever bidders want can usually be found here ranging from signed memorabilia to electronics to travel package.

You can bid for a wide range of listing namely:

• Travel package
• Signed memorabilia
• Collectibles and custom artworks
• Gift basket
• Sporting goods
• Free Training
• Books or Novels
• Fashion

Add an Online Live Auction to Your Online Auction Fundraiser:

Online auctions work in the following steps:

• The nonprofits need to register their organization
• List the auction items on the website
• Enter the minimum bidding amount to enter in an online live auction
• Bidders register and bid for the items
• Receive notifications on bidding, outbidding, and winning the auction
• The highest bidder wins the items
• The winning items are delivered to the winner through the mail, doorstep service, or collect from the nonprofit
• The funds generated through online auction go to charity

What makes iConnectX one of the best online auction sites?

• Easy to set up on both web and mobile platform
• Notifications for bidders if they are the highest bidder, outbid, or a winner
• Full reporting of bids and funds raised
• Easy to turn donated items into dollars through an online event

• Manage your admin users easily
• No platform fee for bidders to enter an online auction
• Build online presence for nonprofit