Options for Sign On parties
Looking for some sage wisdom on a Buy It Now option for a Sign On Party for an elementary school fundraiser.
This client has been using Handbid for 2 years, and this next event will be the 3rd year. They are wondering about a new way to take their sign on parties up a notch.
Please let me first explain that all the sign on parties are done on paper. This is a lot of work for the person who in charge of the technology, but it was the 1 component they wanted to preserve from their long-standing event -- since they have made so many other changes (i.e. change of venue, moving the event from Friday to Saturday and adding mobile Bidding). They have 15 different parties; some of them are bid up and some are buy it now. (They know they can create different items for each spot, but they are not sure this is the best option.)
Part of the reason for using paper is that some of their top grossing parties are bid up. The most $$ a spot has gone for is $200 and they fight like cats and dogs at the end.
The Committee is thinking of offering up 1 or 2 spots for each of the really popular ones as a Buy It Now during the pre-bidding phase.
The thought is that they put these spots up for $350 or $400 and see if anyone wants to just swoop it up and not go through the hassle of elbowing everyone on paper.
So, my questions are:
1. What is Handbid's take on this idea?
2. If they put it up for $400 and no one buys it, then essentially, are they placing a "value" on the item? BUT, it is HIGHLY convenient to do this, so that is added value, right?
3. If they put 1 spot up for $400 and no one takes it, do they drop it to $350 to see what happens?
4. If no one buys them, then really they are just back to where they always were.
Is there any other theory I am not thinking of?
Thanks for your feedback!