Silent auctions are a way of disposing of auction items without employing the services of an auctioneer one of the main reasons silent auctions are popular as charity and organizational fundraisers. Heres how it works.
The items to be auctioned are put on display. For example, a chamber of commerce may have solicited goods and services from people in the community for sale at an annual chamber banquet or other event. If youre interested, you simply browse through the offerings. Find something you like? Bidding is easy. You just pick up a pen and write down your name along with what youd pay for that item
The point is that youre not bidding in the dark like sealed bid auctions. In that case, you submit your bid in writing in a sealed envelope. The envelope is opened and the highest (or lowest, as the case may be) bidder is notified. But in silent auctions, you have the opportunity to see what someone else bid on a particular item. Often, you can even see who submitted that bid, though some silent auctions assign numbers for your bidding to ensure anonymity.
If you enjoy auctions, there are some real pros and some cons to silent auctions. One of the biggest...
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