WHAT IS A QUARTER AUCTION? (Besides a TOTAL BLAST...) A quarter auction is an event used to promote local direct party reps and individuals who hand make crafts, while raising money for a local charity of choice. Guests also are given the opportunity to visit with different vendors and buy or receive information on their products. There is on average 20 vendors who bring 2 items to auction off for 1-4 quarters and a door prize. Guests enter and buy paddles with numbers written on them for $2 each, which they use to bid on the items auctioned from the vendors. We will use Joe for an example: Joe purchases 3 paddles. A vendor comes to the stage. She sells Tupperware and gives a description of a platter she is auctioning off and tells the bidders that it is a $50 value and she is asking 2 quarters. Anyone who has purchased a paddle may bid on this item by placing 2 quarters in the collection bin. Joe has 3 paddles so he must decide if he wants to use all 3 of his paddles to bid for a total of $1.50, .50¢ per paddle, or if he only wants to use one or two of his paddles. Now Joe doesnt have to bid at all if hes not interested in the product but in this case Joe is interested but only wants to bid a total of $1.00 so Joe picks 2 of his paddles to hold in the air and keeps one in his lap. After all quarters have been collected the vendor pulls a numbered chip from a container and if the bidder is holding that paddle in the air, then they win the auction item. Joes numbers are 4,8, and 87 Joe has picked paddles 4 & 8 to hold up and 87 is in his lap because he did not bid with that paddle. The auctioneer pulls #87, well Joe didnt bid that paddle so Joe says no bid and the auctioneer continues to pull numbers until she calls a number that has been bid. There is one round of auctions from each vendor, then an intermission followed by another round of auctions. There is also a 50/50 raffle drawn at the end of the auction that guest can participate, in which they buy raffle tickets for $1 each or 7 for $5. At the end of the night the total amount of money for raffle tickets purchased is added up and say the amount is $250. The auctioneer pulls a ticket and whoever has the matching ticket wins 50% of the money and the other 50% goes to the charity. So $125 for each the winner and the charity would be given for this raffle. The amount varies and depends on the amount of tickets bought. After the close of the auction the amount of money for the sales of all paddles, concessions, 50/50 auction and vendors fees( minus event building rental fee) are added up and within 24 hours the charity will be given the totals collected for these items and will receive a donation within the week for this amount.
Posted on: Wed, 19 Mar 2014 22:17:29 +0000
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