 Contests & Activities: August 09, 2006 Issue [#1199] |
  Contests & Activities
This week: Edited by: Melissa is fashionably late!  
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1. About this Newsletter
2. A Word from our Sponsor
3. Letter from the Editor
4. Editor's Picks
5. A Word from Writing.Com
6. Ask & Answer
7. Removal instructions
What fun would the world be if you didn't have Writing.Com? What fun would Writing.Com be if it didn't have interactives and contests?
If you have a hard time finding something fun to do, then this newsletter's for you! |
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Before I get started, I want to make sure that I send my thanks and appreciation to terryjroo, who traded weeks with me this cycle so that I wouldn't have to submit a newsletter while I was attending the 2006 Writing.Com convention.
And now for your regularly scheduled newsletter...
So we've covered how to run a raffle, how to run an auction, how to run a contest, how to start a contest, and many other topics in the past 10 editions of my monthly editorials. In fact, my next edition, due to be released in 2 weeks, will mark my 1 year anniversary of being an editor for the Contest & Activities and my 12th edition of this newsletter.
I noticed someone asking about auctions in scroll recently, and asking a question I don't think I remember ever covering or seeing someone else cover in other editions.
At which amount should I start bid on items for auction?
Most people have a standard they start bids at, somewhere between 100 GPs and 1,000 GPs for items like signatures. If your items have an actual retail value, though, a good starting bid can mean the difference between pulling in the GPs that are close to the value of the item and not getting the GPs worth for the item.
Say that someone donates a 25 dollar gift certificate to an online vendor to your auction. This item is obviously worth 250,000 GPs, but you don't want to start bidding at 250,000 GPs because that gives less bid potential for your item after the initial 250K bid. So where should you start bidding on an item like this?
Mostly, this decision is up to the person in charge of the auction, but starting it between 10,000 to 50,000 Gift Points is a fair start and gives room for growth. Most of the time an item will go for less than its value in Gift Points, but it usually gets pretty close to its value before the bidding drops off.
One of the more important things to remember about hosting an auction and choosing starting bids for items is that half of the fun for bidders is in the actual act of bidding. If you set the bid amount too high for an item, you're decreasing the bid activity and ultimately the amount of fun for your participants. If you set the bid amount too low, you may not get your ultimate Gift Point goal in exchange.
If you have any more questions regarding running a successful auction, raffle, contest, or other activity, please feel free to ask. One of the talented and knowledgeable newsletter editors (myself or another) will make sure your question gets answered! |
Have an opinion on what you've read here today? Then send the Editor feedback! Find an item that you think would be perfect for showcasing here? Submit it for consideration in the newsletter!
https://www.Writing.Com/go/nl_form
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