HOW TO PRICE RETAIL AUCTION ITEMS:
ZGIVE recommends featuring select retail items at auction such as gift baskets, art, and wreaths. We carefully select retail providers that provide items that are of good quality and with a price point that can be easily doubled for your auction.
Knowing how to price retail items is important. Items that are priced too low (or right above the listed retail price) do not generate very much revenue for your nonprofit.
If for example a gift basket is priced at $58 retail (with free shipping) ZGIVE recommends doubling the retail price for a starting bid of $116.
Wreath Example - Retail
Nonprofit Cost: $54 (includes shipping)
Suggested Starting Bid: $110
Retail Value: $150
Bid Increment: $15
Buy It Now: $200
Gift Basket Example - Retail
Nonprofit Cost: $58 (includes shipping)
Suggested Starting Bid: $116
Retail Value: $150
Bid Increment: $15
Buy It Now: $200
How To Price Retail Items
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Retail Cost - listed by provider
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Nonprofit Starting Bid - double the retail value
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Auction Retail Value (what you list on your portal): 2 1/2 times the actual retail value
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Bid Increment: 10% of the Auction Retail Value
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Buy It Now: (if applicable) - 3 times the Auction Retail Value
From our selected retail providers