New Post Advanced Search

How much to charge?

4 replies 618 views
jazz_girljazz_girl Forumite
8 posts
In May I did a charity fundraising coffee morning with games and a Chinese Auction. We raised £600 in 2 hours which I was really pleased with for a first effort.

We had 11 prizes in the Chinese Auction with a value between £20-£30 and tickets were £2 each.

We had 1 prize with a value of £110 (to buy - cost price of £50) with a ticket value of £5.

I'm doing another charity event in November - same format and I am wondering whether to drop the ticket price.

We have 10 prizes worth £25-£35, 1 prize worth £50 and 1 prize worth £99.

I was thinking £1 for the £25-£35, £2 for the £50 prize, £3 for the £99 prize but I am really not sure.

Obviously I would like to raise more than last time, definitely not less and I would like everyone to have a good time.

Some of the prizes last time got less bids than others e.g. the car MOT only had one bidder (who lost his ticket!) :rotfl: I have concentrated sourcing similar styles of prizes to those that were popular last time and which are likely to be popular Christmas presents.

Do people generally have an amount to spend (which would make the auction raffle more fun) or might they just spend less?

Replies

  • 00ec2500ec25
    9.1K posts
    ✭✭✭✭
    jazz_girl wrote: »
    We have 10 prizes worth £25-£35, 1 prize worth £50 and 1 prize worth £99.
    with a prize pot of that size (approaching £500) are you familiar with the law for raffles? (ie lotteries)
    http://www.gamblingcommission.gov.uk/for-the-public/Fundraising-and-promotions/Fundraising/Lotteries-at-events.aspx
  • edited 9 October 2019 at 10:26AM
    jazz_girljazz_girl Forumite
    8 posts
    edited 9 October 2019 at 10:26AM
    Thank you so much, I've looked into that already - it is an important consideration and we will make sure we stay within the law. Thank you for the link :beer:
  • SandtreeSandtree Forumite
    682 posts
    500 Posts Name Dropper
    ✭✭
    Never heard of a Chinese auction.

    You need to consider the likely attendees of the event both in terms of numbers and their likely spending habits.

    Any particular reasoning for favouring this style of competition rather than simple price brackets so you don’t risk loss making items?
  • 00ec2500ec25
    9.1K posts
    ✭✭✭✭
    Sandtree wrote: »
    Never heard of a Chinese auction.
    look it up then.

    don't worry I save you the trouble:
    "A Chinese auction is a combination of a raffle and an auction that is typically featured at charity, church festival and numerous other events. It can also be known as penny social, penny sale, tricky tray or pick-a-prize according to local custom, or to avoid causing offence.

    It is unclear whether this type of auction actually originated in China; it is much more likely that the term derives from "chance auction," which is also another name for this type of auction. The term "Chinese" may have been used in this case to convey that this type of auction was mysterious, intriguing, or secretive.

    The difference between a raffle and a Chinese auction is that in a raffle with multiple prizes, there is one "hat" from which names are drawn, but in a Chinese auction each prize has its own "hat". This allows ticket buyers to choose which prize to focus on, as opposed to having a first, second, third, etc. prize."


    OP sorry can't advise you on pricing strategy as I never play games of chance, no matter how worthy the cause. You'll just have to take a commercial gamble, particularly if you have experience of poor sales for higher value items when punters don't know what their chance is as they don't know how many tickets have sold
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support