Auctions are a popular reward for LiveSchool users and are great way to get students excited. Auctions help teach financial literacy by encouraging students to think about how many tickets an item is worth to them personally. In this article, we will share how to pull off a great auction for your students!
1. Plan Your Auction
First, decide what kind of auction you plan to hold, a live auction or silent auction.
In a live auction, every student participating is in the same room and bidding on items at the same time. The auctioneer sets a minimum bid to get bidding started, then gradually increases the bidding amount to see if there are any takers. This can be a fun culture-building activity especially when expectations of students are clearly communicated. Once the crowd no longer wants to bid higher, the highest bidder wins!
A silent auction is a great idea if you don’t have a huge space to hold all your students. At a silent auction, each item gets a bid card and students walk around and places bids on a bid card. At the predetermined end of the auction, the student with the highest bid wins!
Once you know what kind of auction you will hold, select a date and location for your auction. Most commonly, auctions are held at the end of semesters, before winter break, and at the end of the school year. Depending on the type of auction you choose, you must find a space that will hold your event. This might be the hardest part of the event so start planning early!
2. Gather Auction Items
Next, start a list of auction items. We recommend you ask your parent volunteers to donate or loop in your community in helping to make this event great – another reason to start planning early. You can also reach out to local businesses for donations like coupons and special offers.
3. Market the Auction
To ensure that students are excited, market your auction! Think posters, morning announcements, and flyer in the carpool line. The hype around an event will make it desirable and exciting.
A great auction-specific marketing tool is to slowly reveal new auction items once a week. This build hype around the event and reminds students once a week what they are working for. Showcase the items in a public place so students can start thinking about what they want!
4. Hold Your Auction!
Make sure the event is fun and not stressful by teaching your students the rules and expectations for your auction. Use the auction as a teachable moment for students to support one another by clapping when their classmate wins an item! Then, start the bidding!
Before the auction starts, make sure your students know how many points they have to bid with!
You can project student's current bank account totals in Rewards mode.
After the auction is over and you know how much each item was sold for, it's time to adjust student account balances.
Log into admin.liveschoolinc.com with your username and password.
Then click the Transactions Tab
Click Add Transaction
- Choose Adjustment
- Name the auction item
- Enter the amount that was bid
- Choose the students name
- Choose Debit
- Click Add Transaction
The students bank account will be adjusted based on the auction item they bought.