If you are reading this hoping for a hard number, as if all auctioneers are the same, I am sorry to disappoint you. However, if you want to know how a benefit auctioneer will calculate the price of his or her services, then you are in the right place. There are many factors that go into pricing when it comes to an auctioneer, and I am happy to decode some of that mystery, so you know what you are getting into.
These are some of the most common factors that affect the price of an auctioneer. Audience size, day of the week, experience/skill of the auctioneer, travel considerations, and the pay plan. Let’s look at each of these factors separately.
How does the size of the audience affect auctioneer pricing?
The auctioneer can only collect money from bids and donations they can see. Large crowds need more staff and ringmen to effectively relay bids to the auctioneer and field questions from the audience. Most auctioneers will bring on a ringman for each 100 people (10 tables) in your event. Consider each 100 guests as an additional ringman for the evening.
You might be thinking, “they only work for 30 minutes for the live auction though? Why do they affect the overall cost so much?” Professional ringmen are dedicated to their craft and work on their skills relentlessly. They assist the auctioneer before the live program, help to plan the execution of the auction and appeal, scout out the biggest donors, greet and talk with guests, and do other tasks behind the scenes before the auction begins. During the auction, each ringman is capable of bringing in thousands of dollars in additional donations and sales by relaying the bids to the auctioneer, keeping the bidders engaged, and encouraging guests to bid again and again. They also sell packages after the auction to bidders who did not win to increase the night’s take.
If your event is expecting 300-400 people, the price for your auctioneer will include the costs of hiring 3-4 additional ringmen. The cost of each ringman will vary depending on their experience and skill level. The nightly rate will range from $0 (for beginners learning the trade) to $500 or more for the best in the business. 1 great ringman in the crew can easily add $1000’s to the live auction revenue.
Which day of the week is cheaper to hire an auctioneer?
Fridays and Saturdays are in high demand and will cost more than an event held on a Wednesday. Depending on the auctioneer, a weekday event can get a 20% – 50% discount compared to their Friday / Saturday night rates. If you book an auctioneer on a weekday within a few weeks of the event, sometimes you can get a great rate because they just want to fill their calendar. Other auctioneers will charge a premium for a last minute booking. That will be case by case with each auctioneer you talk to.
What’s the price difference between a new auctioneer and an experienced professional?
This is a competitive business, where new auctioneers are struggling to book each event. A new auctioneer might do it for free for the experience. Maybe they will ask for dinner or for new head shots from your photographer. These auctioneers are not confident enough to guarantee results. They do not have the experience and intuition while working the crowd. They don’t know when to raise the bids faster or slower. They probably don’t have much talent working the crowd and building rapport on stage. And almost certainly, they lack the skills to deliver an emotionally compelling paddles up appeal to your donors that brings in biggest money of the night. If your goal for the night is to raise less than $20,000, it may make sense to work with a new auctioneer. You don’t have as much at stake compared to the organizations with a goal of $250,000 for the night.
An experienced benefit auctioneer knows how to develop your live program from beginning to end. They have experience working with the speakers in the live program. An experienced auctioneer will help you optimize the on site activations, fundraising games, raffles and silent auctions. They know how to connect with the audience to get the most money for you auction items. More importantly, they can bring in many times the auction revenue in pure giving during the paddles fundraising appeal. Investing in a professional benefit auctioner will yield many times their cost when you tally the numbers at the end of the night. It’s one of the best ROI investments for most organizations for the entire year. An experienced auctioneer, who includes fundraising consulting services before the event will charge between $1500 to $10000 depending on the size of the event, scope of the services involved and size of the crew required to execute a exceptional live program.
We can help you find the right fit for your event and budget with our network of auctioneers.