Functioning of Virtual Auction Fundraiser

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 With the Covid-19 pandemic pushing people indoors, charitable institutions are that dependent on auctions to raise funds have been the hardest hit. Fortunately, the Internet and virtual auction fundraiser have combined to ease out the problem for them.

How does a virtual auction fundraiser work and what are its benefits?



A virtual auction fundraiser is conducted through specialized websites in this field that use cutting-edge software to conduct the proceedings. Unlike traditional auctions, the goods are not physically displayed but only their photos are uploaded to the site. Participants have to register themselves before they can take part in the bidding. This is because, with their particulars like name, address, and phone number, they can be contacted later for payment, shipping, and delivery.

Virtual auctions are cost-effective when compared to general auctions where a lot of investment is required for hiring a venue and an auctioneer and transporting the goods physically for display. All these cost substantial amounts of money. On the other hand, the virtual auction software automatically conducts the bidding optimally and only the photos of the items are uploaded on the site for verification by the participants. Additionally, many sites are free and do not charge even any administrative fees. However, fundraisers have to pay third-party charges like fees of payment gateways and expenses for shipping and dispatch.

Bidding at a virtual auction fundraiser is very convenient too and can be done from any Internet-enabled device like a smartphone, tablet, or laptop. After a bid is placed, the participant need not track the progress of the bidding. A notification is sent to the device once the original bid is crossed.

This is how a virtual auction fundraiser works.

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