Word silent auction actually refers to a specific type of fundraising technique which is immensely used in charity events by a silent auction company. It significantly differs from the typical method of auctioning. Usually silent auctions are operated by setting up tables and keeping the items on them which needs to be bided. There are pieces of paper beside every item and a minimum biding price is also displayed.
People can review the items displayed through the silent auction software and bid for those which they want to make their own by writing their names as well as biding price on the paper. Technology has introduced specific silent auction software that makes the process a whole lot better. All the previous bids are shown on a sheet of paper which gives bidders an idea regarding its original selling price. The biding papers can be revised before the auction ends which gives a lot of enthusiastic clients a chance to rethink their bidding quotes.
Both the silent auction and traditional auction have their own personal advantages. A silent auction works without the need for a professional auctioneer and the bidding amount is generally lower giving people enough time to decide about the items. In regular auctions, the biding amount may be higher due to the influence of a professional bidder. A silent auction company offers auctions that are ideal for individuals who cannot invest a lot of time or money in buying a home.