Virtual Auction and its Types | Virtual Live Auction and Virtual Silent Auction

Virtual Auction

A Virtual Auction or an online auction is like a flea market being organized over the internet. Sellers choose to sell single or multiple products while the data collection happens behind the scenes. It involves winning and losing after making substantial bids. However, there are different types of online auctions that one can go ahead with. Let’s discuss this in detail.

There are two types of an online auction

1. Virtual Live Auction

2. Virtual Silent Auction

Virtual Live Auction:

Virtual Live Auction is a live-streamed event with auctioneers, buyers, and sellers participating online, from their respective places. People can view the item details, join the live chat to discuss things with fellow supporters/participants, make bids, offer donations, and buy things, all through the single screen they operate with the help of the software.

Virtual Silent Auction:

An online silent auction takes place over a longer period, say, a week. This type of online auction gives the participants enough time to gain access to the online catalog that has the list of auction items. Participants can go through the catalog at their own pace and make bids on the items that interest them the most.

Virtual Auction

If you are all excited to organize your virtual auction, make sure that you choose the right software platform for hosting it. Choosing a good platform streamlines the entire process of organizing the event. One of the most exceptional software for organizing virtual events is iConnectX.

iConnectX is a platform that has been used by several nonprofits to organize different types of fundraisers over the years. It has innovative features that take care of each aspect of event management. iConnectX enables you to offer a great event experience to your attendees ensuring that the event proceeds in a hassle-free manner!

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