College Prowler $2000 No Essay Scholarship - Appy Now!
Print

Student Life >> Browse Articles >> Personal Finance

Rate

Organize an Auction or Raffle-- and Make Some Extra Cash

Organize an Auction or Raffle-- and Make Some Extra Cash

By Lauren Bayne Anderson

January 25, 2010

Tough times call for tough measures. If you don’t have time to get a part-time job, but need some extra cash, here’s an idea—conduct your own auction or raffle.

First things first—figure out what you’ll auction off. This could be anything from the opposing team’s jersey at a tail gate party (which is usually burned by the auction winner) to raffling off a bucket of the beverage of choice (among your peer group).

The beauty of the campus auction is that you can do it with anything of value you own. It can be done as a personal way to make cash or to raise funds for an organization or project.

Here’s what you do:

  1. Go to the store and buy $80 worth of the beverage of your choice (legal stuff only please!) or another prize of your choosing. Remember, quantity not quality is usually key here.
  2. Assemble it in a basket or bucket that makes the prize look ample.
  3. Set a raffle date.
  4. Price tickets accordingly. Usually raffle tickets can sell anywhere from $1 to $5. The cheaper the tickets, the more people will usually buy.
  5. Take the bucket door to door in the dorms, set it on display at a table in a high-traffic area or take a picture of the prize to carry with you while selling tickets. You can also place an add in the college newspaper’s classified section advertising where to buy tickets.
  6. Start selling tickets and collecting the cash.
  7. Pick a winner and give the prize away! Of course if you’re going for the tail gate auction, there are no tickets necessary—but a lot of chutzpah required. Just show up at the tail gate party with the opposing team’s jersey on and scream to the crowd that you’ll give the jersey up to the highest bidder. (Please wear SOMETHING underneath).

Whatever way you go, in the end, you’ll be up several hundred bucks.


Discuss this article on Facebook