We are often asked by non-profit event organizers to compare our program to “consignment” programs that they may have used (and typically have had bad experiences with). We did a little research, and we quickly discovered why so many non-profits shy away from consignment. The good news is that we found that it is very easy to contrast consignment with TravelPledge. It seems to come down to answering a very simple question:
“What percentage goes towards my cause if the item sells at a reasonable price?”
We’d love to think that everyone that attends a fundraising event is there to be generous and to donate to your cause. In reality, we’ve witnessed a great deal of what we’ve coined “selfish giving”, the natural tendency of most attendees to seek out bargains instead of focusing on donations. Therefore, the reality is that most wind up selling at an average of around 10% above the minimum bid. The comparisons below are based on this realistic assumption.
Here are some important facts to know about TravelPledge. 1) TravelPledge requires all participating vacation home owners/ managers to donate either half or all of the rent. Golf courses that want to participate (OneSpareTeeTime.com) must donate all of the value of the certificates they post. We’re now adding restaurants and gift cards as well, and we’re placing similar requirements on those businesses (to ensure you receive the maximum donation!). 2) Some consignment companies “build in” a donation (let’s say 10%) for you even at the minimum bid, and while this allows you to feel better if the item sells at the minimum bid, these items often sit unpurchased since the price seem too high for the bargain shoppers. 3) We didn’t show this example (we wanted to highlight worst case results), but some vacation home owners (typically those owners that really want to help your organization) donate all of the rent, and that will double your donation! Ask your supporters if they own a vacation home!