Charity Auction

[SlipStream77]

I'm looking into the feasibility of running an auction to raise money for a charity.

It would involve bidding for the ability to drive against an ex F1 driver using professional standard simulators. You would be together at the same venue so you would get to meet them as well.

I need to know how much people might bid for the experience and how many people would be interested so I can get an idea as to whether it will be worth setting it up.

I can't go into any more detail or name names as it's currently just a concept.

Thanks.

Mods, I know this could go in the computer games section but I needed a wider audience, I hope it's ok here.

[A.Wang]

An "experience" half-day, complete with all sorts of restrictions such as limited rev and speed will set you back a few hundred quid, the last time I checked.

From what you've said this involves no actual on-track driving...but you do get to meet famous F1 drivers. So, I'd say similar money to one of those supercar/formula race car experince things?

I'd be prepared to bid 2-400 quid at most.

[stin]

I think your trying to enter into what is a very competitive area in fund raising!

For example, I'm racing at the Johnny -Herbert karting challenge this weekend against the likes of Johnny, Riccardo Patresse, Anthony Davidson, possibly Mark Webber but that is tbc plus other drivers from touring cars, gp2 etc....... And a host of celebritys (most likely Z list but still) The cost per team is £750 which we have split between 5 of us so only £150 each. There are also F1 simulators there where i believe the fastest lap of the day wins something etc.

So for £150 i will be racing on track against F1 and professional racing drivers and then, if i haven't been beaten enough, i can try my luck at trying to beat their times in the simulator.


I know that Martin Brundle does 1 with Daytona Milton Keynes after the F1 season has finished as i beleive his son's are sponsored by them and has the F1 crews involved in the race itself.

Out of interest, why are you looking to do this and who would the charity be?

Edited by stin on Wednesday 25th November 11:27

[BoRED S2upid]

Can't you piggyback on another motorsport related auction or charity event? I think you need to widen your prize, include lunch at a top london restraunt or hotel witht he simulator being in the lobby? could the ex F1 driver race more than one winner during the evening etc...

[StevieBee]

Have organised many of these types of events over the years and have previously worked in the charity industry at senior management level, so hopefully, you’ll find the following useful:

• You need to plan as if it were a business venture, not a charity venture. In other words, if you had to invest your own money in the event, would you do so? If so, would you be happy with the return you would get?

• Don’t overestimate the draw that being “charity” gives. Many do and get disappointed. There are around 170,000 registered charities and that amount again, unregistered, all competing for a share of a £20billion market.

• Check the rules with the Charity Commission on percentage of income against cost. There used to be guidelines but I believe they are now legislation.

• There is always a chasm between what you “think” someone will pay for an event and what they actually will – charity or not.

• In order to make the event valid, upfront costs will be required. Who is paying for these? What if nobody bids or fewer people bid than is needed to make it viable. Will these costs be underwritten?

• It sounds like you have already a relationship with the ex-F1 driver but if not, don’t forget that unless they have a direct (often personal) link with the charity, they are still likely to require a fee – less than commercial rates but still likely to be quite hefty.

• Organise it via the charity – you effectively being a project manager. They will adhere to all fundraising legislation and also be able to claim 22% back from the government on every pound made as well as avoid VAT issues. You, on the other hand, will not be registered and will have to pay the government 22% + 15% VAT before you hand over the money to the charity.

If you go for it (and I hope you do), then I’d suggest you don’t go down the auction route. Just offer a package and a ticket price. Easier to manage and easier to target.

PM me if you need any more pointers.

[SlipStream77]

Thanks for everyone's input, StevieBee, that's some very useful information.

It's certainly more complicated than I had previously thought so I will have to give it some more consideration before I decide what to do.