Golden Ticket Raffles offer a limited number of higher price chances to win a high value prize - typically the choice of any live auction item.
Selling 100 tickets at $100 can be surprisingly easy for a buyer’s choice prize and can increase participation when significant numbers of attendees feel “priced out” of the live auction portion of the event.
Setting the Price: Rule of thumb for setting the Golden Ticket Price - if half of your guests purchase a ticket, the revenue should equal or exceed the Fair Market Value of any of your live auction items (or at least most of them). Example: At your auction, the live auction item with the highest FMV is a week-long trip to Bermuda, at $12,000. You are expecting 300 guests. $12,000 divided by 150 tickets is $80/ticket. This is the minimum price you should charge for a Golden Ticket. If you limit the number of tickets to less than half of your attendees, the price should be increased.
