February 6, 2009 — A leading online auction fundraising service said that the bad economy doesn't seem to be negatively affecting online charity auctions.

cMarket Network said its data suggests that the bad economy doesn't seem to be negatively affecting online charity auctions, and it appears fundraisers are finding online auctions to be a solution. It released 2008 performance data, revealing a 44% increase in the number of auctions run on its platform and a 26% increase in revenue generated, bringing the total raised for nonprofits since 2003 to over $53 million.

The company also said it has already booked 58% more charity auctions in the first quarter of 2009 than the same time last year.

cMarket CEO Jon Carson said, "The nonprofit sector is suffering on nearly every front, but there is a bit of good news and some positive growth indications that suggest American consumers are happy to purchase goods and services from non retail sources when their money goes to a good cause."

In 2008, cMarket held 2,259 online auctions, generating $20,459,687 in revenue. Auctions supporting K-12 Education accounted for 38% of all auctions. Rounding out the top three cause categories were Arts and Culture, and Human Services generating 11.65% and 7.37% respectively.

Mass. Attracted 8% of Online Auction Revenue

California schools and nonprofits attracted nearly 25% of the total online auction revenue generated, followed by New York with 11%, Massachusetts with 8%, Texas 7% and Florida 6%.

The top five selling item categories were travel, sports tickets, dining, entertainment tickets, and health & beauty. Registered BiddingForGood.com shoppers exceeded 88,000. Surveys of this audience show that 63% are women, over 40 years old, with an average household income over $100,000. These bidders drove 24% of winning bid revenue across all cMarket hosted auctions.

An additional positive growth factor comes from product and service vendors who partner with cMarket and donated over $1.5 million worth of goods and services in these auctions last year. This form of social marketing directly targets a largely affluent, cause-minded consumer base and generates positive brand recognition through association with charitable causes.

Republished with permission from AuctionBytes.com. For more click here.