by By Jonathan Vatner | November 30, 2009

Gavel and a laptopThe latest trend in auctions is electronic bidding. Guests each get a handheld device to place bids, and the highest bid at any moment is projected onto a screen. Anecdotally, this method seems to raise more money than a traditional silent auction. Companies that can create this setup are IML (212-805-7331; and BidPal (317-816-8842; Because the technology costs $5,000 to $15,000 to implement, it's best-suited to events that can raise many times that sum.