Charities Find Success With Online Auctions

Online auctions are becoming increasingly popular tools for charities looking to raise money in a short amount of time, reports BusinessWeek.

Since 1999, eBay has raised $150-million online. Other sites offering charity auctions are Charity Folks and Charitybuzz.

Even small charities are reaping the rewards of online auctions, the magazine reports. The New Hampshire Center for Environmental Education, for example, has raised about $500,000 since 2004 with charity auctions online.

“It changed our lives,” Cynthia Thomashow, executive director of the organization, tells BusinessWeek. “It’s a quick and efficient way to raise an operating budget.”