What kind of organization is this? I organize a golf tournament every year with a silent auction. Silent auction is pure profit with donated items. Combine that with your kentucky derby party. We made 20k on our auction this year.
The local hospital foundation. Our community has 5 or 6 golf tournaments every year, but the silent auction is a great idea.
The last auction we had centered around chairs (a "CHAIRity" auction, get it?) and people would donate gift packages focused around a chair. There were UGA and GaTech chairs which included tshirts, game tickets, and hats; a gardening chair that was actually an old wooden chair repurposed to serve as a plant stand and garden table; an adorondack chair which included beach towels, flipflops, and suntan lotion; etc. It was fun.