An online charity auction has left residents in Toronto’s once trendy Yonge and University area in a pickle. When 700 unique items went up for sale at WE Charity’s Soap Box event last September, some people lined up for hours to make sure they had a chance to bid. Others thought the sold lots were only a chance to make a little money. And then there was the “no bids?” trend. After all, auctions are supposed to be all about the hope for a fair profit.
Now the jewelry-sharing website is relaunching the auction site on a grander scale to drum up more interest in its one-year-old digital donation site. But while the price tag will help, things are not expected to improve much from last year’s numbers, when WE raised more than $4 million. While WE is on a path toward increasing profits, the company will turn a profit in 2019.
In 2017, WE raised $25.3 million and turned over $1.9 million in profit to its charity partners. WE’s parent company, Metropolitan Corporation Limited, has seen its share of headaches and improvements as WE expanded from a one-day event to selling off hundreds of items daily. So we talked to a few at WE Charity to see what’s going on with this all-purpose philanthropic collection site.
Lines to buy auction items stretch out the door | HOWEVER FEW NEW VOLUNTEERS NOW PROMOTED IN THE CHARITY | THE MAYOR OF TORONTO WANTS TO INVEST IN BLOOMY WE’RE RELINQUISHING MANAGEMENT TAKEOVER