By: Erin Olson
Results have been announced for the Golden Auction Awards, sponsored by CityXpress Corp. to honor newspapers that conduct the most successful event auctions.
Awards were presented Monday to newspapers in four circulation bands, with a separate award going to the top revenue-raising newspaper overall. The winning newspapers are the St. Louis Post-Dispatch and Minneapolis/St. Paul’s Star Tribune, which tied in the category for circulation of more than 250,000; The Edmonton Journal, circulation 125,000-250,000; The Post and Courier of Charleston, S.C., circulation 50,000-125,000; and Minnesota’s Duluth News Tribune, in the less-than-50,000 circulation category. The joint winners of the award for highest revenue-earning auction are The Vancouver Sun and The Province, which together generated revenue of more than $2.4 million.
The honorees were chosen based on three criteria: total revenue generated, percentage of items sold, and lowest ad discount ratio. For their efforts, each newspaper will receive a crystal gavel from CityXpress.
“We are very pleased to honor these newspapers and their staffs with an award to recognize their hard work and success,” President and CEO of CityXpress Phil Dubois said in a statement. “Their achievements demonstrate the tremendous power of newspaper auctions and ultimately set new standards for the industry.”
Representatives from the winning newspapers’ advertising departments agreed that there were several keys to their success: offering a variety of products, good organization and preparation, and promoting the auction heavily using different channels.
CityXpress has generated more than $46 million in event auction revenue for newspapers since 2002. Newspaper auctions are online events that help newspapers attract new advertisers by offering local retailers exposure and advertising credits if they provide goods and services for the newspaper to auction — and if those items sell.