Are these being sold in the live auction? If so — and if you’re using a professional auctioneer — don’t worry about an “opening bid.” Your auctioneer will manage this, treating it like any consigned item.

If it’s a silent auction, the easiest solution is to start the bidding at the $401 . It will be a hard sell (it’s best to start items for less than full value). But if it sells, it will meet the donor requirements. If the location of the seats is good, make a splash with that in the description.

If you are ready for something more complicated, you can start the item for less than full value … but include wording in the restrictions that says something like “this donated item must meet the reserve price before being sold.” It’s not ideal because it could generate a disappointed bidder who doesn’t read the fine print, but it’s an option.