The 31st Annual Water Valley Stud Auction is set to go tomorrow night.

Water Valley Stud Auction Coordinator Robin Smith says it started off  where people would auction off the stud fees for their horses but it's evolved over the years.

"Over time it turned more into a merchandise auction and now today it's a full-blown merchandise auction. We have a silent auction as well as in the early evening a live auction."

Smith says they have over 250 items up for grabs and there's a wide range of items including golf and camping packages, Calaway Park passes, lots of gift cards, rodeo passes and goat yoga.

"There's trail rides in Banff, there's balloon rides and summer camps for children. There's loads of gravel. We've had a really wonderful cash donation from Spray Lake Sawmills in Cochrane that's very generous and we actually have a stud horse that we will be auctioning the stud horse fees off this year."

"It's really exciting and lots of times people know each other and they get into little bidding wars and the items go for all kinds of prices."

They raise about $20,000 each year and they're hoping for the same this year. 

They plan to use the funds to pay off the mortgage for their new community hall. 

Smith says the event will feature a cash bar and home cooked food. 

The doors open at 4:30 p.m. with the silent auction getting going then. The live auction will begin at 7 p.m.

It's free to get in and she anticipates a full house. More than 200 people came out to last year's event. 

You can find more information here.