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SEALED BID AUCTIONS

  • The Seller is generally seeking the maximum control to determine who has interest and what intended use they have for the property.
  • Bidders do not know what the other bidders are offering.
  • There is nothing to force them to go higher, except for their wish to be the top bidder.
  • Often the seller does not obligate himself, to accept the winning bid, and the bids are broadly distributed from low to high value ranges.
  • Bidders may be bidding against themselves, as they guess what their competition may bid.
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2007-01-26
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2006-08-16
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