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Sealed Bid Auction Form

Sealed Bid Auction Form

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Instructions and help about Sealed Bid Auction Form

all right in marketing we're always trying to figure out the best way to sell our product and depending on our product an auction might be our best option there are lots of different types of auction so one of those is what's called a sealed bid auction what is a sealed bid auction it's simply a blind auction if you want to think of it that way where potential buyers submit bids simultaneously without knowing other potential buyers bids so in a traditional auction we think of different people offering to spend more money in order to beat out the other people and actually buy the product in a blind auction you don't know what anybody else is bidding the highest bid still wins but because you don't know what anybody else is offering it tends to discourage people from low balling or going very low with their offer because they want to actually win the product or the auction so in some cases this can actually drive up the amount that people offer or spend on products depending on our part

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