In a sealed-bid auction, every bidder submits a price without seeing anyone else's, and the highest bid wins when the lot closes. No one can watch the price and add a dollar at the last second, so bidders have to decide what the item is really worth to them. This guide covers when sealed bidding fits, how it works in BidKing, and the settings that keep it fair.
When sealed bidding is the right format
- Items with a "true value" question: property lots, equipment, vehicles and collectibles, where you want each buyer's honest best offer rather than a slow climb.
- Tender-style sales: a seller wants offers by a deadline and picks the highest.
- Avoiding bidding wars: no visible price means no last-second sniping and no momentum-driven overpaying.
- Fewer, more serious bidders: sealed bids suit lots where a handful of informed buyers compete, not crowds.
Where it fits less well: impulse items and entertainment-style auctions. There the visible back-and-forth of an English auction is the point.
How a sealed lot works in BidKing
Sealed bidding is one of the auction types in every BidKing edition. Under Auctions › All Auctions → New auction, choose Sealed and set:
- Lowest bid allowed: no bid below this is taken.
- Highest bid allowed: the cap. Leave it empty to use the item's retail price.
- Reserve (optional): if the highest bid is below it, the lot ends without a sale.
- Bid fee (optional): what each bid costs from the bidder's wallet. You can switch it off.
- Start and end time.
What bidders see while the lot is open:
- The lot card shows the lowest bid allowed, not a current price.
- Each bidder sees only their own bids in the bid history.
- Who leads, and with how much, stays hidden from other bidders until the lot ends.
How the winner is decided:
- The highest bid wins. A new bid takes the lead only if it's strictly higher, so on a tie the earlier bid stands.
- Bids arrive in any order, but the leader is always the highest bid seen so far.
- A scheduled job closes ended lots every minute, so cron has to be running. If the reserve is met, the winner claims the item through the cart at the winning price.
Bid fees on sealed lots: decide deliberately
You can run sealed lots with or without a bid fee:
- Without a fee, a sealed auction is a plain sale to the best offer, which is what most tender-style buyers expect.
- With a fee, every bid costs the bidder money whether or not they win. In a format where nobody can see the price, that's harder to justify, and in some places it may also raise legal questions about chance-based charges.
If you do charge a fee, state it clearly on the lot. If you're unsure whether you can, check with a local lawyer.
Late bids: anti-sniping
A sealed lot can't be "sniped" in the usual sense, because nobody can see the price to beat. Some operators still want a short extension when bids arrive at the very end. BidKing Pro includes Anti-Snipe, set per auction: if a bid lands within a window you choose (1–60 minutes) before the end, the lot is extended by a few minutes (1–30). It works on sealed lots as well as English ones.
Trust: what you can see, and what to tell bidders
As the operator, you can see every bid on a sealed lot in Auctions › Bids while it's open, as the admin of any sealed-bid system can. That's the main trust question your bidders will have. Answer it up front:
- Say who can see bids before the close, and that you don't share them.
- Don't bid on your own lots, and don't let staff accounts bid.
- Publish the result when the lot ends. BidKing reveals the winner and winning amount on the lot once it closes.
- Use a reserve rather than refusing a sale. If there's a minimum you'll accept, set it before bids come in, so the rule is fixed in advance.
Common questions
What is a sealed-bid auction?
Each bidder submits a price without seeing other bids, and the highest bid wins when the auction closes. Bids and the leader stay hidden from other bidders until the end.
Can bidders see each other's bids in BidKing?
No. On a sealed lot each bidder sees only their own bids, and the leader and leading amount stay hidden from other bidders until the lot ends. The admin can see all bids.
What happens on a tie?
The earlier bid stands. A later bid has to be strictly higher to take the lead.
Can I set a minimum price?
Yes. Set a lowest bid allowed so no bid below it is taken, or a reserve so the lot ends without a sale if the highest bid falls short.