Sealed-Bid Auction

A sealed-bid auction is a process where all bidders place their bids on the lot bidding page, unknowing of what the other has proposed for the item. In this type of bid auction, the highest proposal is usually the winning position.

In this auction type, bidders can get to drop more than one proposal on the same item. For each of the bidder’s  proposal, the bidder will get notified by email. This gives our website a completely different auction experience for registered users.  The winning bid will not be shown until the auction closes.

Dutch Auction

A Dutch auction is a type of auction process where as time progresses, the price of an item ticks down in price increments until a bid is placed. The first person to place a bid is the winner if assuming there is no reserve price or the price is above or equal to the reserve price.