Sealed-bid Auction Format

[Miamaska]

A suggestion to add an alternative to the open bid format. Allowing sealed-bid auctions would have a few benefits, and would look something like this:

 

- An item is posted with a sealed minimum price and a set duration.

- Within that duration people can join, anonymously, with a single offer that will qualify those that meet or exceed the min. price set.

- Once the duration is up, the auction concludes and the winning bid is posted.

 

 

This would give more reason to bid strong as you only get one shot, while giving people with weaker wallets a better chance against big fish. This would also be managed by a discord bot to take management out of the hands of players. Surely there's more to consider and arguments against my suggestion. But a discussion on the topic might prove fruitful to the quality of future auctions.

[Lugario]

No.