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Secret Auctions  A Secret Auction may also be known as a Blind auction. This works very similar to a Standard auction where the highest bidder wins the auction. However, in a Blind auction, all bids are hidden, the bidding process is not interactive and the bidders will only receive information on their bid ranking when the auction closes. This type of auction deters "sniping", or bidding at the last minute, because the bidder does not know what the other bids are until the auction closes. A Secret auction also differs from a Standard auction in that it does not offer a Reserve or Purchase Now price and does not utilize any Proxy bidding. |