The Hidden Cost of Sealed Bids
Sealed bid auctions have been the default for decades. But "the way we've always done it" comes with a price:
Limited reach means limited returns. Sealed bids typically attract 3-5 local bidders. That backhoe sitting in your yard? There's a contractor three states away who needs it—but they'll never see your sealed bid notice in the local paper.
One-shot bidding kills competition. With sealed bids, each bidder guesses what others might pay—and usually guesses low. There's no mechanism for competitive pressure to drive prices up.
Manual processes drain staff time. Paper submissions, bid tabulations, compliance documentation. Your team spends hours on process instead of results.
The math is simple: Fewer bidders + no competition = lower sale prices.
