“It seemed doomed almost from the moment they decided to go to a sealed bid,” Judge Lopez said. “Nobody knows what anybody else is bidding,” he added.
3 points
https://en.wikipedia.org/wiki/Vickrey_auction
There are numerous formats of auction. I don’t think a Vickrey auction is what they did, but it is an example of a sealed auction format that is well supported as legitimately and efficiently maximizing value for the seller.
