In article , Mike Mitchell
wrote:
And it is this one significant feature that makes it grossly unfair,
in my opinion. It is a method for cheating buyers out of their
hard-earned wherewithal instead of playing fair with them. Question:
If this is such a wonderful system, why are new homes not sold in
this manner? Why are eggs, butter, bread, milk, cars, boats, trains,
or planes not sold in this manner? What other material good can you
name that keeps the price a secret that you have to guess?

I think you'll find that sales by sealed bid tender are not at all
uncommon where you are selling something that it is not easy to put an
exact value on. I certainly don't see any case for moral outrage: no
one makes you put in a higher bid than you wish and you're not tempted
to do so in the heat of the moment as with an auction.



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