# Sealed-Bid Auction A sealed bid auction, also known as a blind auction, is a type of auction where all bidders submit their offers simultaneously, in sealed envelopes, without knowing the bids of the other participants. The highest bid wins the auction. This type of auction is typically used in situations where the items being sold are similar, and the bidders have similar information about the item's value. The auction process is conducted in a sealed bidding format and the bid is kept private until the bid opening. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.bounce.finance/bounce-auction-mechanisms/sealed-bid-auction.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.