What does sealed bid mean?
Definitions for sealed bid
sealed bid
This dictionary definitions page includes all the possible meanings, example usage and translations of the word sealed bid.
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Wiktionary
sealed bidnoun
A cost estimate, or a proposal to buy something, the value of which is kept secret from competitors until all such bids have been made.
Wikipedia
sealed bid
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory. The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than the previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically.Auctions are applied for trade in diverse contexts. These contexts include antiques, paintings, rare collectibles, expensive wines, commodities, livestock, radio spectrum, used cars, real estate, online advertising, vacation packages, emission trading, and many more.
Numerology
Chaldean Numerology
The numerical value of sealed bid in Chaldean Numerology is: 1
Pythagorean Numerology
The numerical value of sealed bid in Pythagorean Numerology is: 7
Translations for sealed bid
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"sealed bid." Definitions.net. STANDS4 LLC, 2024. Web. 18 Mar. 2024. <https://www.definitions.net/definition/sealed+bid>.
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