You’re organizing a popular and well-attended charity auction. A local artist has donated a sculpture that you believe will be popular with some bidders but may not be universally valued. Attendees have indicated that they would like for their bids to be private. How would you structure the auction in order to try to get the highest possible profit on this piece?

 
 
 
 
 
 

First-price sealed bid auctions work well when there’s a lot of variance in the private valuations.