Question:

What Is an Open Bid ?

by Guest4100  |  12 years, 8 month(s) ago

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These bids may be done through a traditional live auction, where an auctioneer calls out prices as bidders indicate their willingness to pay.

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  1. Guest3383
    An open bid, or unsealed bid, is a bid that is available for all other bidders to see and possibly act upon. These bids may be done through a traditional live auction, where an auctioneer calls out prices as bidders indicate their willingness to pay. Open bids can also be awarded for things like construction projects, where the lowest bidder often gets the contract. Some projects and sales may require an open bid and others may not.

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