Sealed bid
In a sealed-bid sale each party submits one secret figure, all bids are opened at the same moment, and the highest above the minimum value wins.
What it is, why it matters when bidding, and a worked example.
Unlike an electronic auction there is no incremental bidding and no visibility into what others offered: you submit one proposal, in a sealed envelope or by the electronic route specified, together with the required deposit, and wait for the public opening on the date stated in the notice. It is the format typical of sales advertised on Citius.
The strategic consequence is that there is no second chance. In an electronic auction you can react to someone else's bid; here, a proposal €500 below the winner loses exactly as a proposal €50,000 below would. That changes the method: instead of choosing an entry figure, you compute the maximum the property justifies and offer that.
That maximum is not a guess. It is derived from an estimate of market value, less acquisition costs (IMT, Stamp Duty, fees), less the works needed, less the margin that compensates the risk taken on. Bidding above it wins the auction and loses the deal.
Example
A flat with a €62,000 minimum receives four proposals: €62,500, €68,000, €71,200 and €71,900. The €71,900 wins, by €700. The other three recover their deposits. Someone who had calculated a €74,000 maximum and offered €68,000 "so as not to overpay" lost by a margin they will not get back.
Frequently asked questions
Can I improve my bid after submitting it?
No. The proposal is single and secret until the opening. That is precisely why you submit the maximum the property justifies, not a probing figure.
What happens if two bids tie?
The case's conditions of sale set the tiebreak, which may involve live bidding between the tied parties present at the opening.
Related terms
Go deeper
From registration to title: the steps to buy at auction without surprises.
Read the full guide