Sorry baby, that's Vickrey...

See you in 3 days... Celebrating the launch of a new marketplace, Sealed.art! Vickrey auction: Bidders submit secret bids. The highest bidder wins but pays the amount of the second-highest bid. It encourages people to bid honestly since they won't have to pay their full bid if they win. This encourages collectors usually to place one bid, what they feel they are comfortable to pay, regardless of hype and FOMO, leading to a more natural discovery of "true value".