Originally Posted by prbhat_gen
"Secret" was perhaps an unfortunate choice of words. I meant "sealed-bid auctions" as in many commercial auctions. That kind of auction I am sure cannot be generally illegal. The final outcome will be public, but till all the sealed bids are opened -- for fairly honourable economic reasons -- secrecy of each sealed-bid needs to be preserved.
If it's an open auction (as for Corus Steel that Tata bid successfully on) then each bidder whose bid is revealed must have the right to bid again, at least till some agreed upon deadline if any. Best,