By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 04/09/2026Under an SBSPA, bidders secretly tell the auctioneer the *very highest price* they're willing to pay. The auctioneer then charges the highest bidder a price equal to the *second-highest* bid, plus one cent. 54/ 11024
By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 04/09/2026This may seem unnecessarily complicated, but it's actually a clever solution to one of the major problems with traditional, "open call" auctions (where bidders call out the prices they're willing to pay until one bid emerges victorious). 55/ 1974
By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 04/09/2026Say you're at an open call auction where the top bid is $10. You can call out $11, and then the other person will call out $12, and so on and so on. It's tedious and time-consuming. 56/ 1944
