Why sealed bids?

Why do I offer items for “sealed bid” rather than at a fixed price?  Simple, I REALLY want to sell them!

There is an old saying: “Something is worth what someone is willing to pay for it.”  This is very true, however that knowledge resides solely with the buyer, not the seller.

Here is an example: I had a very nice condition, high quality spinet piano for sale.  Research showed that it ought to be worth about $1,500. Since I needed to sell it, I probably would have offered it at fixed price for around $500.  Instead, I offered it for “sealed bid”.  I had over a dozen offers, none of them anywhere near $500.  I sold it (which is what I wanted) for the best offer, and the buyer got it for their price (which is what they wanted) and was thrilled!  If I had offered it at a set price of $500, neither of us would have gotten what we wanted.