METHOD OF SEALED BIDS

N players will compete for a discrete asset(s).

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Step 1 - each player will bid secretly on the asset(s). (typically sealed in secret)

Step 2 - all at once, the sealed bids are opened, the highest bid will receive the asset.

Step 3 - the winner (highest bid) will pay the estate N-1/N % of their bid.

Step 4 - each loser will receive 1/N % of their bid for the asset. This is the fair share.

Step 5 - typically, a surplus occurs. Divide the surplus evenly among each player.

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For example,

Three siblings: A, B, and C, bid for a painting left behind by their deceased mother. The sealed bids for the painting is revealed in the table on the picture. Fair shares are calculated and then distributed.