A broad auction is a process to attract as many bidders as possible. The broad auction bidding method can cause the value of the company to increase as bidders compete against one another for the acquisition of the company. This benefits the seller as it seeks to find the highest value for the company. The process of a broad auction can be lengthy as each potential bid is carefully evaluated for the acquisition of the business. It is also more difficult to maintain confidentiality when a larger number of bidders are included in the sales process.