Summary: A new approach for electronic sealed-bid auctions that preserve the privacy of losing bids is presented. It reduces the number of operations performed by the auctioneers to O(log ); previous protocols require O(N ) or O(N log ) where the number of bidders is N and that of available bidding prices is . Namely, the number of auctioneers' operations in our auction protocol is independent of the number of bidders. This feature offers strong advantages in massive auctions. We also propose a new scheme that checks the equality of two values without disclosing them. The scheme enhances our basic auction protocol, in terms of security and communication costs.