Who buys the bidding procedure? Is it the main lender or someone instated by the main lender? That would certainly create an incentive for maximising uncertaint

Who buys the bidding procedure? Is it the main lender or someone instated by the main lender? That would certainly create an incentive for maximising uncertainty if there are other lenders the profits will be shared with. But the mechanism mentioned in sibling comments is even stronger: if there is a clear main lender and your limit is lower than the known lowest limit of the main lender, you won't bother bidding.