Private hides biders ID's from others, only you the seller can see who they are bit like a real life auction where bidders try not to give away to competitors that they are bidding.
For eBay auctions, I don't like it, I prefer as a bidder to know who else is bidding, hiding the others I regard with suspicion, is it their mates bumping up the price or actual buyers.
So IMO leave private unticked, good night Deb
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