Highest and best bid..

[Walmsley Gedeon]

I'm currently bidding on a property in which I was asked for my highest and best. I haven't closed on my first deal yet so this part always gets me nervous. It's not my first bidding war but it's obvious I've lost all my others being that I have yet to close on a property. I wanted to ask the community how do you place a good enough bid when you don't know what others are bidding on the property? How do I not price myself out or over pay with my bid? How am I supposed to assess this? Are they required to tell me what the other bids are? I have until Friday 23rd. Any advice would be greatly appreciated. Thanks all!