I think blinding the amount would send those daytraders and deal hunters packing.  You want a player, then show your money, show what you are willing to pay,and 5 minutes before the auction ends, not 20 minutes after.
What you're suggesting is, in essence, a waiver system.  The owner of a player would set a minimum bid and other users would have the chance, blindly, to submit the maximum price they would be willing to pay.  Highest bidder at the deadline wins.  To make a system like this work, you would need to have a pending waiver order list, much like what you have in a fantasy sports league.  This would be a nightmare to program for a game like this, not to mention if an idea like this was implemented, the economy would be thrown into chaos for a full season as users familiarize themselves with a totally different transfer process.  The only feature this system would have over the current one is that it would give all users a fair shot at each listed player.  But this isn't really a problem in the current system if you're willing to overbid for a player you supremely desire.
I wouldn't be opposed to the system you're suggesting, if it had been implemented in the beginning.  With regards to the TL, I have to agree with Yoda.  I'd like to see some of the draconian measures implemented to curb daytrading actually be draconian.  Namely: a higher salary floor, 11 day transfer period, and a restructuring of the transfer penalty system.  If you sell a player within the first 4 weeks of ownership, you shouldn't receive more than 66% of the transfer price.