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What (who) is Dutch auction - definition
TYPE OF AUCTION WHICH BEGINS WITH A HIGH ASKING PRICE, AND LOWERS IT.
Dutch Auction; Descending auction; Doordraaien; Open descending-bid auctions
Dutch auction
¦ noun a method of selling in which the price is reduced until a buyer is found.
auction
PROCESS OF BUYING AND SELLING GOODS OR SERVICES BY OFFERING THEM UP FOR BID, TAKING BIDS, AND THEN SELLING THE ITEM TO THE HIGHEST BIDDER
Auctioneer; Dutch 20auction; Auctions; Silent auction; Auctioneers; Auction house; Highest bidder; Auction houses; Mystery auction; Prominent auction; General merchandise auction; General Merchandise Auction; Suggested Opening Bid; Sealed-bid auction; Auctioneering; Auction date; Auction Date; Sealed bid; Sealed-bid auctions; Auction process; Auction ring; Auction block; Silent auctions; White glove sale; Rafter bidding; Chinese auction; Amsterdam auction; Anglo-Dutch auction; Simultaneous ascending auction; Simultaneous Ascending Auction; Best/not best auction; Rank auction; Traffic-light auction; Suggested opening bid; Auction House
n.
1) to hold an auction
2) an auction takes place
3) to put smt. up for auction
4) a public auction
5) at (an) auction; by auction (we bought these items at an auction; they sold their house by auction)
auction
PROCESS OF BUYING AND SELLING GOODS OR SERVICES BY OFFERING THEM UP FOR BID, TAKING BIDS, AND THEN SELLING THE ITEM TO THE HIGHEST BIDDER
Auctioneer; Dutch 20auction; Auctions; Silent auction; Auctioneers; Auction house; Highest bidder; Auction houses; Mystery auction; Prominent auction; General merchandise auction; General Merchandise Auction; Suggested Opening Bid; Sealed-bid auction; Auctioneering; Auction date; Auction Date; Sealed bid; Sealed-bid auctions; Auction process; Auction ring; Auction block; Silent auctions; White glove sale; Rafter bidding; Chinese auction; Amsterdam auction; Anglo-Dutch auction; Simultaneous ascending auction; Simultaneous Ascending Auction; Best/not best auction; Rank auction; Traffic-light auction; Suggested opening bid; Auction House
(auctions, auctioning, auctioned)
Frequency: The word is one of the 3000 most common words in English.
1.
An auction is a public sale where goods are sold to the person who offers the highest price.
Lord Salisbury bought the picture at auction in London some years ago...
N-VAR: oft for/at N, N n
2.
If something is auctioned, it is sold in an auction.
VERB
Wikipedia
Dutch auction
A Dutch auction is one of several similar types of auctions for buying or selling goods. Most commonly, it means an auction in which the auctioneer begins with a high asking price in the case of selling, and lowers it until some participant accepts the price, or it reaches a predetermined reserve price. This type of price auction is most commonly used for goods that are required to be sold quickly such as flowers, fresh produce, or tobacco. A Dutch auction has also been called a clock auction or open-outcry descending-price auction. This type of auction shows the advantage of speed since a sale never requires more than one bid. It is strategically similar to a first-price sealed-bid auction.
Examples of use of Dutch auction
1. About 60 per cent of the global flower trade passes through Dutch auction houses.
2. A Dutch auction will be held today, at which investors will announce the minimum maturity they will accept.
3. When it went public last year, for instance, it sold its shares through a version of a Dutch auction, pushing aside the norms of Wall Street.
4. The internet search and advertising company made its stockmarket debut a year ago through a controversial initial public offering where its original share price of $85 was set through an online Dutch auction.
5. The childs financial future was assured after newspaper rights to articles and photographs were sold by Dutch auction to Associated Newspapers, publishers of the Daily Mail and London Evening News.