Dutch Auction

In a Dutch auction, the auctioneer begins with an exceptionally high asking price for the item being sold, and then lowers it until some buyer is willing to accept the auctioneer’s asking price. This is in contrast to an English auction, in which the buyers bid progressively higher prices until only one buyer is left. The Dutch auction is so named because these rules have been used for centuries in the cut flower and produce markets in Holland.

KWHS Term Suggestion

Is there a term you would like defined? Suggest it here: