Dutch auction

American  

noun

1. a method of auction consisting in the offer of a property at a price above the actual value and then at gradually reduced prices until a buyer is found.

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Dutch auction British  

noun

1. an auction in which the price is lowered by stages until a buyer is found

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Etymology

Origin of Dutch auction

First recorded in 1860–65

Example Sentences

Mordaunt has pitched herself as the candidate for change who can steer the economy through multiple challenges by avoiding "an uncovered Dutch auction of tax cuts".

From Reuters

It said it would ditch the popular Dutch auction style of minting, in which an NFT goes up for sale at a certain ceiling price and is then incrementally lowered over time.

From The Verge

There are many ways to stage them: for example, in a so-called “English auction” the item on offer simply goes to the highest bidder; whereas in a “Dutch auction” the selling starts from a high price, and bidders submit the price they are willing to pay.

From Nature

The company acquired nearly 10% of its outstanding stock from investors through a modified Dutch auction.

From Washington Times

The sale was a blind auction — known on Wall Street as a Dutch auction — in which bidders commit to the maximum they would be willing to pay.

From Los Angeles Times