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

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 • May 1, 2022

Enter buybacks and tender offers, such as the Dutch auction for up to $7.5 billion in stock that AbbVie Inc. began at the beginning of May.

From Los Angeles Times • May 28, 2018

The process will start off similar to a Dutch auction, in which values are set at a high level and then diminish until the FCC gets the licenses it needs at the lowest possible price.

From The Wall Street Journal • Jan. 6, 2016

In hindsight, that offering in 2004 didn’t work out so well, and the Dutch auction never became the future of tech I.P.O.s.

From New York Times • Apr. 1, 2015

Dutch auction, the public offer of property at a price beyond its value, then gradually lowering the price, till some one accepts it as purchaser.

From Webster's Unabridged Dictionary (2nd 100 Pages) by Webster, Noah