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Dutch auction

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.
Origin
1860-1865
1860-65
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for Dutch auction

Dutch auction

noun
1.
an auction in which the price is lowered by stages until a buyer is found
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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11
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