Dutch auction

Dutch auction

noun
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:
1860–65
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2012.
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Dutch auction is always a great word to know.
So is callithumpian. Does it mean:
a children's mummer's parade, as on the Fourth of July, with prizes for the best costumes.
an arrangement of five objects, as trees, in a square or rectangle, one at each corner and one in the middle.
Collins
World English Dictionary
Dutch auction
 
n
an auction in which the price is lowered by stages until a buyer is found

Collins English Dictionary - Complete & Unabridged 10th Edition
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