Dutch auction

(redirected from Dutch auctions)
Also found in: Dictionary, Thesaurus, Financial, Encyclopedia.

Dutch auction

An auction in which the asking price is set high and then lowered until someone buys the item. What is this, a Dutch auction? Why is the auctioneer starting out at $1,000 for that piece of junk?
See also: auction, Dutch

Dutch auction

an auction or sale that starts off with a high asking price that is then reduced until a buyer is found. (Viewed by some as insulting to the Dutch.) Dutch auctions are rare—most auctioneers start with a lower price than they hope to obtain. My real estate agent advised me to ask a reasonable price for my house rather than get involved with a Dutch auction.
See also: auction, Dutch