<P> A Dutch auction is one of several similar kinds of auctions . Most commonly , it means an auction in which the auctioneer begins with a high asking price , and lowers it until some participant accepts the price , or it reaches a predetermined reserve price . This has also been called a clock auction or open - outcry descending - price auction . This type of auction is good for auctioning goods quickly , since a sale never requires more than one bid . Strategically , it 's similar to a first - price sealed - bid auction . </P>
<P> A Dutch auction is one of several similar kinds of auctions . Most commonly , it means an auction in which the auctioneer begins with a high asking price , and lowers it until some participant accepts the price , or it reaches a predetermined reserve price . This has also been called a clock auction or open - outcry descending - price auction . This type of auction is good for auctioning goods quickly , since a sale never requires more than one bid . Strategically , it 's similar to a first - price sealed - bid auction . </P>
who determines the offer price in a dutch auction
who determines the offer price in a dutch auction
the auctioneer
the auctioneer