Dutch auction

A Dutch auction is a type of auction where the auctioneer starts with a high price that gradually decreases until a buyer accepts the current price. Unlike traditional auctions, where bidding starts low and increases, participants in a Dutch auction must act quickly as the price drops. This method encourages swift decision-making among buyers and can lead to a sale at a price that reflects the urgency of the moment. Dutch auctions are commonly used for selling flowers in the Netherlands and can also apply to various goods and financial securities.