= Dutch auction
{wiki=Dutch_auction}
A Dutch auction is a type of auction where the auctioneer starts with a high asking price and then systematically lowers the price until a bidder accepts the current price. The process continues until the item is sold or the auctioneer decides to stop. This auction format is different from a traditional English auction, where the price starts low and bidders compete by raising the bid. Dutch auctions are commonly used for selling multiple identical items or in situations where speed is essential, as they can finalize a sale quickly.
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