What is a Dutch Auction?
Correct answer: Auction where the price is reduced until a buyer is found.
JellyBaker
How can an English auction be the reverse of a Dutch auction if it ALSO starts high and reduces the price? I would think it was the Opposite - raising prices until there was a final bidder. The above explanation contradicts itself, right?
Guitarfan 5
Many car auctions are held in Dutch auction style.
Gold Biscuit
JellyBaker, poorly worded, I agree
Yusuf
Common in Japanese vehicle auctions
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JellyBaker,
Did you see the word "whereby"??
Also, "whereby" could simply be replaced with word "where"
wanderer
new info for me.thanks
lugbúrz
What happens if more than one prospective buyer accepts a price?
Leebo13
JellyBaker, the problem is that while it's implied, it isn't explained.
Tom
I knew the answer but 'Auctions held in the Netherlands' is also right?