What is a Dutch Auction?

Correct answer: Auction where the price is reduced until a buyer is found.

Next question

Try the best trivia game

Download on the App Store Get it on Google Play
What people think about it: 8 Comments
JellyBaker
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
Guitarfan 5
Many car auctions are held in Dutch auction style.
SPRITE
SPRITE
JellyBaker, Did you see the word "whereby"?? Also, "whereby" could simply be replaced with word "where"
wanderer
wanderer
new info for me.thanks
lugbúrz
lugbúrz
What happens if more than one prospective buyer accepts a price?
Leebo13
Leebo13
JellyBaker, the problem is that while it's implied, it isn't explained.
Gold Biscuit
Gold Biscuit
JellyBaker, poorly worded, I agree
Tom
Tom
I knew the answer but 'Auctions held in the Netherlands' is also right?