From Longman Dictionary of Contemporary EnglishDutch auctionˌDutch ˈauction noun [countable, uncountable] BBTa public sale at which the price of something is gradually reduced until someone will pay itFrom Longman Business DictionaryDutch auctionˈDutch ˌauctionCOMMERCE1an auction at which the price of something is gradually reduced until someone buys it2a system sometimes used in the US when a company buys back its shares or bonds. It sets a price range, and holders of the shares or bonds give a price at which they are willing to sell. The buyer then chooses a price and buys from holders who offered to sell at that price or lower3a system for selling a number of similar items → auction
