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A.Word.A.Day--dutch auction

Dutch auction (duch OK-shuhn) noun

An auction where a property is offered at a price beyond its value and the price is lowered gradually until someone makes a bid.

[From the popularity of this auction method in Holland.]

"In the past year, it's done $2 million in auctions, reverse auctions and Dutch auctions of livestock and grain." Jackie Cohen, Taking Care of Business, The Industry Standard, Sep 6, 1999.

This week's theme: terms employing various nationalities.

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