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3 definitions found
 for Dutch auction
From The Collaborative International Dictionary of English v.0.48 :

  Auction \Auc"tion\, n. [L. auctio an increasing, a public sale,
     where the price was called out, and the article to be sold
     was adjudged to the last increaser of the price, or the
     highest bidder, fr. L. augere, auctum, to increase. See
     Augment.]
     1. A public sale of property to the highest bidder, esp. by a
        person licensed and authorized for the purpose; a vendue.
        [1913 Webster]
  
     2. The things sold by auction or put up to auction.
        [1913 Webster]
  
              Ask you why Phryne the whole auction buys ? --Pope.
        [1913 Webster]
  
     Note: In the United States, the more prevalent expression has
           been "sales at auction," that is, by an increase of
           bids (Lat. auctione). This latter form is preferable.
           [1913 Webster]
  
     Dutch auction, the public offer of property at a price
        beyond its value, then gradually lowering the price, till
        some one accepts it as purchaser. --P. Cyc.
        [1913 Webster]

From The Collaborative International Dictionary of English v.0.48 :

  Dutch \Dutch\, a. [D. duitsch German; or G. deutsch, orig.,
     popular, national, OD. dietsc, MHG. diutsch, tiutsch, OHG.
     diutisk, fr. diot, diota, a people, a nation; akin to AS.
     pe['o]d, OS. thiod, thioda, Goth. piuda; cf. Lith. tauta
     land, OIr. tuath people, Oscan touto. The English have
     applied the name especially to the Germanic people living
     nearest them, the Hollanders. Cf. Derrick, Teutonic.]
     Pertaining to Holland, or to its inhabitants.
     [1913 Webster]
  
     Dutch auction. See under Auction.
  
     Dutch cheese, a small, pound, hard cheese, made from skim
        milk.
  
     Dutch clinker, a kind of brick made in Holland. It is
        yellowish, very hard, and long and narrow in shape.
  
     Dutch clover (Bot.), common white clover ({Trifolium
        repens), the seed of which was largely imported into
        England from Holland.
  
     Dutch concert, a so-called concert in which all the singers
        sing at the same time different songs. [Slang]
  
     Dutch courage, the courage of partial intoxication. [Slang]
        --Marryat.
  
     Dutch door, a door divided into two parts, horizontally, so
        arranged that the lower part can be shut and fastened,
        while the upper part remains open.
  
     Dutch foil, Dutch leaf, or Dutch gold, a kind of brass
        rich in copper, rolled or beaten into thin sheets, used in
        Holland to ornament toys and paper; -- called also Dutch
        mineral, Dutch metal, brass foil, and bronze leaf.
        
  
     Dutch liquid (Chem.), a thin, colorless, volatile liquid,
        C2H4Cl2, of a sweetish taste and a pleasant ethereal
        odor, produced by the union of chlorine and ethylene or
        olefiant gas; -- called also Dutch oil. It is so called
        because discovered (in 1795) by an association of four
        Hollandish chemists. See Ethylene, and Olefiant.
  
     Dutch oven, a tin screen for baking before an open fire or
        kitchen range; also, in the United States, a shallow iron
        kettle for baking, with a cover to hold burning coals.
  
     Dutch pink, chalk, or whiting dyed yellow, and used in
        distemper, and for paper staining. etc. --Weale.
  
     Dutch rush (Bot.), a species of horsetail rush or
        Equisetum+({Equisetum+hyemale">Equisetum ({Equisetum hyemale) having a rough,
        siliceous surface, and used for scouring and polishing; --
        called also scouring rush, and shave grass. See
        Equisetum.
  
     Dutch tile, a glazed and painted ornamental tile, formerly
        much exported, and used in the jambs of chimneys and the
        like.
        [1913 Webster]
  
     Note: Dutch was formerly used for German.
           [1913 Webster]
  
                 Germany is slandered to have sent none to this
                 war [the Crusades] at this first voyage; and that
                 other pilgrims, passing through that country,
                 were mocked by the Dutch, and called fools for
                 their pains.                       --Fuller.
           [1913 Webster]

From WordNet (r) 3.0 (2006) :

  dutch auction
      n 1: a method of selling in which the price is reduced until a
           buyer is found

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