Auction Dutch

A Dutch auction is one of many similar types of auctions for the purchase or sale of goods. Most often this means an auction in which the auctioneer starts with a high asking price in the event of a sale, and lowers it until a participant accepts the price, or until it reaches a predetermined reserve price. This type of auction has the advantage of speed since a sale never requires more than one bid

Before the start of the auction, the auctioneer presents the bidders with information about the items sold. This information is displayed on a clock.