Definitions

from The American Heritage® Dictionary of the English Language, 5th Edition.

  • noun An auction in which an item is initially offered at a high price that is progressively lowered until a bid is made and the item sold.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

  • noun an auction where many of the same item are sold.
  • noun a reverse auction that starts at a high price that is gradually reduced by the auctioneer until someone is willing to buy

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

  • noun a method of selling in which the price is reduced until a buyer is found

Etymologies

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Examples

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Comments

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  • 'An auction in which the auctioneer starts with a high price, which he gradually lowers till he meets with a bidder.' R. Hunter

    June 13, 2010