from Wiktionary, Creative Commons Attribution/Share-Alike License

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

from the GNU version of the Collaborative International Dictionary of English

  • adj. See under Auction.
  • n. the public offer of property at a price beyond its value, then gradually lowering the price, till some one accepts it as purchaser.

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

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


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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