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Definition of Dutch auction noun from the Oxford Advanced Learner's Dictionary

Dutch auction

noun
 
/ˌdʌtʃ ˈɔːkʃn/,
 
/ˌdʌtʃ ˈɒkʃn/
 
/ˌdʌtʃ ˈɔːkʃn/
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  1. a sale in which the price of an item is reduced until somebody offers to buy it
See Dutch auction in the Oxford Advanced American Dictionary
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