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Phrase(s): Dutch auction an auction or sale that starts off with a high asking price that is then reduced until a buyer is found. (Viewed by some as insulting to the Dutch.) • Dutch auctions are rare—most auctioneers start with a lower price than they hope to obtain. • My real estate agent advised me to ask a reasonable price for my house rather than get involved with a Dutch auction.
McGrawhill's American Idioms And Phrasal Verbs