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Dutch Auction

An “auction ” in which the bidders decrease their bids till they come to the minimum price. Dutch gold is no gold at all; Dutch courage is no real courage; Dutch concert is no music at all, but mere hubbub; and Dutch auction is no auction, or increase of bids, but quite the contrary.

Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
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