Business, Legal & Accounting Glossary
An auction of multiple identical items in which the winning bidders pay the prices that they have bid. For a contrasting system, see ‘Dutch auction’.
A Yankee Auction is a type of Dutch Auction in which successful bidders pay the amount they bid rather than the price decided by the lowest qualifying bidder (as in a Dutch Auction). When the auction ends in this style, the highest Bidders win the available merchandise at their bid price.
A Dutch auction is a market structure in which the price of something given is established after taking into account all bids in order to arrive at the maximum price at which the entire offering can be sold. A Dutch auction is also a sort of auction in which the price of an item is gradually reduced until it receives a bid.
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This glossary post was last updated: 18th January, 2022 | 0 Views.