General comments/chat, page-34350

The old Dutch Auction. The Sydney Fish Markets used the lowest bid Dutch Auction system for a very long time. I'm not sure they do anymore as I think they have gone digital. Auctioneers sometimes use it. I use to buy second hand IT equipment from Grays back in the pre-online auction days and those were lowest bid Dutch Auctions too. In the case of the fish markets Dutch Auction makes sense because the fishermen need to clear their stock. They can't put it back in van and try again for a better price tomorrow. In the case of the IT markets they made sense when they needed to clear say a quantity of twenty of the same item (ex-commercial lease) and it would take all day to auction off each item individually to the highest bidder.

https://www.investopedia.com/terms/d/dutchauction.asp