Dutch auction
A descending-price auction — the price drops over time until the first bidder accepts. Used for batch-clearing inventory where speed matters more than price discovery.
How it works
The seller picks a starting price (often above market) and a floor. The price decreases on a fixed schedule. The first bid at any point wins at that price.
Where you’ll see it
Less common in domains than in flowers (its origin) or freight. Used occasionally for liquidating drop-catch inventory where the holder wants velocity.