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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (6385)	6/15/1999 12:21:00 PM
From: Zardoz	Respond to of 81193

Reverse Dutch Auction. Dutch Auction: The Dutch auction was developed in the 17th century in Amsterdam for the sale of fresh flowers and is different from conventional auctions in that the price of the goods on offer descends and all bids are immediately successful. In a Dutch auction the auctioneer begins at a high price, the price then descends by steps until a bidder indicates their intention to buy at the price level reached. The successful bidder then nominates all or part of the goods on offer. If any goods remain in the current lot, the auctioneer increases the offer price by a predetermined amount and then resumes the auction. The auction continues in this fashion until either the current lot is exhausted or its reserve price is reached. Central to the Dutch auction is a large electronic or mechanical clock which shows the current offer price. During the auction this clock shows the offer price descending and then kicking up when a bid is made and then descending again. cs.flinders.edu.au Reverse Dutch Auction: Only when significant bids & size have been accumulated to buy the total outstanding volume, does a sale take place. But this system has the right of withdrawl if the stake price is not hit. We will sell, but above a minimum price of $XYZ.. but when we sell, it's all at the same price, reguardless of the bid made.