The fastest way to sell is to start high and keep dropping
In a Dutch auction the seller calls out a price and lowers it until the first bidder accepts — the opposite of the familiar rising-bid auction. Amsterdam flower markets still clear thousands of stems an hour this way, because raising bids one by one would be far too slow. Google used the format for its 2004 IPO, hoping it would stop underwriters from deliberately underpricing shares for favored clients.
— Paul Klemperer, Auctions: Theory and Practice — Chapter 1 (2004)
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