At a Dutch auction an auctioneer offers ‘lots’ for sale, as in a normal auction.
When the first bid is placed s/he starts a timer that is kept secret from the audience.
If the first bid is £1, a steward collects the pound from the bidder in a box.
The next bid may be £1.50, but instead of collecting £1.50, the steward will collect only the 50p increase.
The next bidder may bid £2.50, but only pay £1 to make up the difference from £1.50.
When the timer rings, the bidding stops. The person who made the last bid has the goods.
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