Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “uniform price auction”

uniform price auction

noun [C]
 
 
(also Dutch auction)
COMMERCE a public sale in which a fixed number of similar things are sold at the same price. Each buyer asks for a particular amount and offers a particular price that they are willing to pay. The buyer that offers the most is the first to receive the goods that they have asked for, and then the goods are sold to other buyers in order, according to how much they have offered, until all the goods are gone. The price of the goods is then fixed at a level that is the same for every buyer: The sale will be conducted as a uniform price auction, and prospective buyers will be asked to submit sealed bids.
(Definition of uniform price auction from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of uniform price auction?
Add Cambridge dictionaries to your browser to your website

Word of the Day

first:

(a person or thing) coming before all others in order, time, amount, quality, or importance

Word of the Day

Countability – grammar codes

by Dom Glennon​​,
November 26, 2014
Advices and informations Have you ever noticed strange codes in square brackets on entries in Cambridge Dictionaries Online and wondered what they mean? These are grammar codes, giving you a brief summary of how that word behaves grammatically. More information can be obtained by hovering your cursor over the code, and there’s

Read More 

ped-text verb

November 24, 2014
to text someone while walking I’m ped-texting, I’m looking down at my phone, 75 percent of the time.

Read More