A Dutch Auction is a unique bidding process where the auctioneer starts with a high price that gradually decreases until a buyer accepts the current price. This method encourages quick decision-making, as bidders must act fast to secure the item before someone else does. It’s often used for selling perishable goods, like flowers or fish, where time is of the essence. In contrast to traditional auctions, where bidders compete by raising their offers, a Dutch Auction allows buyers to grab a deal as soon as they feel the price is right. This approach can lead to faster sales and is popular in various markets, including art and real estate.