Reverse-dutch-auction meaning

An auction that has one buyer and many sellers; the auctioneer raises the price from a low starting point until a bidder agrees to sell at the stated price. For example, a reverse Dutch auction could be used to find someone willing to delay travel plans on an overbooked flight. The airline raises the compensatory price until someone raises his or her hand and ends the auction. A passenger unwilling to give up his or her seat for $50 may be more likely to relinquish it for $100, $200, or higher. See Dutch auction.