Dutch Auctions.

Horowhenua Chronicle, 27 June 1910, Page 4

Dutch Auctions.

Thoro has been snnie dificusp,io;n coiiceniing the adoption alt TiOjidcHi. property sales, of tho ■nmtliod known as the Dutch auction, ropaixHiiK which—as one auctioneer remarked who was conducbing such ,a sa^le— "it has been suggested that tlienmv method does not tend to elevate .the status of the profession." it i.s unnecessary to point out, says an East Enid of London weekly iiew.spa»por, that iu referring to Dutch aucti:ons as "new," the speaker only intended to convoy 'th.at "thoy wero now to auctioneers, and to the London, Mart. They have long Iwii the practice with "cheap Jacks," who have probably beem a good doal influenced by the impression that a sale which progressed down,wa.rd.s. could not -by any stre-tcli of terms be as an increasing ,sah\ which .is the literal and accepted. mien.nii.iiig :of itHio wortl mid that in oonsequoivce they could not bo required to take out hVjnses. Of cotH'se, some credit is due.to anybody who discovers a new method oi doing business, which is perfectly honest, or wlio gives t'o am ol;l methotl a new form, but the view wfliich this gentleniaii traversed is very likely to bo tlie one en/tertaiiK .1 by itho imajoi-ity of people. The auctioneer's r'omark that 'of luis aiu';oiHiei referred] to the liirftory and o:i----gin of the words, they would find, nothing unsavoury a'l)out them, does not seom to advance the matter VOl7 inudi. Dr 15raver, who is an authority on such curious points, explains that "Diitcli gold is no gold at aill, but mere lmbbu.V, and Dultch courage is no re.nl courage; Dutch concert is no niiiaie at all. l)iiit mere liubbu'b; and Dutch auction is no auction, or increase of ibids, buttcqiiite the contrary." A.iwl in Webster's dictionary we read merely: "Dutch auction,' the nublic offer of property a.t a price beyond its value, then grnd.ua.lly Weriiiip, the price till someone accept it as ■a purchaser."