NEGOTITATOR

AUCTION:
System of selling that puts maximum pressure on buyers.
In regular auction buyers call out their bids in an ascending order. The last bidder wins.
In a DUTCH AUCTION the first bidder wins. The auctioneer calls prices in a descending order (but see also common misuse of this term).

In a “vickery sealed-bid auction” the highest bidder wins at the second highest bidder’s