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Japanese Auction
(redirected from Japanese Auctions)

   Also found in: Wikipedia 0.03 sec.
Japanese Auction
A way to run an auction in which all participants must bid each new price in order to remain in competition for the item. For example, if the opening bid for a good is $500, all participants must bid $500. If the next bid is $600, anyone who does not bid $600 is eliminated. This continues until only one bidder remains. Each bidder is able to observe how many other bidders remain after each round.


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The best way of getting a great deal on a Japanese car is through Japanese auctions, particularly online auctions.
Bidding in Japanese auctions is regarded as multiple bidding--all buyers left in the auction at a certain point are presumed to have submitted a bid each time the price has been raised.
 
 
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