Dutch auction the bid, and pays $10,000 for the car. Dutch auctions are a competitive alternative to a traditional auction, in which customers make bids of increasing value until nobody is willing to bid higher. Some financial commentators and some third-party auction sites use "Dutch auction" to refer to second-price auctions, which work differently from Dutch auctions. The United States Department of the Treasury, through the Federal Reserve Bank of New York (FRBNY), raises funds for the U.S. Government using a Dutch auction. The FRBNY interacts with primary dealers, including large banks and broker-dealers who submit bids on behalf of themselves and
Auction bridge Auction bridge The card game auction bridge, the third step in the evolution of the general game of bridge, was developed from straight bridge (i.e. bridge whist) in 1904. The precursor to contract bridge, its predecessors were whist and bridge whist. Auction bridge trick scoring, bonus scoring, and penalty scoring are radically different from contract bridge, and there is no concept of vulnerability in auction bridge. Bidding rules are nearly the same, although in contract bridge bidding many complex artificial bids and bidding systems have evolved. It is not certain to whom auction bridge should be credited. A letter in