E. Cobham Brewer 1810–1897. Dictionary of Phrase and Fable. 1898.
Dutch Auction.
An “auction” in which the bidders decrease their bids till they come to the minimum price. Dutch gold is no gold at all; Dutch courage is no real courage; Dutch concert is no music at all, but mere hubbub; and Dutch auction is no auction, or increase of bids, but quite the contrary.
