Dutch E-auction
An e-auction is an auction conducted online, typically in real time. The term may refer to a particular type of auction, such as a Dutch auction, or it may simply indicate that the auction is being conducted electronically.
In a Dutch auction, the price of the item being sold is gradually lowered until someone expresses interest in buying it; at that point, the auction ends and the item is sold to the highest bidder. This type of auction can be used for procuring goods or services.