Dutch auction
Host this auctionThe seller starts with a high asking price and lowers it until a bidder accepts. That bidder buys the item at the displayed price, and the auction ends. Other bidders cannot then make a higher offer.
Try the falling price
The ticket is worth $80 to you. Accept a price to buy the ticket before another bidder does.
Choosing when to buy
Waiting for a lower price means taking a chance that another bidder will buy first. You do not get to make a counteroffer after someone accepts.
Choosing when to accept is similar to choosing a first-price sealed bid. Paying more improves your chance of buying the item. A lower price gives you a better deal if you succeed.
Selling quickly
A single acceptance completes the sale, with no further rounds of competing offers. Descending clocks are associated with the Dutch flower trade, where auctions need to move through a large supply of flowers and plants quickly.
For a group auction, this puts more responsibility on buyers to stay attentive. Someone who looks away can miss the entire sale. The starting price, size of each drop, and time between drops determine how much time people have to decide.
Host this auction
Set those price steps and the lowest price you will accept. The price holds at that minimum until the time limit. The first acceptance received by the room wins; if none arrives, the item remains unsold.