A calm, bid-what-you-want-and-get-it-for-less auction, with several winners.
Single-shot, sealed-bid, secondary-price auction
Single-shot = only 1 round of voting.
Sealed-bid = other bidders never know your bid.
Secondary-price = each winning bid only pays the price of the next-lowest bid.
Example: five people (A,B,C,D,E) each want an item. There are only three units of that items.
Bidders:
A bids 8
B bids 6
C bids 4
D bids 3
E bids 1
Winners: A pays 6, B pays 4, C pays 3.