The Sydney Fish Market is the second largest in the world. It's not really a consumer destination but we went ahead and checked it out anyway. By law, fishermen have to land 100% of their catch, meaning they're not allowed to throw stuff back into the water. In order to help them sell all of the fish - the Fish Market conducts a daily auction. Every morning at 5:30 am dozens of buyers come in and bid on fresh catch for their respective clients (chefs, restaurants, etc.)
They use a Dutch auction model which is pretty interesting. The fish of choice is displayed and the price per kilogram counts down. When a buyer wants to buy he pushes the button to stop the price and enters how many kg he wants. The longer he waits, the cheaper the cost becomes, but he is at risk of another buyer jumping in and buying what he wants.
If you look at the picture, the buyers on sitting in the stadium seating on the bottom right and they are watching the clock where each cycle represents one aussie dollar.
