Where one buys at the lowest prices (5,7)
I believe the answer is:
dutch auction
'where one buys at the lowest prices' is the definition.
The definition suggests a singular noun which matches the answer.
'where one buys at the' is the wordplay.
I cannot really understand how this works, but
'one' could be 'i' (Roman numeral) and 'i' is located in the answer.
'at' could be 'on' (location) and 'on' is present in the answer.
'the' could be 't' (the is pronounced as a 't' sound in some dialects) and 't' is found within the answer.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for dutch auction that I've seen before include "At which prices are gradually lowered" , "for lots in Amsterdam?" , "progressively lower prices" , "Where the price bid is lowered by stages" .)