The person who was the last to come down? What if one of the others got the 'jump' on them, on the way down?
The one with the highest bid, ever during the process? I suppose that's the least prone to awful.
The person last to come down. If othe rplayers get the jump on you, you shouldn't have been up there in the first place. There needs to be some risk in driving the price high. Also, with this feature implemented, you will see far fewer price increases to unreasonable levels in land auctions.
The second option is also a good solution. This leaves you with two scenarios.
a. In a tie scenario at any price above the min, the winner is the lower ranked player.
b. In a tie scenario at the min price, the buyer is the player to bid highest during that land auction.
One possible exploit, what happens when a player simply has more money than the others. He could raise the price higher than any others, and then come down and be the defacto purchaser in case of a tie. This seems unlikely, but it could happen. This could be remedied if the price still only comes down a certain amount below the highest bid and never all teh way to the starting bid.