Auction theory offers an argument that a secret reserve price is better.
拍卖理论提出一种看法，认为保留价格保密更好。
Many pieces that fail to achieve their reserve price at auction are quietly sold afterwards in “private-treaty” deals negotiated by the auction houses.
许多在拍卖行无法卖出其最低价格的艺术品，之后便会在台下悄悄地按照“私人协定”交易来完成，拍卖行则会充当协商方。
Many pieces that fail to achieve their reserve price at auction are quietly sold afterwards in “private-treaty” deals negotiated by the auction houses.
许多在拍卖行无法卖出其最低价格的艺术品，之后便会在台下悄悄地按照“私人协定”交易来完成，拍卖行则会充当协商方。
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