Do you think the no-reserve auction works for yachts?

你认为无底价拍卖对游艇有用吗？

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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。

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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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TAF The Term Auction Facility or TAF was created by the Federal Reserve under Bernanke on December 12th.

货币短期拍卖-或者说,是于十二月十二日,由伯南克领导的联邦储备银行发明的。

耶鲁公开课 - 金融市场课程节选

Five day auction, no reserve.

ENGADGET: PlayStation 3 charity auction -- 4 days left!

On December 11, 2012, Glenfiddich will partner with The World Resources Institute (WRI), for the final auction of Janet Sheed Roberts Reserve in Los Angeles.

FORBES: Record-Breaking Single Malt Whisky Auction December 11

Halahmy agreed to host a show and silent auction for the smuggled works with reserve prices set by the artists.

FORBES: Smart Collecting