Dutch auction the bid, and pays $10,000 for the car. Dutch auctions are a competitive alternative to a traditional auction, in which customers make bids of increasing value until nobody is willing to bid higher. Some financial commentators and some third-party auction sites use "Dutch auction" to refer to second-price auctions, which work differently from Dutch auctions. The United States Department of the Treasury, through the Federal Reserve Bank of New York (FRBNY), raises funds for the U.S. Government using a Dutch auction. The FRBNY interacts with primary dealers, including large banks and broker-dealers who submit bids on behalf of themselves and
Courage C60 Courage C60 The Courage C60 was a Le Mans Prototype (LMP) racing car built by Courage Compétition in 2000, and used in international sports car races until 2006. A replacement for the Courage C52, it was Courage's first all-new prototype since the Courage C41 was built in 1994. It was initially fitted with a 4-litre naturally-aspirated Judd GV4 V10 engine in 2000, and run by SMG Compétition. In 2001, Pescarolo Sport began using a 3.2-litre twin-turbocharged Sodemo-Peugeot A32 V6 engined version of the car, and the Peugeot-engined versions would prove to be the most successful. In 2004, Pescarolo redeveloped the