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 C60 on their own, and replaced the Peugeot engines with 5-litre Judd GV5 V10s. In 2005, Courage ran two updated versions of the C60 (known as the C60 Hybrid, and using the Judd GV4 engines) as a factory effort; Pescarolo also updated their C60s into a similar Hybrid format, and took second at the 2005 and 2006 24 Hours of Le Mans, whilst also winning the Le Mans Series in both years. In 2006, the all-new Courage LC70 was introduced by Courage, and Pescarolo introduced their 01 in 2007. In 2000, Courage Compétition introduced the C60 as a clean-sheet replacement