The decision to sell the collection without reserves means that works go to the highest bidder, regardless of market values.
"The idea to sell without reserves was made by the seller, who believes in his collection," Mr. Apostle said.
New York State law requires that at a sale without reserves the auctioneer must sell everything unless nobody is willing to pay as much as $1.
Proceeds will go to charity, and everything is being sold without reserves, the secret minimum price generally agreed upon by the seller and the auction house.
Hitler concentrated all efforts on this offensive without regard to the risk that an unsuccessful attack would leave him without reserves to maintain any subsequent defense of his long front.
His decision to sell without reserves (the secret minimum-price guaranteed to the seller and the auction house) meant that works would go to the highest bidder regardless of market values.
As generally happens with charity auctions, in order to make as much money for Unicef as possible Christie's is offering the paintings and sculptures without reserves, the secret minimum price generally agreed upon by the seller and the auction house.
While it is rare to sell multimillion-dollar paintings without reserves, it was done in November at Christie's, which successfully sold a collection of modern art from René Gaffé, the Belgian perfume mogul and newspaper owner, to benefit Unicef.
Open image in new window Fig. 5 EENS without reserves for summer.
Open image in new window Fig. 6 EENS without reserves for winter.
The major LOLP occurs at 20 00 without reserves, but drops significantly with the use of reserves and DR programs.
