  The Palomar Transient Factory (PTF) is systematically charting the optical
transient and variable sky. A primary science driver of PTF is building a
complete inventory of transients in the local Universe (distance less than 200
Mpc). Here, we report the discovery of PTF10fqs, a transient in the luminosity
"gap" between novae and supernovae. Located on a spiral arm of Messier 99, PTF
10fqs has a peak luminosity of Mr = -12.3, red color (g-r = 1.0) and is slowly
evolving (decayed by 1 mag in 68 days). It has a spectrum dominated by
intermediate-width H (930 km/s) and narrow calcium emission lines. The
explosion signature (the light curve and spectra) is overall similar to thatof
M85OT2006-1, SN2008S, and NGC300OT. The origin of these events is shrouded in
mystery and controversy (and in some cases, in dust). PTF10fqs shows some
evidence of a broad feature (around 8600A) that may suggest very large
velocities (10,000 km/s) in this explosion. Ongoing surveys can be expected to
find a few such events per year. Sensitive spectroscopy, infrared monitoring
and statistics (e.g. disk versus bulge) will eventually make it possible for
astronomers to unravel the nature of these mysterious explosions.
