The probability of sale and price premiums in withdrawn auctioned properties

Simon Stevenson and James Young
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James Young: University of Auckland, New Zealand

Urban Studies, 2015, vol. 52, issue 2, 279-297

Abstract: This paper examines the impact of the auction process of residential properties that whilst unsuccessful at auction sold subsequently. The empirical analysis considers both the probability of sale and the premium of the subsequent sale price over the guide price, reserve and opening bid. The findings highlight that the final achieved sale price is influenced by key price variables revealed both prior to and during the auction itself. Factors such as auction participation, the number of individual bidders and the number of bids are significant in a number of the alternative specifications.

Keywords: Dublin; English auctions; private value; probability of sale; withdrawn sales (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:52:y:2015:i:2:p:279-297

DOI: 10.1177/0042098014529341

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