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The probability of sale and price premiums in withdrawn auctioned properties

Author

Listed:
  • Simon Stevenson

    (University of Reading, UK)

  • James Young

    (University of Auckland, New Zealand)

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.

Suggested Citation

  • Simon Stevenson & James Young, 2015. "The probability of sale and price premiums in withdrawn auctioned properties," Urban Studies, Urban Studies Journal Limited, vol. 52(2), pages 279-297, February.
    • Handle: RePEc:sae:urbstu:v:52:y:2015:i:2:p:279-297
    DOI: 10.1177/0042098014529341
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