Working paper

A comparison of house prices brought by English auctions and private negotiations in Melbourne

URP Working Paper No. 37

15 Jul 1993
Description

A comparison of house prices brought by English auctions and private negotiations produced evidence that the pricing mechanism matters, with the price maximizing choice a function of the level of market interest. In an active market for middle- to high-priced houses, auctions extracted higher prices than private negotiations. However, this result did not hold for houses expected to attract relatively low levels of interest.

Publication Details
Identifiers: 
Handle: 
http://hdl.Handle.net/1885/116267
ISSN: 
1030-2921
DOI: 
10.4225/13/590a528c72447
Volume: 
37
Publication Place: 
Canberra
License Type: 
CC BY-NC
Published year only: 
1993
46
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