Please use this identifier to cite or link to this item: https://doi.org/10.1111/1540-6229.12056
Title: Auction versus Negotiated Sale: Evidence from Real Estate Sales
Authors: Chow, Y.L. 
Hafalir, I.E.
Yavas, A.
Issue Date: 2014
Citation: Chow, Y.L., Hafalir, I.E., Yavas, A. (2014). Auction versus Negotiated Sale: Evidence from Real Estate Sales. Real Estate Economics. ScholarBank@NUS Repository. https://doi.org/10.1111/1540-6229.12056
Abstract: We offer a theoretical and empirical comparison of auctions and negotiated sales. We first build a simple model to show that auctions generate a higher relative price than negotiated sales when demand for the asset is strong, when the asset is more homogeneous and when the asset attracts buyers with higher valuations. Using data from property sales in Singapore, we find support for our theoretical predictions. In addition, we find that auctions do not necessarily generate a higher price premium for foreclosed properties than for nonforeclosed properties. © 2014 American Real Estate and Urban Economics Association.
Source Title: Real Estate Economics
URI: http://scholarbank.nus.edu.sg/handle/10635/124999
ISSN: 10808620
DOI: 10.1111/1540-6229.12056
Appears in Collections:Staff Publications

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