search query: @author Sinha, A. / total: 6
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| Author: | Greenleaf, E. Sinha, A. |
| Title: | Combining buy-in penalites with commissions at auction houses |
| Journal: | Management Science
1996 : APR, VOL. 42:4, p. 529-540 |
| Index terms: | AUCTIONS BIDDING PRICING |
| Language: | eng |
| Abstract: | Most auction sellers consign property to auction houses rather than holding the auction themselves. In addition to charging sellers a commission on property that sells in the auction, many auction houses also specify buy-in penalties in auction contracts. This is an amount the seller must pay the auction house if the property fails to sell at auction. An important managerial question for auction houses is whether and whn buy-in penalties can increase revenues of the auction house, seller or both. |
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