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| Author: | Heath, C. Luff, P. |
| Title: | Ordering competition: the interactional accomplishment of sale of art and atiques at auction |
| Journal: | British Journal of Sociology
2007 : MAR, VOL. 58:1, p. 63-86 |
| Index terms: | auctions interaction markets organization |
| Language: | eng |
| Abstract: | Auctions enable the legitimate pricing and exchange of goods where those goods are of uncertain value and that is why auctions provide an institutional solution to a social problem. This article examines sales of fine art, antiques and objects d'art and explores the ways in which auctioneers mediate competition between buyers and establish a value for goods. It also explores hoe bids are elicited, co-ordinated and revealed so as to rapidly escalate the price goods in transparent in a transparent manner that enables the legitimate valuation and exchange of goods. The paper shows that to understand the operation of markets and their outcomes, we need to place the interaction order at the heart of analytic agenda. |
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