auction system works, what it indicates about price formation, and how well it performs. We begin with a short description of … the mechanics of the auction system and then organize the remainder of our discussion around two major topics. The first … topic concerns how researchers have used auction prices. We begin by discussing the returns to holding art and whether …

This paper reports on the results of an auction sale of 83 condominium apartment units in New Jersey. At the auction … fetched at auction and the discount was largest for those units hammered down early in the auction. These results are … auction may have been the subject of a "winner's curse" which generated considerable profit for the seller …

This paper contains a review of the burgeoning research that has been designed to shed light on how the art auction … are fairly long periods in which art prices may diverge across geographic areas and even auction houses. Third, we review … collusion with Christie's, the other great public auction house, was actually engineered. Contrary to the way the proceeds from …