Updating the reserve price in common value auctions
In fact, a decent property can go for more than it would do in the estate agent's window if a number of buyers start bidding it up.This paper explores, through a series of experiments, the effect of shill bidding upon revenues and prices in auctions.We study the practice of shill bidding in a common value framework.Ask to be put on their mailing lists and if you are serious consider signing up for EIG's service which lets you search all auction catalogues and be alerted of properties for sale.
If you do plan on bidding get your finance in place first, realise you will have a short window of opportunity for viewing and any surveys and never forget it is buyer beware.
This is vital, as it will advise on the condition and value of the property.
Updating the reserve price in common value auctions comments