Auction Sales Research Articles

Legal Review On Auction Sales Of Mortgage Rights Object On Agricultural Land And Its Registration

Agrarian Law is one of the legal materials that are directly related to the livelihood of every individual society and the order of life of Indonesian society. The citizens until now are still very dependent on the activities and efforts that mostly work as agrarian, so that the land is one of Agrarian object which is the support and hope for every individual society in order to carry out a prosperous life order. The process of selling the land is divided into two ways: general sales and special sales by auction conducted by the State Property Office and Auction. This auction is conducted in the framework of repayment of debt secured by mortgage rights. This matter is regulated in Act No. 4 Of 1996 concerning Land Mortgage Rights and Objects Related to the Land and Regulation of Minister of Finance Number 27/PMK.06/2016 concerning Guideline for Auction Implementation of Auction or public sale is a part of the occurrence the transfer of rights. According to Article 41 paragraph (1) of Government Regulation No. 24 of 1997 concerning Land Registration explains that the transfer of rights through auction can only be registered if it is proven by quotation of auction minutes made by auction officials.Keywords: Auction Sales; Mortgage Right Objects; Land Registration.

Selling stolen goods on the online markets: an explorative study

ABSTRACTHistorically, criminologists studied theft from different perspectives, but only a few focused their attention on the reselling of stolen items. The advent of the Internet has boosted stolen good markets by facilitating interactions between vendors (thieves and receivers) and buyers. This study, based on 227 cases reported by news sites in 2015 and 2016, focuses on the markets and methods used to sell stolen goods online. The results suggest that the online selling methods are quite independent from existing offline methods. The findings innovate with respect to the typology provided by Sutton. The online markets for stolen goods are rather a new environment where perpetrators may choose among several methods of disposal. The results reflect a preference for resale through classified ads sites (44.24%), auction sale sites (28.11%) and social media (19.35%). In the light of this study, more research is needed to understand online stolen goods markets and their mechanisms.

Made by Mistake: When Mistakes Increase Product Preference

Abstract Mistakes are often undesirable and frequently result in negative inferences about the person or company that made the mistake. Consequently, research suggests that information about mistakes is rarely shared with consumers. However, we find that consumers actually prefer products that were made by mistake to otherwise identical products that were made intentionally. This preference arises because consumers perceive that a product made by mistake is more improbable relative to a product made intentionally, and thus, view the product as more unique. We find converging evidence for this preference in a field study, six experiments, and eBay auction sales. Importantly, this preference holds regardless of whether the mistake enhances or detracts from the product. However, in domains where consumers do not value uniqueness (e.g., utilitarian goods), the preference is eliminated.

Strategic Sequential Bidding for Government Land Auction Sales – Evidence from Singapore

This paper studies the extent to which equilibrium land auction prices are pushed up sequentially due to strategic bidding behaviors in government land auction sales. Using a unique dataset that covers the universe of tendering prices submitted by all developers for all residential land auction sales in Singapore, we find that a tenderer’s bids are significantly higher where there was a previous land parcel sold within two years and located within four kilometers. The identified price margin decreases with time and geographic distance. Tracking sequential bids submitted by the same developer over time, we find that the incumbent winner of a previous auction is more likely to participate in subsequent nearby land sales as compared to the second-highest bidder of the same auction. However, it does not necessarily win the subsequent sites. We argue that the incumbent deliberately bids up the subsequent land prices to gain pricing advantages to their own parcels.

Catch Animal Spirits in Auction: Evidence from New Zealand Property Market

AbstractFollowing the animal spirits theory proposed by Akerlof and Shiller, this article contributes to behavior economics by investigating the possibility of using auction sales data to capture evidence of irrational exuberance in the housing market. Using the monthly percentages of residential property auction sales for Auckland, Wellington and Christchurch regions in New Zealand from 2006 to 2015, and the exuberance testing method proposed by Phillips, Shi and Yu, we find that animal spirits have been developing in the Auckland housing market since 2013, but not in other regions. When compared to the results based on price‐to‐rent ratios, auction sales provide more meaningful results for identifying market‐wide irrational exuberance at an early stage. The causality test on price‐to‐rent ratios and auction sales volume shows that asset prices and animal spirits influence each other in the short run. In the long run, prices have significant effect on animal spirits, but not vice versa.

Fifty Years of Collecting: The Sale of Ancient Maya Antiquities at Sotheby’s

Abstract:Pre-Columbian antiquities, particularly those from the Maya region, are highly sought after on the international art market. Large auction houses such as Sotheby’s have dedicated pre-Columbian departments and annual auctions, for which sales catalogues are created. These catalogues offer insight into market trends and allow the volume of antiquities being bought and sold to be monitored. The following study records the public sale of Maya antiquities at Sotheby’s over a period slightly exceeding 50 years from 1963 to 2016. More than 3,500 artifacts were offered for sale during this period, of which more than 80 percent did not have associated provenance information. The data suggests that the volume of Maya antiquities offered for sale at Sotheby’s public auctions have been steadily decreasing since the 1980s, but their relative value has increased. Quantitative studies of auction sales such as this one can be useful in monitoring the market for illegal antiquities and forgeries.

부동산 경매 낙찰가율 시계열의 Chaos 분석

부동산 경매 낙찰가율 시계열의 Chaos 분석

Art and Gender: Market Bias or Selection Bias?

We test for gender effects in the art market using auction prices for artists who graduated from the Yale School of Art. Yale’s female graduates have significantly fewer auction sales, controlling for their graduating year gender ratio. Conditioning upon sale, works by female artists obtained higher average prices. The results suggest that, while institutions and career paths may condition on gender, the market may not.

TV's Dirty Little Secret: The Negative Effect of Popular TV on Online Auction Sales

Timing online auctions to attract a large number of prospective buyers is important for sellers. This study examines whether online auction sellers need to account for exogenous effects like TV viewing when timing and predicting their auction results. An ongoing debate questions whether TV viewers can spread their attention across multiple devices while watching TV, for example, by concurrently shopping online or posting on social media. Recent research has focused on understanding cross-media effects; however, little attention has been given to TV viewership's relationship with a very important economic activity, namely participation in online auctions. We examine this potential cross-media effect by analyzing the four-year sales history of a German online auction platform and addressing potential endogeneity problems with an instrumental variable approach. We use three different instrumental variables that have different advantages and disadvantages but can, in sum, be used for triangulation as they lead to the same result. The analyses reveal a significant negative cross-media effect between TV consumption and online auction sales, indicating that TV consumption and online auction sales might compete for the scarce attention of consumers and are thus substitutes for each other rather than complements.

Market Responses to Changing Legal Standards: Evidence from Antiquities Auctions

This article examines how changing legal standards impact supply and demand in a market where some objects are potentially tainted or illegal. Using novel disaggregated data on market transactions, we are able to quantify changes in market activity before and after major court decisions. Our evidence comes from the antiquities market, where records of historical ownership (provenance) determine whether an object may be legally bought and sold. The analysis starts with a model predicting how provenance affects an object's value, and how changes in government enforcement differentially impact the upper and lower tails of the quality distribution of objects. We test the model using a new data set of auction sales between 1996 and 2014, which allows us to proxy for the probability that an object can be sold legally. The results show that auction trends changed sharply at the time of landmark legal decisions: the proportion of objects with legitimate provenance have increased and so have their prices. They also show that this is especially true for rare high quality objects, in ways predicted by the model. Our analysis implies that legal standards resulting from court cases, rather than the mere existence of laws or treaties, may be essential for shaping market behavior. Finally, we discuss our findings in light of public policy concerns that the antiquities black market may fund terror groups and dictatorial governments.

Dynamics of production and export in transformation of tea plantation sector in India

The study was based on secondary published data with effect from 1971 to 2011 with an objective to examine the trends of production and export of tea and growth in India. It was observed that tea sector plays an important role contributing more than 200 crores to the GNP of the country. The major three producing regions are Darjeeling, Assam and Nilgiri. In the recent years, the sector has witnessed a stiff competition in the international export market affecting domestic production. It was observed that China produces 39.00% of world tea followed by India sharing 24.55% with an annual change of 2.87% during 1971–81 to 3.06% during 2001–11. Production of tea in the country was mainly due to increase of area and productivity. Replanted and replacement area could not influence the production of tea significantly. Number of tea estates was found to increase in between 1991–01 at the rate of 74.09% due to inclusion of small tea gardens and it declined from 5.29% to 3.64% during 1961 to 2011. Productivity change was higher in Assam, Tripura, Tamil Nadu and Kerala with high production change during the decades. The area growth during the decades was low. Production share of tea grades like CTC, Darjeeling and Green tea declined over years while share of Orthodox tea increased over years. The country witnessed high annual change of area of tea bushes under the age group of 5 to 10 years followed by below 5 years due to more area put under the small tea estates in the recent years. The export of tea bags as value added tea grew faster from 1971–72 to 2011–12 in terms of quantity and value followed by packet tea. Auction sale in the country declined. Employment generated per estate varied from 191 in Karnataka to 1011 in West Bengal in 2011. The emerging small tea sector has contributed from 5% in early 90’s to 31% during current year and is expected to touch 50% within next few years. It can be concluded that area could influence the production and it needs to be increased under replanting and replacement planting. Steps should also be taken to increase the export of value added tea in the country. The small tea sector should be organised and regulated to make it more productive.

“The Butcher’s Bill”: Using the Schoenberg Database to Reverse-Engineer Medieval and Renaissance Manuscript Books from Constituent Fragments

The Schoenberg Database of Manuscripts can be used not only to track the provenance of individual manuscripts, but also to uncover larger patterns in multiple provenance strings of manuscripts. For example, does an individual auction sale or bookseller’s catalogue have any discernable influence on the acquisitions made by a collector or institution? Or is the publication of a collection or exhibition catalogue preceded or followed by any discernable pattern of acquisition activity? This paper explores patterns of acquisition, exhibition and sale associated with the collections of William Bragge (1823-1884) of Sheffield and Dr. T. Shadford Walker (1834-1885) of Liverpool. Bragge was the largest single exhibitor in the Burlington Fine Arts Club exhibition in 1874. The sale of his library less than two years later at Sotheby’s in June 1876 was only identified as the property of “a gentleman of consummate taste and judgment,” but full reports in The Times revealed his identity to those not already in the know. Not surprisingly the London antiquarian booksellers, Bernard Quaritch, were a major buyer at the sale; its Catalogue 31 published in the fall of 1876 after the sale contains numerous items acquired there. Quaritch was also apparently bidding on behalf of the British Museum and of Dr. Walker of Liverpool. In October of the same year Walker was a major contributor to the Liverpool Fine Arts Club exhibition of illuminated manuscripts and every one of the 18 manuscripts exhibited by Walker had been purchased at the Bragge sale earlier that year.

Economics of Goat Marketing in Regulated Market, Dhule

The annual disposal of goats in Dhule market were 8401 and average price received was 1103 during a decade. The share of owner of goat in the price of final buyer was relatively more in marketing Channel-I (83.76 per cent) followed by Channel-Ill (83.49 per cent) and Channel-II (75.29 per cent). The share of marketing cost in final buyer's price was 7.54 per cent and the sellers and buyer have incurred 3.32 and 3.96 per cent cost of purchase price of buyer. The undercover method of sale needs to be eliminated by open auction sale.

The Linked Collections of William Bragge (1823–1884) of Birmingham and Dr. Thomas Shadford Walker (1834–1885) of Liverpool

The Schoenberg Database of Manuscripts can be used not only to track the provenance of individual manuscripts, but also to uncover larger patterns in multiple provenance strings of manuscripts. For example, does an individual auction sale or bookseller’s catalogue have any discernable influence on the acquisitions made by a collector or institution? Or is the publication of a collection or exhibition catalogue preceded or followed by any discernable pattern of acquisition activity? This paper explores patterns of acquisition, exhibition and sale associated with the collections of William Bragge (1823-1884) of Sheffield and Dr. T. Shadford Walker (1834-1885) of Liverpool. Bragge was the largest single exhibitor in the Burlington Fine Arts Club exhibition in 1874. The sale of his library less than two years later at Sotheby’s in June 1876 was only identified as the property of “a gentleman of consummate taste and judgment,” but full reports in The Times revealed his identity to those not already in the know. Not surprisingly the London antiquarian booksellers, Bernard Quaritch, were a major buyer at the sale; its Catalogue 31 published in the fall of 1876 after the sale contains numerous items acquired there. Quaritch was also apparently bidding on behalf of the British Museum and of Dr. Walker of Liverpool. In October of the same year Walker was a major contributor to the Liverpool Fine Arts Club exhibition of illuminated manuscripts and every one of the 18 manuscripts exhibited by Walker had been purchased at the Bragge sale earlier that year.

«È venuto a morte Simone Molinari». Considerazioni e note d’archivio attorno all’inventario di Simone Molinaro

The subjet of the two essays is the discovery of some important documents about Simone Molinaro, genoese composer and chapel master of early sixteen hundreds: the inventory of the goods of his house and school of music, followed by the auction sale, and two lists of books remained unsolds. Around these documents it was possible to reconstruct the familiar and hereditary sequences and to describe the instrument preserved in the school in connection to other coeval documents concerning the manufacturing, the circulation and collecting.

Autographs and the global art market: the case of hedonic prices for French autographs (1960–2005)

The market for autographs has become more open to international buyers since 1990. Our data set features a large sample of store and auction sales for selected authors every 5 years from 1960 to 2005. The estimation of a hedonic price function shows that page count, type of author, date and type of the document conditionally to author explain more than three quarters of the price differences. The apparent price of autographs increased by 7.7 % per year during the period, while the hedonic price index increased by 7.9 % on average. With a supply function responsive to market valuation, as well French autograph prices seemingly showing trend similar to art market index, the French autograph market has become more integrated in the global art market.

Do price premiums for wool characteristics vary for different end products, processing routes and fibre diameter categories?

No Australian wool price hedonic studies have separated auction data into different end product-processing groups (PPR) on the basis of all fibre attributes that affect the suitability of wool sale lots for PPR. This study was conducted to assess: (1) whether including information about PPR groupings is more useful in understanding price than clustering by broad fibre diameter (FD) categories, and (2) if the ‘noise’ of macroeconomic effects on price can be reduced by using a clean price relative to the market indicator (RelPrice) formula or a log RelPrice formula compared with log price or clean price. Hedonic models using data derived from 369 918 Australian auction sale lots in 2010–2011 were estimated for these four dependent price variables. Linear FD models predicted less of price’s variance than quadratic or exponential models. Segmenting wool sale lots into 10 PPR before wool price analyses was found to increase the proportion of price variance explained and thus be worthwhile. The change in price with a change in FD, staple length and staple strength differs significantly between PPR. Calculating RelPrice or log RelPrice appears a better price parameter than clean price or log price. Comparing the RelPrice and clean price models, the mean absolute percentage errors were 6.3% and 16.2%, respectively. The differences in price sensitivity to FD, staple length and staple strength across PPR implies a complex set of price-setting mechanisms for wool as different users place different values on these wool properties. These price-setting mechanisms need to be incorporated in hedonic models for agricultural products that possess this characteristic. The wool price premiums can be used to estimate relative economic values when constructing sheep breeding selection indexes and can help determine the most profitable wool clip preparation strategies.

The validity of Islamic art as an investment

This paper investigates the validity of Islamic art as an investment product. We examine the current and future market potential, as well as, performing a hedonic regression analysis on London auction sales from 1998 to 2007. The main findings of the research are; Islamic art returns out performed both the equity and debt markets over the last 10 years; increases in oil prices have a positive effect on art prices, Islamic terrorist attacks on the Western World significantly reduce the value of Islamic art; and that the increase in future buyers means the Islamic art market has the potential to grow very strongly over the coming years. All these indicate the strong potential of this form of art as an investment.

The Singularity of Areopagitica

Literary critics and historians often interpret authors and authors' works as more or less significant, but are reluctant to quantify those works. The interdisciplinary field of creativity studies, however, poses methods of quantifying the eminence of an author's works. This study uses four measures from that field (anthology entries, scholarly citations, entries in books of quotations, and auction sale records) and one measure from the fields of computational linguistics and data mining (ngrams using millions of books digitized by Google) to assess the eminence of John Milton's thirty-one prose works and their relation to his greater achievement in epic poetry. These measures indicate the singular eminence of Areopagitica, Milton's 1644 tract on the liberty of unlicensed printing.

Detection of equine herpesvirus-4 and physiological stress patterns in young Thoroughbreds consigned to a South African auction sale.

BackgroundThe prevalence of equine herpesvirus types-1 and -4 (EHV-1 and -4) in South African Thoroughbreds at auction sales is currently undefined. Commingling of young Thoroughbreds from various populations together with physiological stress related to their transport and confinement at a sales complex, may be associated with shedding and transmission of EHV-1 and -4. This prospective cohort study sampled 90 young Thoroughbreds consigned from eight farms, originating from three provinces representative of the South African Thoroughbred breeding demographic to a sales complex. Nasal swabs for quantitative real-time polymerase chain reaction (qPCR) assay to detect EHV-1 and -4 nucleic acid and blood samples for enzyme-linked immunosorbent assay for EHV-1 and -4 antibodies were collected from all horses on arrival and departure. Additional nasal swabs for qPCR were obtained serially from those displaying pyrexia and, or nasal discharge. Daily faecal samples were used for determination of faecal glucocorticoid metabolite (FGM) concentrations as a measurement of physiological stress and these values were modelled to determine the factors best explaining FGM variability.ResultsEHV-4 nucleic acid was detected in 14.4 % and EHV-1 from none of the animals in the study population. Most (93.3 %) and very few (1.1 %) of this population showed antibodies indicating prior exposure to EHV-4 and EHV-1 respectively. Pyrexia and nasal discharge were poor predictors for detecting EHV-4 nucleic acid. The horses’ FGM concentrations increased following arrival before decreasing for most of the remaining study period including the auction process. Model averaging showed that variation in FGM concentrations was best explained by days post-arrival and transport duration.ConclusionsIn this study population, sales consignment was associated with limited detection of EHV-4 nucleic acid in nasal secretions, with most showing prior exposure to EHV-4 and very few to EHV-1. The physiological stress response shown by most reflected the combination of stressors associated with transport and arrival and these are key areas for future investigation into management practices to enhance health and welfare of young Thoroughbreds during sales consignment.