Empirical Evidence Of The Influences On First- Price Bid Auction Premiums

Authors: Abdul ?Rasheed Amidu and Alirat Olayinka Agboola

Start Page: 157
End Page: 170
Volume: 12
Issue Number: 2
Year: 2009
Publication: International Real Estate Review


This study examines the determinants of auction premium using data from a first-price sealed bid auction of Federal Government Landed Properties in Nigeria. The results indicate that the number of bidders and location are important determinants of auction price premiums. These findings are consistent with the auction theory. The empirical estimates also suggest that property type as well as bidder characteristics may also influence auction premiums.

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