Auctioneer strategy and pricing: evidence from an art auction Available to Purchase

Auctions are an ancient form of trading, buoyant markets in action and accounting for a huge mass of economic activity. Auctions are another way of marketing either single distinctive items such as artwork or multiple units of a homogeneous item. Most recently they have expanded from being held in traditional locations to being held over the Internet. However, there has been relatively little work on marketing in an auction setting. A number of questions from a marketing perspective are yet to be explored, which include:

This paper characterizes the role of auctioneers and consumers in auctions, drawing on related literature...