How to Sell Your House for More?

摘要

Online auction is one of the common mechanisms for online selling and buying. Despite a host of studies on influencing factors on online auction, there is an insufficient understanding of the effects of item features and auction characteristics on the final price. In this study, we extracted both verbal and nonverbal features of online house auctions and examined their effects on the final price of auctioned houses. Based on an analysis of 10,573 online house auctions, we found that features such as starting price have a positive impact on the final price, and features such as bid increment have a negative effect. In addition, verbal features such as numeral count also negatively influence the final auction price. The findings have broad practical implications for improving the description and design of online auction items.