ANALISIS TINGKAT DISKON JUAL PAKSA DALAM LELANG EKSEKUSI SEBAGAI PENENTU BESARAN NILAI LIKUIDASI
Keywords:
Auction, Forced Sale Discount Rate, Liquidation Value, ValuationAbstract
Determination of the liquidation value in forced sales through the auction mechanism requires accuracy and prudent. A value that is too high will cause the auction to become uninterested, on the other hand, if it is too low, it has the potential for a lawsuit. To understand the exact liquidation price level, it is necessary to understand the forced selling discount rate. This study aims to find the level of forced selling discount in the buyer's perspective and the factors that influence its formation. By using execution auction data, especially those that have objects in the form of land and buildings, this study finds that the average discount rate for forced selling from the market value is 29.7%, with the influencing factors are the presence or absence of potential problems, the type of object, the location where the object is located, and the year of the auction transaction. Based on these results, the regulatory provisions related to the liquidation value policy can be improved, by not only taking into account risk factors for potential buyers.
Downloads
References
Amoruso, Paola & Mariani, Massimo & d'Amato, Maurizio & Didonato, Raffaele. (2020). Italian Auction Market: Features of Discounted Forced Sale Price. Real Estate Management and Valuation. 28. 12-23. 10.1515/remav-2020-0020.
Barbiero, Francesca, Schepens, Glenn. Sigaux, Jean-David. 2022. Working Paper Series. Liquidation value and loan pricing. European Central Bank.
Bilozor, Malgorzata Renigier. Walacik, Marek. Zrobek, Sabina. D’Amato, Maurizio. 2018. Forced sale discount on property market – how to assess it?. Elsevier Land Use Policy Jounal 78 (2018) 104-115
Campbell, John Y. Giglio, Stefano, Pathak, Parag. 2011. Forced Aales and House Price. American economic Review 101. August 2011; 2108-2131.
Chyi, Hew Li. 2015. Determinants of Auction Success and Auction Price Premium. Tesis. Universiti Teknologi Malaysia
Donner, Herman. (2020). Determinants of a foreclosure discount. Journal of Housing and the Built Environment. 35. 1-19. 10.1007/s10901-020-09757-1.
Hortacsu, Ali. Perrigne, Isabelle. 2021. Empirical Perspectives On Auctions. Working paper No. 2021-142.
International Valuation Standars Council. 2020. International Valuation Standar. ISBN: 978-0-9931513-3-3-0
Kementerian Keuangan Republik Indonesia, Peraturan Menteri Keuangan Nomor PMK-180/PMK.06/2009 tentang Penilaian Barang jaminan.
Kementerian Keuangan Republik Indonesia, Peraturan Menteri Keuangan Nomor 213/PMK.06/2020 tentang Petunjuk Pelaksanaan Lelang.
Kurniawan, Rachmat. 2022. Efektifitas Kinerja Lelang, Penggunaan Data untuk Penyusunan Strategi Peningkatan Kinerja Lelang. Seminar Digital Kemenkeu Open Class Strategi Peningkatan Kinerja Lelang Untuk Mendukung Pemulihan Ekonomi Nasional. BDK Pekanbaru.
Ong, Seow E & Lusht, Kenneth & Mak, Chee Y. (2005) Factor Influencing Auction Outcomes: Bidder Turnout, Auction Houses and Market Conditions. JRER, Vol. 27 No. 2 – 2005
Pramudiyanto, Guntur. 2022. Penilaian Untuk Tujuan Lelang. Seminar Digital Kemenkeu Open Class Strategi Peningkatan Kinerja Lelang Untuk Mendukung Pemulihan Ekonomi Nasional. BDK Pekanbaru.