Shopfronts at Market Square
Market Square has a limited number of shopfronts. They are allocated through a Harberger-style ownership system.
How does it work?
The owner of a shopfront must advertise a posted price at which they are willing to sell the shopfront. Anyone who wants to buy at that price can do so, and the owner cannot refuse the sale. The owner can set any posted price they want, no matter how high or low.
The owner pays a weekly Harberger tax of 5% of the posted price to the Crown.
This system creates an incentive for owners to set reasonable prices: if the posted price is too high, the weekly tax is expensive, and if it is too low, someone may buy the shopfront.
If an owner fails to pay the Harberger tax, their shopfront may be immediately reclaimed by the Crown.
Advertising the posted price
Each shopfront has an official posted price sign outside, maintained by the Crown. Shop owners may not move it, modify it, remove it, or block it from view.
To set or change the posted price, deposit a signed book into the shopfront rent barrel with the new posted price. Posted prices are set per tax week. Submitting a new posted price sets the shopfront’s posted price for the next tax week, and this is the price the Crown will place on the official sign at the start of that tax week.
The Harberger tax is paid at the start of each tax week and is based on the posted price in effect for that tax week. If you change the posted price for the next tax week, you also change the Harberger tax due at the start of the next tax week.
Claiming a shopfront
Anyone interested in a shopfront may reach out to the current owner to discuss a purchase.
If a buyer offers at least the posted price, the owner must accept the offer and complete the sale. The posted price is binding and cannot be refused.
The moment a sale is finalised, unless there is a different agreement between buyer and seller, a transition period of 7 days begins. The buyer becomes the new owner immediately, meaning they now control the shopfront’s posted price and are responsible for paying the Harberger tax. The previous owner may continue using the shopfront during this transition period. This gives the previous owner some time to move out their items and vacate the shopfront.
When a shopfront is bought at its posted price, the new owner may rush a new posted price into effect by submitting a new posted price immediately. This posted price will be deemed in-effect immediately, overriding the previous owner’s posted price. If this right is not exercised immediately, it is lost, the previous owner’s posted price remains in effect, and any new posted price changes will not take effect until tax collection.