An Auction Guide Price. Is the price published by or advised by the Auctioneer to potential Purchasers and buyers. It is not a valuation. The guide price is intended to “Guide” the bidders as to the auctioneers opinion of the expected sale price.
The Guide Prices: listed must not be relied upon by prospective purchasers as a valuation or assessment of value of the properties.
They are intended to provide purchasers with an indication of the region at which the reserve may be set at the time of this catalogue going to press. These guide prices may be subject to variation and interested parties are advised to make regular checks with our office and upon our websites. Potential buyers should be aware that the reserve price may be either below or above the quoted guide price. Prospective purchasers should also be aware that the eventual sale price may be above or below the guide levels dependent upon competition, and therefore should not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting guide prices, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property cannot and will not be sold), remains confidential between the seller and the auctioneer.
Guide prices, therefore, are intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this. You are requested to telephone the auctioneers for the latest up to the minute guide price.
Where a property is shown on the list as “Sold prior”, it has been sold just prior to catalogue publication. Prospective purchasers’ attention is drawn to the fact that some lots may be sold prior to auction, and it is therefore advisable to make certain that the property you wish to bid upon is still available at each step.
Please help and advice on Buying at Auction and guide prices. Please contact edward@worldofauctions.co.uk
https://www.eigpropertyauctions.co.uk/buying-at-auction/guide-prices-explained
https://corporatefinanceinstitute.com/resources/management/auction/?
