what does guide price mean at auction
Properties sold at auction have a reserve price and a guide price. The reserve price is the value below which the seller will not sell. The guide price is the value the auctioneer expects the property to fetch. In general much of this is an advertising gimmick to attract potential bidders through the door.or example, is it the norm at the point that you are buying for property to be selling at 10% below the asking price and for tenants to be negotiating 5% off the rental values. These are the real market figures.