process
Guide price
The price an auctioneer suggests as a starting point for bidding. It is not a valuation and not what the property must sell for — the actual reserve sits above or below depending on the auctioneer's strategy.
In simple terms
Think of it like an asking price on Rightmove — a marker to draw interest, not a promise.
Example
A two-bed terrace in Birmingham listed at a guide of £140,000 might sell at £165,000 if competitive bidding takes off — or at the £150,000 reserve if it doesn't.
If you're buying
Use guide prices to filter lots, then check the legal pack to assess true risk. Bid based on your own ceiling, not the guide.
If you're selling
Setting the guide too high deters interest; too low looks like you're under-pricing. Most sellers anchor the guide 5–10% below realistic expected sale.
Related terms