What Is A Guide Price At Auction

The guide price is the level where the bidding will commence when the auction starts. It s easy to get excited about a property when the advertised price is so low but that s exactly what the auction house wants. Land size is the most important factor.

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Unlike estate agents who in the vast majority of cases simply quote an asking price auctioneers quote a guide price or a guide price range.

What is a guide price at auction. Remember the listed price is a guide price only and it s likely it will go for more. These may change at any time prior to the auction. Read the legal pack then read it again. The price dealers pay for cars at auction varies with the age and model of the vehicle the level of repair required before retail and the type of auction where it is sold.

The auction guide price as the name suggests is just a guide. Auctions typically feature a guide price and a reserve price. The key difference here is that whilst an estate agent s client is likely to accept an offer at the asking price and sell the property in auctions the bidding may go well above the guide and reserve before being sold to the highest bidder. The reserve price is the seller s minimum acceptable price at auction and the figure below which the auctioneer cannot sell.

Auction flipping is where you bid on an item slightly cheaper than its normal price then flip it buy auctioning it in hopes of a profit or you could start bid it if you have the fee or you could have your friend boost your auction. The property is also subject to a reserve price. These are not the same and the guide price in the catalogue will often be less than the property eventually sells for. Name median price average price amount sold.

Guide prices can either be a single figure price or a price range. Each auction property is offered at a guide price. As the guide price on a property can be raised before the auction even starts usually when it s generated a lot of interest make sure you monitor it closely in the lead up to the day. As a dealer if you buy a car at an informal or back street auction prices start as low as 300 with cars rarely rising above 3 500.

Auction house average prices beta this only checks the past 24 hours of auctions. A guide price is a marketing figure which is used to guide potential buyers as to how much a property could be worth. What is the guide price in auction. Find the average prices for hypixel skyblock auctions to get the best deal.

Add 10 to the guide price. The price guide provided in advertisements is based on the estimated result the agent has given to the vendor which is derived from recent comparable sales. In fact it s often set low in the catalogue to entice bidders and the property could sell for 10 more than that. They are not necessarily figures which a property will sell for the sale price will be dependent on bidding in the auction room.