mc2fool wrote:Mike4 wrote:The "Guide Price" is just a non-binding informal indication in the sales particulars of what the auctioneer thinks it might sell for, therefore a great tool for manipulating the room.
Or that is how it used to be. I've not been to an auction for 20 years either!
"Guide price" is what estate agents list (inter alia) for houses they're marketing. Auction houses list "estimates". One could say they mean much the same but all professions like to have their own terminology...
The first property auction house I looked at to check, lists Guide Prices.
https://online.firstforauctions.co.uk/search?view=Grid
Edit to add:
Scroll down to the lower half of that link to see completed sales. Quite illuminating to compare the Guide Prices with the sale prices achieved.