An indication of the seller’s current minimum acceptable price at auction
As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued
Both the guide price and the reserve price can be subject to change up to and including the day of the auction
The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell
