Reserve price vs guide price: what sellers should publish

Two numbers get quoted around a property sale and they do very different jobs. Treating them as interchangeable is the most common mistake a first-time seller makes.

A reserve is a promise

It is the price below which you will not sell. Once published, it binds you for the duration of the sale. That is precisely what makes it useful: a buyer reading it knows that clearing it ends the matter.

A guide is an expectation

A guide price signals where you think the market will land. It is not a commitment and should never be set as marketing bait — a guide far below a reserve reliably produces a room full of buyers who leave irritated.

Setting a reserve that actually attracts bidders

• Anchor on recent, comparable, completed transactions — not on asking prices, which are wishes.
• Set it at the price you would be content to accept on the day, not at your best-case outcome.
• A reserve slightly under your target invites competition; competition is what closes the gap.
• Publish the increment alongside it, so buyers can plan their ladder before the clock starts.

A reserve set at your dream number does not protect your dream number. It just means the room never forms.