David Sandeman writes 'A guide to the guide price' for Estates Gazette's first guide to property auctions
Publish Date: 17 October 2016
By Beth Fox
Further reading
Join the EIG team at the Property Investor Show 7-8th October 2016, at Excel London
Autumn 2016 Edition
Estates Gazette has just released the Property Auction buyer's guide, an invaluable guide full of information and inspiration from industry professionals.
The guide features an article written by David Sandeman, Managing Director of Essential Information Group.
He explains what guide price really means as "It is one of the most misunderstood terms in the auctioneer's catalogue."
"The guide price is not the price at which the auctioneer expects to sell the lot. My experience of talking to prospective buyers is that many do not realise this."
(Read the full article in the guide available on the newsstands now).
Essential Information Group - News and Information
Keep up to date with our latest news, case studies and what's going on in the property auction industry on our blog.
Buying at auction
25/03/2026
The Most Important Document in the Legal Pack? The One That’s Missing.
Legal packs are often treated as the definitive source of truth in a property transaction. But in reality, they are anything but complete. While they provide essential information, they are built to meet minimum requirements - not to offer full transparency. And in many cases, it’s not what’s included that creates risk, but what’s missing.
Buying at auction
24/03/2026
Guide Prices: Why Buyers Should Treat Them as a Guide to the Reserve
Guide prices are one of the most misunderstood elements of the auction process. Too often, buyers treat them as an indication of a property’s value, when in reality they are designed to signal something entirely different, the likely reserve. In an increasingly competitive and dynamic auction market, understanding this distinction is critical to making informed decisions and avoiding costly assumptions.
Buying at auction
23/03/2026
There’s So Much More Than the Aroma of Hot Coffee…
There’s so much more to selling a property than creating the perfect first impression. While details like fresh coffee, open windows, and careful staging can help set the scene, today’s buyers are looking for something far more important - clarity, confidence, and certainty. And that doesn’t come from how a property feels, but from how well it’s prepared behind the scenes.