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Starting, Guide and Reserve prices... What is the difference?

When listing at auction you will need to understand three separate prices: a Starting price, a Guide price and a Reserve price. Below, we are going to look at the difference.

The Reserve Price is a confidential figure between the agent auctioneer, the vendor and Bamboo. It is the minimum price that the seller is willing to accept for the property. All bidding will need to either meet or exceed this ‘reserve’ before a sale can happen - providing your vendor with a financial safety net. The reserve cannot be more than 10% above the guide price.

The Guide Price is effectively the marketing or advertising price. Informally it is a guide on where the seller's reserve price might be. The seller's reserve price might be the same or lower than the guide price, so it is important not to assume that the guide price is exclusively tied to the reserve price.

The Starting price is the price that the auction bidding will commence at and the first bid that bidders are able to place online.

Properties at auction are priced to sell in a transparent, fair and competitive process. This means that pricing is designed to encourage buyers into the market to compete for the property by placing higher and higher bids. The aim is to achieve the best possible price for the vendor \ property in the shortest amount of time.

If you require a second opinion on how to price a property at auction we have added a new feature in our dashboard called ‘Appraisal Advice’ which is designed to simplify the appraisal process for our partner agents. 

With just a click of a button, you can request a professional auction appraisal directly from our in-house auctioneers from within the dashboard. Our in-house qualified auctioneers will review the information provided and deliver a detailed auction appraisal, helping you make informed decisions and set realistic expectations for your clients. 

For any questions or assistance, our support team is always here to help. Contact us at hello@bambooauctions.com.

Thank you for choosing Bamboo Auctions. Stay tuned for more updates and features designed to enhance your property auction experience. Happy listing!

Follow us on social media for the latest news, updates, and insights from the Bamboo Auctions team.

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What is the difference?

Starting, Guide and Reserve Prices

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All Wales Auctions is a dynamic and dedicated real auction agency. We specialise in bringing buyers and sellers together across the beautiful landscapes of Wales.

Melfyn Williams BSc(Hons) MRICS PPNAEA PPNAVA CPEA

 Our expertise spans the length and breadth of Wales, ensuring that no corner is left unexplored. From the bustling cities to the serene countryside, we’ve got it all covered!

At All Wales Auction, we pride ourselves on our local knowledge and personalised service, making every transaction as smooth as a Welsh breeze. Whether you're buying or selling, we're here to guide you every step of the way. Let's make your property journey an exciting adventure! If it’s any kind of real estate - land, property, advertising hoarding or even a castle turret we can find your buyer.

Teaming up with Bamboo online service for our auctions was a strategic decision driven by our commitment to enhancing the auction experience for our clients. Here’s why we chose Bamboo:

By partnering with Bamboo, All Wales Auction can offer a modern, efficient, and secure auction experience, with local knowledge aligning with our mission to provide top-notch service and results for our clients.

How would you describe onboarding, support & service from Bamboo?

Has our technology helped your business and teams?

Absolutely, when Covid arrived, we had already started to test Bamboo, so we fortunately were ready, and the Bamboo technology has been a game-changer for our business and teams at All Wales Auction! Bamboo’s technology has simplified and automated many of our auction processes, allowing our team to focus more on client engagement.

How to Kickstart Online Auction Selling in 2025!

Picture this, you launch a property for the ‘Christmas Day’ rush, arrive back in the office a few days later, fed up with all the leftover Turkey sandwiches, ready to kick start 2025 and deal with all your buyer enquiries. After around a month of marketing, viewings and maybe a price reduction, finally a sale has been agreed. Now it’s the start of February and the post-conveyancing works have just started. 

You now have around 151 days to wait for your commission, your client has 151 days of worry and your buyer has 151 days until they can move in. Of course, that's unless they are part of the 33% of all transactions that fall through before completion.

Finally, it’s July, it’s now light when you leave the office and after some challenges and firefighting, you finally have completed the purchase and have been paid!

Or, you could have sold via auction, completed in March, and have a fall-through rate of under 1% to help you reinvest your time and money quicker.

Transaction times for private treaty sales are still a key decision for vendors opting to go the auction route. With the April 2025 changes in SDLT, there is pressure, especially from first-time buyers to complete sales before April. The conditional auction method is already being used to help FTB complete in time whilst allowing for the time for mortgages / additional financing to be arranged. 

Throughout 2024, Online auctions have seen yet another increase in awareness from both sellers and buyers and this has been reflected in the type of lots being offered. This trend looks set to rise again in 2025 with a focus on minimum renovation requirements and ready-to-move-in properties that can be sold for occupancy or investment purposes in a quick, transparent transaction, making auctions an attractive option.

Another trend we are likely to see continue into 2025 is the swift exit of Landlords looking to sell their investment properties. Recent legislation changes and higher taxes are two of the many reasons landlords are leaving the market in huge numbers. Speed, transparency and the ability to attract a wide range of potential bidders help ensure the best price is achieved for your clients, whilst they retain rental income until the property completes.

If you’re an estate agent looking to unlock the benefits of online property auctions, take a look at our recent blog post 

 to speak to one of our property experts.

Have you previously sold via auction online auction before?

The platform was a perfect fit for FG Auctions, allowing us to control every sale and handle each one individually to ensure the best outcome for our client. Whilst there is a place for large mass auction days that some auctioneers favour, our service-orientated model is ideally suited to the white-label platform offered by Bamboo.

How has offering auctions powered by Bamboo helped you?

It has delivered certainty for many of our clients. In a market where Private Treaty transactions can take upwards of 4 to 5 months to exchange, (with pitfalls of related sales collapsing, funding being withdrawn and other legal problems), the online auction attracts funded cash buyers with the certainty of an exchange of contracts when the reserve has been met and the timer goes to zero.

Bamboo is first class – they offer excellent and regular support and are the ideal Partners for us.

Technology never stands still, and this is the case with Bamboo constantly upgrading the platform – the features help the teams deliver up to date data to the clients and inform advice we provide to ensure a successful result. With an 87% success rate our results tell the story.

Lastly, anything else you would like to say about Bamboo Auctions? 

Bamboo are very engaged and hands on, led from the top by Robin Rathore the inspirational founder.

The South West with 30 offices covering Somerset, Devon and Cornwall offering the Complete Property Service – offering the best moving-related services under one roof. From Sales, Lettings, Mortgages, New Homes, Conveyancing, and of course Auctions.

Our auction service has varied over the years, starting with the more traditional in-room auctions selling everything from property and land to more peculiar water storage tanks and pumping stations! This service evolved with the technology to the online format with another provider initially, then to Bamboo.

Bamboo has helped Bradleys auction service by supporting our desire to manage the process with our clients, something that supports our motto of People Serving people. The platform provides the transparency we believe is important and the technology to perform at speed, and accurately and ensure the process concludes successfully.

The onboarding process was very simple and following the short training sessions, enabled our teams to take it forward immediately. It naturally helped due to us offering the service before, so it was a change of platform essentially, although the support team and ability to contact someone at Bamboo should a situation not be clear, or some support required has been invaluable.

The appeal of Bamboo was not only the people that run the business being very open and easy to connect with, but also backing up everything they said they would do. The platform and offering continues to evolve and that is also important to continue to grow our success of selling via the modern method of auction.

What is the new Alto updated Property Selection in the Bamboo Dashboard?

We have been busy updating our Bamboo Auctions integration with Alto and are making our agents’ lives easier by helping them identify suitable properties for auction. We are constantly improving our technology and for this reason, we have recently updated the new Alto automated property selection scoring system. 

The new Alto scoring system evaluates properties based on the presence of specific keywords within Alto for each property, assigning them different scores ranging from "Hot Property" to "Average." If your property is labelled as a "Hot Property," consider discussing with your seller the option of listing it for auction and both you and your vendor can benefit from a more secure, certain and speedier sale!

We have also added a new info button to Alto Properties that displays a preview of the property details when clicked. In addition to displaying the data used to score the properties, the preview also highlights some of the keywords we look for in the scoring process.

At Bamboo Auctions, we are committed to empowering our partner agents with the tools and resources they need to succeed in the competitive property market. Introducing this new streamlined way of self-managing fees is a testament to our dedication to innovation and excellence. By providing you quick and easy access to amend fees on an individual listing basis, we aim to support you in achieving the best possible outcomes for your clients.

0330 088 9659

hello@bambooauctions.com

Starting, Guide and Reserve Prices

Starting, Guide and Reserve prices... What is the difference?

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