Seanad debates

Wednesday, 28 May 2003

Auctioneering Profession: Motion.

 

I know the difference between a guide price and a reserve price. I have considered how the reserve price might at some point be made known. Whatever the reserve price is, the guide price must be real. If the Minister were selling a house on my behalf and put down the guide price, then that must be a price at which I am prepared to sell. It might be well above the reserve price, but one cannot put a property up for sale with a guide price and then refuse to sell it for that price. If a bid is made above the guide price, the property must be on the market. In terms of a contract, that is reasonable.

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