GUIDE PRICE Meaning and
Definition
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Guide Price:
A guide price refers to an estimated range or value provided by a seller or their representative, which indicates the approximate price at which a product, property, or service is likely to be sold or offered for. It serves as an initial suggestion to potential buyers, indicating the expected price range within which negotiations and transactions can take place.
A guide price is typically used in the context of real estate, auctions, or sales of high-value items where the actual selling price may vary due to market conditions, buyer demand, or other factors. It helps both buyers and sellers in setting their expectations and provides a starting point for price negotiations.
The guide price is not a fixed or binding price; instead, it acts as a guide to evaluate the market value of a particular item or property. Potential buyers use this anchor point to gauge the reasonableness of the seller's asking price and to determine their own offer.
It is important to note that the ultimate selling price may vary significantly from the guide price, as it depends on various factors such as buyer interest, competition, condition of the item, location, or any unique features it possesses. Therefore, the guide price should be considered as a starting point for negotiation rather than a definitive cost.
Overall, the guide price provides a useful reference point for buyers and sellers, aiding in the smooth functioning of markets and facilitating transparent and informed decision-making processes.
Common Misspellings for GUIDE PRICE
- fuide price
- vuide price
- buide price
- huide price
- yuide price
- tuide price
- gyide price
- ghide price
- gjide price
- giide price
- g8ide price
- g7ide price
- guude price
- gujde price
- gukde price
- guode price
- gu9de price
- gu8de price
- guise price
- guixe price
Etymology of GUIDE PRICE
The word "guide price" is composed of two elements: "guide" and "price".
The term "guide" comes from the Old French word "guider", which means "to lead". It ultimately derives from the Proto-Germanic word "widan" meaning "to see" or "to know". Over time, it evolved into "guider" in Old French and then "guide" in Middle English, retaining its sense of leading or showing the way.
The word "price" has its roots in the Latin word "pretium", meaning "value" or "worth". This Latin term was then adopted into Old French as "priz" and further into Middle English as "prise" before evolving into "price" as we use it today.
When combined, "guide price" refers to an estimated or suggested price that serves as a reference point or a starting point when determining the value or cost of something.
