Well as I mentioned in my other thread - http://www.invested.com.au/6/finally-selling-my-ip-36158/ - myself and my investment partner have decided to take our place to auction: WEST END, Queensland 4101 - Townhouse for Sale #106267362 - realestate.com.au Given that we are only a few days away now, our agent has asked us to start thinking about a reserve price and a refer to price. So I thought I'd put the topic up for debate to see what people's thoughts and perspective were on setting an effective reserve price and refer to price. As mentioned in the above thread - we have received three offers prior to auction and none of them have been what we are looking for. So I thought I would get you guys to give me your opinions on the value of the property from an investors perspective to help us set reserve. I think the main selling features are, it's a 3 bedroom with a massive loft which has doubled as a fourth bedroom for our previous tenants. It rents out for $600 week, it's body corp is only $600 a year in a small complex of 5 townhouses, it's about 1500m to Brisbane CBD, it's only a 300m from the very popular boundary street cafe and bar area. The building and pest came back fine, but mentioned that some retiling work should be done on the upstairs bathroom (I agree) and I'd also think the place probably needs a good paint, but other than that the place is in pretty good nick as it's not very old - I think it's less than 10 years old (though not certain). So given all of the above would anyone be willing to give me some approximations of what they think the value is from an investors perspective, and the reserve and refer to price price they would probably set at auction?