Hearts head coach Ian Cathro insists Jamie Walker will not leave Tynecastle for less than £1 million.
The Gorgie club have rejected an offer from Rangers for the 23-year-old attacker who scored 15 times last season.
The bid was reported to have been derisory but the Light Blues are expected to return with an improved offer.
However, Cathro is adamant that Hearts will look for market value for Walker.
“Jamie is one of the most talented players in the country,” he told STV.
“Depending on how he works, he can go on to play at a very, very high level in the game. He will not be leaving here for anything other than a value which reflects that.”
Asked to suggest a valuation Hearts would put on a player entering the final year of his contract, Cathro said: “I think it depends on a lot of aspects. When you look at the market I don’t think you can bring Jamie to your club for anything less than £1 million.
“But you also see (similar) players, maybe because they are at different clubs, going for more like £3 million.
“The market can be a funny thing at times. We understand the quality of player that we have and as his coach I look forward to continuing to work with him.
“The players return tomorrow and I’ll be the first one to shake his hand and welcome him back to work.”
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