Any trade deal for Pick 1 is likely to come after the trade period's deadline, with West Coast seeking an offer that "blows us out of the water" to deal the prized selection sooner rather than later.
A designated window for pick swapping will open on Monday and will run until Friday, November 10, while live trading is accepted on the days of the National Draft.
The Eagles have flagged Pick 1 is available, but only for the right offer. List manager Rohan O'Brien hasn't set a price for their opening selection, instead allowing rival clubs to table offers that they believe might satisfy both parties.
North Melbourne, Hawthorn and Melbourne are among the potential suitors interested in trading up to the front of the queue, with the Roos holding five first-round picks for this year to have them right in the frame to potentially broker a deal.
The Hawks are set to enter the draft at Pick 4 and would likely need to pair that selection with their future first-round pick, while the Demons hold Picks 6 and 11 as well as their own opening-round pick selection for 2024.
Speaking on Trade Radio on Tuesday, O'Brien said it's likely any deal for Pick 1 would occur following Wednesday evening's trade period deadline.
"We haven't had a lot (of interest) to be honest," O'Brien said of the recent interest in Pick 1.
"To be fair, I think clubs have got a number of other things on the go at the moment that they need to work through.
"That may change once the player exchange period finishes and we move more into selections. We've had a few calls but the phone hasn't been ringing off the hook.
"... We can really wait up until the last hour or so to make a decision. Unless something blows us out of the water, we'll take as much time as we need."
O'Brien confirmed that there are clubs that are looking to get their ducks in a row following the player exchange period before offering up a package for Pick 1, with West Coast prepared to wait until as late as draft night to work through a deal.
West Coast have only used Pick 1 twice in their history, selecting Drew Banfield in 1992 and Michael Gardiner in 1996.
O'Brien said he certainly understands the power of the selection, with the club wanting to get the most out of the draft hand as they look to work through a list rebuild.
"Some clubs have indicated that they'd like to speak to us when the time's right," he said.
"We're happy to listen to anyone. I think I've said before, we certainly aren't putting a price on it but we're happy to listen to what comes home for sale and make any decision at that time.
"... having Pick 1 doesn't come along very often and it's a really good opportunity. We're obviously trying to bring in some elite young talent and you don't get this opportunity very often.
"I'm not trying to evade it, but you wait until the offer comes your way and then you apply that to what players you think that will turn into, and that probably helps you decide."
While Reid is the expected name to be read out come the opening selection of next month's count, the Eagles are yet to settle on who they will be selecting if they carry the pick through to the draft.
Local talent Dan Curtin, Gippsland's Zane Duursma, and Tasmanian Colby McKercher are among the prospects toward the top end of this year's crop, with West Coast still needing to work through further due diligence before coming to a decision on who they would recruit.
"There's a little bit more work to do there, we're just waiting on some information around medicals and we'll get together as a group and discuss all those things," O'Brien revealed.
"We haven't landed on an outright position just yet."
Following Pick 1, the Eagles are set to return to the draft board with Picks 23, 37, and 58.