Arsenal and Liverpool have been told by Borussia Dortmund that Pierre-Emerick Aubameyang is currently valued at around the £60million region, Daily Star reports.
The 26-year-old has been a long-term target for Gunners boss Arsene Wenger and has also been linked with a switch to the Reds in recent months.
It is believed that Wenger recently tabled a £44million offer for the Dortmund forward, but was told to increase their bid to £60million if they want negotiations over his transfer to begin.
Aubameyang has been on sensational form for his side this season, scoring 18 goals from his previous 17 Bundesliga matches.
Liverpool boss Jurgen Klopp is also said to have contacted his former club in hopes of signing the Gabon international as he continues to build his preferred squad.
Apart from the two mentioned teams, Manchester United boss Louis van Gaal has also been linked with a move for the player as he looks to increase his options in attack.