The £5m price tag came as a surprise to City but they are interested in further talks.
Moses' agent Tony Finnigan told the Daily Mail
'In my view Victor is worth £5m and maybe even more but I have nothing to do with what Palace will receive for Victor Moses. But from a personal point of view and as a former Palace player I hope they get the amount they desire for him.
'I hope Moses goes on to be the next household name - and he has the talent to do that - but at the moment Palace have to get a figure they are happy with.
'I sincerely hope the player I work with and represent can enable Palace to secure their financial future.'