fair market value

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Fair Market Value

A subjective estimate of what a willing buyer would pay a willing seller for a given asset, assuming both have a reasonable knowledge of the asset's worth. Fair market value is important in both law and accounting. In the former, it is often used in assessing damages as the result of a lawsuit. In the latter, determining the fair market value of an asset (e.g. after depreciation) is important to determining the amount of tax owed on it.

fair market value

The price at which a buyer and a seller willingly consummate a trade.

Fair market value.

Fair market value is the price you would have to pay to buy a particular asset or service on the open market.

The concept of fair market value assumes that both buyer and seller are reasonably well informed of market conditions. It also assumes that neither is under undue pressure to buy or sell, and that neither intends to defraud the other.

fair market value

The amount that a willing buyer would pay a willing seller for property after reasonable exposure to the marketplace.

Fair Market Value (FMV)

The amount at which property would change hands between a willing buyer and a willing seller, neither being under compulsion to buy or sell and both having reasonable knowledge of the relevant facts.
References in periodicals archive ?
To this effect, The 20 kg wheat flour sack will be sold Rs 670 in fair price shops while it is being sold in market at Rs 750 and Daal chana rate is Rs 60 per Kg instead of Rs 85 Kg at Market rate.
He said: "The FUW firmly believes that a Welsh sheep farmer who wants a fair price for his lambs in the market should want to see coffee farmers like Nimrod get a fair price too.
It will also seek ways to establish a fair price for gas under a gas-to-oil indexation with the objective to overcome the disparity between crude oil and gas prices, the organisers said.
But in 2008 and the first half of 2009, officials generally thought prices were too low, and continued to insist fair prices were in the $70-100 range despite the collapse of futures prices.
In fact, the authors are unable to reject the hypothesis the fair price is merely a lagged function of market prices.
The move could mean the county's food shops offering fair trade coffee and tea, ensuring producers get fair price for their produce.
There is already significant interest and our commitment as a council will help farmers and producers in the developing countries receiving a fair price for their produce.
Yet, despite our differences, the principle that a farmer should receive a fair price for his produce transcends international boundaries, and is one that we should all support, whether as individuals or as organisations - and this principle should also extend to procurement by public bodies.
The producers want "a fair price for gas that is linked to an energy commodity, especially crude oil C* gas prices are not yet in parity with oil," Sada told reporters.