fair market value
Arm's-length transaction price
Fair market value is the price a willing buyer would pay a willing seller when neither is under pressure to complete the transaction and both have reasonable knowledge of relevant facts.
The term appears constantly in tax law, real estate, and legal disputes over property: The IRS questioned the fair market value claimed for the donated artwork.
Often abbreviated FMV.
Monetary value assigned
- saleExchange for payment
- purchaseGoods obtained for payment
- buyerOne who acquires things
- sellerOne who trades goods
negotiation · offer · bid · asking price · closing · escrow · broker · listing
Formal evaluation of worth
- estimateInformed guess at quantity
- evaluationDetermining worth or quality
- comparablesSimilar things for comparison
- appraiserEvaluator of monetary worth
inspection · adjustment · depreciation · condition · improvements · square footage · location · amenities
Official property valuation for levies
- divorce settlementTerms ending a marriage
- insurance claimDemand for policy payment
- eminent domainForced government land acquisition
- condemnationSevere disapproval expressed formally
litigation · damages · IRS · capital gains · gift tax · charitable donation · probate · bankruptcy
Furnish or stock
- demandForceful request or requirement
- liquidityConvertibility to cash
- assetsOwned items of value
- equityImpartial treatment or ownership value
investment · capital · commodities · trading
price
Monetary value assigned
seller · negotiation · offer · bid · asking price · closing · escrow · broker · listing · auction
assessment
Formal evaluation of worth
- estimateInformed guess at quantity
- evaluationDetermining worth or quality
- comparablesSimilar things for comparison
appraiser · inspection · adjustment · depreciation · condition · improvements · square footage · location · amenities · zoning
tax assessment
Official property valuation for levies
- divorce settlementTerms ending a marriage
- insurance claimDemand for policy payment
- eminent domainForced government land acquisition
condemnation · litigation · damages · IRS · capital gains · gift tax · charitable donation · probate · bankruptcy · compliance
supply
Furnish or stock
equity · investment · capital · commodities · trading
- business termsfranchising, revenue stream, board meeting, gross margin, markdown
- pricing guidesblue book, Kelley Blue Book, list prices, sticker prices
- real estate termsoffer, lease, rent, counteroffer, asking price
- used car valueblue book, Kelley Blue Book, depreciation, appraisal
- Valuationestimate, worth, NAV, comparables, comps
- Asset Valuationstraight-line, amortization, useful life, replacement cost, acquisition cost
fair market valuesentimental value
Worth from personal attachment
salvage value · scrap value · book value · replacement cost · intrinsic value
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