Market Value

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Market Value

The highest price a willing buyer would pay and a willing seller would accept, both being fully informed, and the property being exposed for sale for a reasonable period of time. The market value may be different from the price a property can actually be sold for at a given time (market price). The market value of an article or piece of property is the price that it might be expected to bring if offered for sale in a fair market; not the price that might be obtained on a sale at public auction or a sale forced by the necessities of the owner, but such a price as would be fixed by negotiation and mutual agreement, after ample time to find a purchaser, as between a vendor who is willing (but not compelled) to sell and a purchaser who desires to buy but is not compelled to take the particular article or piece of property.

market value

n. the price which a seller of property would receive in an open market by negotiation, as distinguished from a "distress" price on a forced or foreclosure sale, or from an auction. Market value of real property is normally determined by a professional appraiser who makes comparisons to similar property sales in the area, which are often called "comparables."

References in periodicals archive ?
The cost savings from the thermal printing capabilities alone justified Price Chopper's chain wide rollout of Epson's TransScan printer.
The cost savings from the thermal printing feature alone justified Price Chopper's chainwide rollout.
To stay true to its promise of providing quality products at justified prices, Jack Erwin has developed its own direct to consumer model to best manage pricing.