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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

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."

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
A cool and composed Belmonte advised the public to simply disregard the erroneous announcement as "the adjustment of fair market values had already been suspended''.
- Historic and forecast market value for the storage tanks construction industry by construction output and value-add methods for the period 2009 through to 2018.
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The Qatar Stock Exchange scored the highest growth rate in the market value since 2008, the report, by Global Investment House (Global) stated.
"Assessed values went up for all classes of property, even in cases where market values declined because of State limits on assessment growth," said Finance Commissioner Frankel.
How they can talk about increasing year-after-year the property values of market values in downtowns when they've been on a decreasing value."
For example, securities held in trading accounts and financial derivatives are now marked to their market values. Even presumably less volatile assets such as plant and equipment, under certain circumstances, can be written down (though not up) to fair value under FAS 121 and its recent successor, FAS 144.
Further, intangible capital currently constitutes between one-half and two-thirds of corporate market value, of both old and "New Economy" enterprises, as reported by this author in Intangibles: Management, Measurement and Reporting, Brookings Institution Press, 2001.
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Investigations of the management of the LTCM account at several institutions found that an overreliance on the collateralization of the current market value of derivatives positions and the stature of LTCM's managers led to compromises in several key elements of the credit-risk-management process.

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