Glossary
Market Value
An estimate of the price an asset might command in a relevant market under specified conditions at a particular time.
Definition
Market value depends on the market, timing, condition, documentation, supply, demand, fees, and assumptions used. Asking price, auction estimate, retail price, insurance value, and realized sale price are not interchangeable.
Origin
Market-value concepts are used in economics, valuation standards, taxation, finance, insurance, and professional appraisal practice.
Usage in luxury
Comparable sales may inform a market estimate for collectibles, but condition and provenance can materially affect comparisons. Desirables editorial content is not a professional appraisal or investment recommendation.
Examples
- - A realized auction price after buyer fees
- - A dealer's asking price that may differ from a completed sale