fair market value: the price of a property or object that a knowledgeable buyer and seller agree upon, in an unforced transaction that takes place in an open marketplace.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use FMV in a sentence
And the two of us say that paying college athletes their "fair-market value" is a batty idea.
The farmer sells his wheat, at a fair market value, to the miller, or pays him a stipulated percentage for grinding and bolting.Norman's New Orleans and Environs | B. M. Norman