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fair market price

the price of something at which both a seller and a buyer are willing to strike a deal.
Origin of fair market price
1925-30 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for fair market price
  • Once the appraisal is completed, you will be contacted with the property's fair market price.
  • The contracting officer shall estimate the fair market price of the work to be performed by the contractor.
  • Where no open market exists, the taxpayer must use other evidence to substantiate a fair market price.
  • The purchase price is the fair market price on the date the option is granted.
  • Determine that award can be made at a fair market price.

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