marketplace en
Fair market value
marketplace
Also called: FMV
Plain-language definition
Plain-language definition
The price a willing buyer and seller would reasonably agree on in an open market.
Why it matters
It provides a reference for pricing used devices, claims, credits, and trade-ins.
Technical detail
Fair market value is an evidence-based estimate under normal conditions, not necessarily the original retail price, asking price, or replacement cost.
Examples
- Recent comparable sales help estimate a repaired laptop’s fair market value.
Related terms
Sources and review
Reviewed July 12, 2026 by [email protected]. Next review due July 11, 2027.
- Online Shopping — United States Federal Trade Commission Accessed 7/11/2026
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