fair value

Related Terms
a price paid by a buyer who knows the value of what he or she is buying, to a seller who also knows the value of what is being sold, i.e., neither is cheating the other

Use 'fair value' in a Sentence

In the markets of Istanbul, it isn't uncommon for customers to haggle with shop owners until they both arrive at the fair value price for a given item.
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Knowing what the fair value for your product is can help to determine what the price should be set at.
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The fair value of the item was determined by a rational and logical method so we accepted the amount that was offered.
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