Definition of fair-market value in English:
A selling price for an item to which a buyer and seller can agree.
- Prior to 1969, anyone who created such works could deduct their fair-market value, provided that the works were donated to an appropriate institution.
- With few exceptions, auctioned cars tend to sell in the $400 to $500 range, even if their fair-market value is estimated to be much higher.
- Currently, the main way to get a sense of your stock's fair-market value is - as it's always been - by negotiating a deal.
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