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So, by definition, 110% of “fair market value” is fair if someone buys at that price? Doesn’t that mean the scare-quoted “fair market value” isn’t?
by mikeash 7y ago
So, by definition, 110% of “fair market value” is fair if someone buys at that price? Doesn’t that mean the scare-quoted “fair market value” isn’t?
- dragontamer 7y agoIn my eyes, "fair market value" is roughly (bid_price + ask_price) / 2. In effect, "fair market value" is a survey-result, based on how much buyers are bidding and how much sellers are asking. 80% to 110% isn't a perfect split between the buyer and seller, but its "within expectations".