The quantity of value is an estimate or approximation. The estimated quantity of value is based on an appraisal or a valuation. It can be expressed either as
Price is not value, neither in concept nor in quantity. Price is a market-generated quantity.
- an interval estimate or
- a range of quantitative values, or
- as a single-point estimate or
- a single quantity of varying precision.
Price is not value, neither in concept nor in quantity. Price is a market-generated quantity.
- The confusing term "market value" is really market price.
- The confusing term "fair market value" is really fair market price.
- The fair market price is the price that equals the single quantity that best approximates investment value.
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