Quote:
Originally Posted by pylon
Just because a $7500 Rolex is only worth $75 bucks to you, it doesn't make it's market value that. It is worth what the intended customer is willing to pay.
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Actually, it's worth what a purchaser would pay in an arm's length scenario. Intention has nothing to do with it. If you can come to me and say "here are 50 examples in the last 3 months where purchasers bought this Rolex, and all paid between $7200 and $7700", you would have established that the fair market value of the Rolex is somewhere in that range. However, if you set MSRP for a product at, say, $100,000, and no one bought it at that price because no one was willing to spend that much, you have zero case for saying that the fair market value of that product is $100,000.