Fair Market Value (FMV)

Category: finance

The price a piece of art would sell for in an open market between a willing buyer and a willing seller.

FMV is not the artist’s asking price, but what the *market* actually pays. Dealers determine FMV by analyzing auction results (sales records) for similar works by the same artist, adjusting for quality, size, era, and current market demand cycles.

Common Examples

• We conducted a comparative FMV audit using recent auction hammer prices to justify our aggressive listing price for the vintage prints.
• Setting a price significantly higher than the true fair market value often results in the artwork sitting "stale" on the inventory wall for months.