Longman Dictionary of Contemporary English
n. (context finance English) The price which a seller or insurer might reasonably expect to fetch for goods, services or security on the open market.
n. the price at which buyers and sellers trade the item in an open marketplace [syn: market price]
Market value or OMV (Open Market Valuation) is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and may differ in some circumstances.