hobblecreek
Well-known member
In its simplest sense, fair market value (FMV) is the price that real property would sell for on the open market. A term commonly used in tax and real estate, fair market value has come to represent the price of an asset under the following usual set of conditions: Prospective buyers and sellers are reasonably knowledgeable about the asset, behaving in their own best interests, free of undue pressure to trade and given a reasonable time period for completing the transaction. Given these conditions, an asset's fair market value should represent an accurate valuation or assessment of its worth.
Clearly, this description of FMV is apt to real estate, but I also think it fits the buyer (or winner) of this auction: knowledgeable, acting in his/her own best interest, and free to advance the price or walk away at any point. And hopefully the buyer feels the price was worth what was bid and eventually paid.
Collectively, I think we should celebrate when someone acquires an instrument they truly want and place a special value on. I am in no position to judge the actions or what is spent by anyone, either a high or low dollar amount. I am not a fanboy of the material possessions we buy, sell or own – I am more a fan of a community and culture that lifts and revels in the good we can bring to each other. These are the kind of people I want to associate with.
I don’t normally reply to these kinds of threads on this or the guitar forums I belong to, but for once I wanted to state my opinion on the matter. And yes, it’s just my opinion, but I think it is shared by many here on UU.
Clearly, this description of FMV is apt to real estate, but I also think it fits the buyer (or winner) of this auction: knowledgeable, acting in his/her own best interest, and free to advance the price or walk away at any point. And hopefully the buyer feels the price was worth what was bid and eventually paid.
Collectively, I think we should celebrate when someone acquires an instrument they truly want and place a special value on. I am in no position to judge the actions or what is spent by anyone, either a high or low dollar amount. I am not a fanboy of the material possessions we buy, sell or own – I am more a fan of a community and culture that lifts and revels in the good we can bring to each other. These are the kind of people I want to associate with.
I don’t normally reply to these kinds of threads on this or the guitar forums I belong to, but for once I wanted to state my opinion on the matter. And yes, it’s just my opinion, but I think it is shared by many here on UU.
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