What is it?

Fair Market Value is the estimated price that an asset would sell for in a transaction between a buyer and a seller. It is the price that would be agreed upon in an open and unrestricted market, where both parties have access to all relevant information and are free to make their own decisions.

Why is it important?

It’s important as it provides a benchmark for determining the value of an asset.  It ensures an equitable pricing process for both buyers and sellers as it prevents overselling or underselling. When listing items on the CUrb sellers are asked to provide a Fair Market Value for the items that they are listing for sale.

Where do I find more information?

For more information, visit Procurement Services’ the CUrb site (Guidelines section), or email ProcurementServices@carleton.ca.