dlanod
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- #1,976
It's true that we rarely see an open market.
That doesn't alter the principle that trade value is determined by the market.
If that's your argument then you need to add a disclaimer after your every use of "market value".
A normal person (or economist) with an understanding of the term "market value" is fundamentally different to that. The element of a competitive market is fundamental to the concept. Just because you're using a well-understood term and trying to apply your own definition doesn't validate that claim.
Here's some definitions of market value from a variety of sources:
The highest estimated price that a buyer would pay and a seller would accept for an item in an open and competitive market.
Market value or OMV (Open Market Valuation) is the price at which an asset would trade in a competitive auction setting.
The price which a seller of property would receive in an open market by negotiation, as distinguished from a "distress" price on a forced or foreclosure sale, or from an auction.
If Yarran is traded to Richmond because it is the only club he will allow a trade to, then the value will not be set by the market. Carlton may end up getting close to market value depending on what Richmond hands over, but the market is not involved in setting that value - it is purely between Richmond and Carlton. If other clubs could reasonably bid for Yarran and he goes to the highest bidder, then that would involve market value.






