Old 11-20-13, 05:20 PM
  #35  
CroMo Mike 
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I realize this whole "what's it worth?" forum is just for fun, but let me add to the discussion.

The answer to the question "what is something worth?" is the "fair market value." Fair market value is defined as the price at which something would likely change hands between a willing seller and a willing buyer, when neither is under any compulsion to enter into the transaction. Yes, it's an estimate, sometimes a wild guess. The estimate of value should assume that both parties are aware of all relevant facts, including, but not limited to, the location, the condition of the item, trends in the market, completed sales prices of comparable items, possible rises in market value in the future, etc., etc. Why is that so difficult? An appraiser is not required to have any personal interest in buying or selling the item to make that call. Real estate appraisers, insurance adjusters, and tax assessors do it all the time.

It would also be nice if the pictures hung around longer so others could view the thread in it entirety and possibly learn something from it. All the words in the world leaves one clueless when the pictures of the slightly rough Raleigh worth $150 are no longer there.
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