Marktwert

Marktwert, or market value, is the estimated price at which an asset would exchange hands in an open, competitive market under normal conditions, assuming informed, willing buyers and sellers and no duress or special incentives. It reflects current supply and demand and is not fixed to a specific transaction or cost basis such as purchase price or book value.

The concept applies to various asset classes, including financial instruments, real estate, and whole businesses. In practice, market value is derived through valuation methods that aim to capture what a typical market participant would pay. Common approaches include the market data or comparable method (using prices of similar assets), the income method (discounted cash flows or capitalization of earnings), and the cost method (replacement or reproduction cost adjusted for depreciation). For real estate, market value often relies on comparable sales, income capitalization, or discounted cash flow analyses.

Several factors influence market value, such as liquidity, risk and financing conditions, tax considerations, regulatory environment, and macroeconomic conditions. Market value is an estimate subject to uncertainty and can fluctuate with market sentiment, information, and transaction costs. It is used in financial reporting, negotiations, insurance, taxation, and regulatory contexts as a benchmark for asset pricing, rather than as a guaranteed or intrinsic value.