What is the halachic definition of market price? Especially in a day and age of e-commerce what is done regarding assessing the value a given product in a halachic sense?

  • FMV............ – sam Apr 6 '17 at 17:40
  • 3
    It's a good question, but what makes you think that there is a halachic definition of market price? ...it might have something to do with torts or fair pricing; without adding context, this is not a very strong question. (Note also that there may not be a single answer; there may be different ones for different areas of halacha) – Shokhet Apr 6 '17 at 19:33
  • For example, is one allowed to determine market price solely by looking at past sale data, or is more required? Is one allowed to make logical inferences based on knowledge of general trends? E.g. if one knows that a certain car costs $30,000, can one assume that a gold plated version of that car is worth $30,000, plus the cost of the gold, plus or minus a 20% tolerance, or would one need to (consult a subject matter expert in luxury cars, actually offer such a car and see what offers are received, call a rabbi for an official valuation psak, something else, etc.)? – Robert Columbia Apr 6 '17 at 22:34
  • Also, is halachic market price universal throughout the world or can something have a halachic price that varies based on location? Is there one market value for E"Y and one for outside of E"Y, or can there be a separate, e.g. Bahamas Halachic Market Value if conditions in the Bahamas are sufficiently unusual? – Robert Columbia Apr 6 '17 at 22:36

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