the price that land, stumpage, products, etc., would bring if sold today —note market value depends on current market conditions such as the structure of the market (e.g., competitive versus monopolistic), the available alternative supplies offered by other sellers and the prices they would accept, the number of interested prospective purchasers and the prices they would be willing to pay for various quantities and qualities, and the availability of substitutes This definition last updated 07/14/2008