Fair value is a market price that both the buyer and the seller will accept for the goods or services they are transacting. It is the price at which the seller is willing to part with the goods/services and the buyer is willing to part with the money in exchange for that goods/services. It is the price at which supply and demand meet. The fair value implies that the buyer and the seller have all the information relevant to the transaction and are not in any way forced to make the transaction. It may be different from the intrinsic value.