A person attaches a value to an object – for example, a letter as a memento of a deceased family member – that is higher than the fair market value of that object. This is also referred to as subjective value, affection value and sometimes also intrinsic value. This is not insurable (non-insurable) and also free from special liability for damages; see § 253 BGB – Among collectors (collectors) exchanged rare objects of all kinds, such as historical securities or old books. As a rule, a price can be determined from supply and demand or estimated on the basis of market movements such as auctions or prices of comparable items (ratable, assessable). This type is an insurable objective collector’s value. – Selected assets in demand by a specific group of buyers, such as real estate in a special location. In this case, it is possible to determine the market price; and in this case, the “collector’s market value” ultimately means an unusually high price that occurs in commercial intercourse. – See affection price, fair value, value, intrinsic.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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