Market price: observed, not set

Name: Domaine aux Conseillans
Address: 35 Chemin du Limancet, Saint-Caprais-de-Bordeaux, Nouvelle-Aquitaine, 33880, FR
Telephone: +33619700435
Price range: €€

The standard

An observed price formation rests on completed sales, not on asking prices: only the transaction that took place shows what is actually paid.

Criteria

It arises from completed transactions, not from offers
It names a point in time, for it changes with the market
It can differ from the set release price
It is verifiable, because it rests on transactions

Distinction

Market price ≠ release price: the release price is set, the market price settles. Market price ≠ worth: what a good costs does not say what it means to an individual. An observed price formation therefore measures the trade, not the esteem.