Legal Definitions - market quotation

A market quotation refers to the current price at which a particular asset, commodity, or security is being offered for sale or can be purchased in a public market at a specific point in time. It reflects the interplay of supply and demand among buyers and sellers, providing an immediate snapshot of an item's value in a recognized trading environment.

Here are some examples illustrating market quotations:

• Stock Market Prices: Imagine an individual checking the current price of shares for a publicly traded technology company, such as "Global Innovations Inc." on a financial news website or a brokerage platform. The price displayed, for instance, "$150.25 per share," represents a market quotation. This figure indicates the last price at which a share of Global Innovations Inc. was bought or sold on the stock exchange, or the current bid and ask prices, reflecting what buyers are willing to pay and what sellers are asking for at that moment.

• Commodity Exchange Rates: Consider a manufacturer who needs to purchase a large quantity of copper for their products. They would look up the current price of copper per metric ton on a commodity exchange. If the price is listed as "$9,500 per metric ton," this is a market quotation. It signifies the prevailing price for copper in the global commodity market, influenced by factors like mining output, industrial demand, and geopolitical events, allowing the manufacturer to understand the immediate cost of their raw material.

• Used Vehicle Valuations: Suppose someone is planning to sell their five-year-old sedan, a "Reliable Motors Model X." To determine a fair asking price, they might consult online used car marketplaces or automotive valuation guides. The average price range suggested for a Model X of that year and mileage, perhaps "$18,000 - $20,000," serves as a market quotation. This range reflects what similar vehicles are currently selling for in the used car market, based on recent transactions and current listings, helping the seller gauge the vehicle's immediate market value.