Glossary entry (derived from question below)
German term or phrase:
gemeine Wert / Verkehrswert
English translation:
"presumed/assumed" fair value / fair value
Added to glossary by
Ted Wozniak
Feb 23, 2012 17:16
12 yrs ago
12 viewers *
German term
United Kingdom
satisfaction guaranteed
Native in: English
Works in: Dutch to English, Flemish to English, French to English
gemeine Wert / Verkehrswert
German to English
Law/Patents
Law: Contract(s)
Austrian compensation law
this concerns compensation under Austrian law for non-performance
Bei einer ausschließlich zum individuellen Gebrauch geeigneten, niemand anderem dienlichen Sache bestimmt sich der „gemeine Wert" (mangels Verkehrswertes) nach den Herstellungskosten
earlier in the text it says:
Zu ersetzen ist der „gemeine Wert", also der Verkehrswert.
Hat eine Sache keinen Verkehrswert, so sind gewöhnlich die Kosten ihrer Neuherstellung zu ersetzen.
It appears that they use gemeine Wert and Verkehrswert interchangeably.
Bei einer ausschließlich zum individuellen Gebrauch geeigneten, niemand anderem dienlichen Sache bestimmt sich der „gemeine Wert" (mangels Verkehrswertes) nach den Herstellungskosten
earlier in the text it says:
Zu ersetzen ist der „gemeine Wert", also der Verkehrswert.
Hat eine Sache keinen Verkehrswert, so sind gewöhnlich die Kosten ihrer Neuherstellung zu ersetzen.
It appears that they use gemeine Wert and Verkehrswert interchangeably.
Proposed translations
(English)
| 4 +3 | "presumed/assumed" fair value / fair value |
Ted Wozniak
|
| 3 +1 | fair value / market value |
Kim Metzger
|
References
| gemeiner Wert - Verkehrswert |
Johannes Gleim
|
Change log
Mar 8, 2012 15:47: Ted Wozniak Created KOG entry
Proposed translations
+3
16 mins
Ted Wozniak
United States
United States
Native in English
Specializes in field
United States
Bridging the Language GAAP-
Native in: English (Variant: US) 
Works in: German to English
Related KudoZ points
:
114
Selected
"presumed/assumed" fair value / fair value
I've researched these terms for a presentation I gave on translation German tax texts. Here's an excerpt.
As defined in the German Bewertungsgesetz:
the gemeine Wert - the presumed selling price that could be attained in a normal business transaction
Der gemeine Wert als Bewertungsmassstab ist der Preis, der im gewöhnlichen Geschäftsverkehr nach der Beschaffenheit der Wirtschaftsgüter bei der Veräusserung zu erzielen ist.
Verkehrswert is fair value/market value.
The distinction is that the Verkehrswert is an actual value, the gemeine Wert is a "presumed" fair value (usually only for tax purposes).
As defined in the German Bewertungsgesetz:
the gemeine Wert - the presumed selling price that could be attained in a normal business transaction
Der gemeine Wert als Bewertungsmassstab ist der Preis, der im gewöhnlichen Geschäftsverkehr nach der Beschaffenheit der Wirtschaftsgüter bei der Veräusserung zu erzielen ist.
Verkehrswert is fair value/market value.
The distinction is that the Verkehrswert is an actual value, the gemeine Wert is a "presumed" fair value (usually only for tax purposes).
Note from asker:
| I Like this suggestion - I'm still looking into it. |
Peer comment(s):
| agree |
Johannes Gleim
: see Reference
2 hrs
|
| agree |
Harald Moelzer (medical-translator)
5 days
|
| agree |
Dipl.-Kfm. Bernhard Aicher MBA
72 days
|
4 KudoZ points awarded for this answer.
Comment: "Selected automatically based on peer agreement."
+1
13 mins
Kim Metzger
Mexico
Mexico
Native in English
Specializes in field
Mexico
Committed to Quality and Service
Native in: English (Variant: US)
Works in: German to English
Related KudoZ points
:
1256
fair value / market value
I'm not sure about this, but it looks like a good possibility.
http://ivd.net/der-bundesverband/nachrichtendetail/archive/2...
Fair value vs market value
The latest edition of International Valuation Standards (IVS 2007), clearly distinguishes between fair value, as defined in the IFRS, and market value, as defined in the IVS:
So As the term is generally used, Fair Value can be clearly distinguished from Market Value. It requires the assessment of the price that is fair between two specific parties taking into account the respective advantages or disadvantages that each will gain from the transaction. Although Market Value may meet these criteria, this is not necessarily always the case. Fair Value is frequently used when undertaking due diligence in corporate transactions, where particular synergies between the two parties may mean that the price that is fair between them is higher than the price that might be obtainable on the wider market. On other words Special Value may be generated. Market Value requires this element of Special Value to be disregarded, but it forms part of the assessment of Fair Value.
http://en.wikipedia.org/wiki/Fair_value#Fair_value_vs_market...
http://ivd.net/der-bundesverband/nachrichtendetail/archive/2...
Fair value vs market value
The latest edition of International Valuation Standards (IVS 2007), clearly distinguishes between fair value, as defined in the IFRS, and market value, as defined in the IVS:
So As the term is generally used, Fair Value can be clearly distinguished from Market Value. It requires the assessment of the price that is fair between two specific parties taking into account the respective advantages or disadvantages that each will gain from the transaction. Although Market Value may meet these criteria, this is not necessarily always the case. Fair Value is frequently used when undertaking due diligence in corporate transactions, where particular synergies between the two parties may mean that the price that is fair between them is higher than the price that might be obtainable on the wider market. On other words Special Value may be generated. Market Value requires this element of Special Value to be disregarded, but it forms part of the assessment of Fair Value.
http://en.wikipedia.org/wiki/Fair_value#Fair_value_vs_market...
Reference comments
2 hrs
Johannes Gleim
Native in German
40 years Engineer, 20 years translations
Native in: German
Works in: English to German, German to English, French to German, and 6 more.
Related KudoZ points
:
32
Reference:
gemeiner Wert - Verkehrswert
gemeiner Wert m
(StR) fair market value, § 9 BewG
(ie, the price which can be realized for an asset under normal market condition; applicable unless a different measure of value is specifically prescribed)
Verkehrswert m
(com) current/fair .. market value
- salable value
(Schäfer, Wirtschaftswörterbuch Deutsch - Englisch)
(StR) fair market value, § 9 BewG
(ie, the price which can be realized for an asset under normal market condition; applicable unless a different measure of value is specifically prescribed)
Verkehrswert m
(com) current/fair .. market value
- salable value
(Schäfer, Wirtschaftswörterbuch Deutsch - Englisch)
Discussion
No wonder the BGH ruled that, "in the end, they result in identical values".
I view this as similar to "Einkünfte", seen only in tax contexts, and "Einkommen", seen in the "real" world.
[BGH, Urteil vom 27. November 1961, Az. III ZR 167/60]
http://www.leopoldsberger.de/fachbegriffe/Wertbegriffe/Verke...