/ Dictionary / Index F fair market price: Meaning and Definition of Find definitions for: fair' mar'ket price" Pronunciation: [key] the price of something at which both a seller and a buyer are willing to strike a deal. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. fairly fair-minded Related Content Daily Word Quiz: deleterious Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language