I see your point WT, but I think I lean toward Boulder on this one.
I'm looking at a Dr J signed jersey online right now. There are a few of the jerseys that aren't even "real" Sixers jerseys and about the same price as an official jersey. Are they worth the same? Absolutely not, but market value is the same as that's what people are willing to pay. But what is the real "fair value" if someone is willing to pay that price?
The point? That is what fair value is. An agreed price between buyer and seller. And it's usually determined by the market, by supply and demand. It is not defined or determined by an accountant. That is the book value or appraised value. And we have all seen, even in the last couple of years, in the housing market and stock market, the disparity that can exist between fair value and book/appraised value.
You are correct- fair value is a thing in business and government balance sheets. But Deloitte and Touche doesn't decide how much a John Mateer autograph is worth. The buyer and seller do, and what the going demand is in the market.
I hope I'm wrong for the sake of reigning this thing in, but as Boulder said, no way an accounting firm's valuation or opinion on what someone's Name Image and Likeness is worth holds up in the courts.