Is fair market value and current market value the same?

Fair market value and current market value are often used interchangeably, but they can have different implications. Fair market value refers to the price that a knowledgeable buyer and seller would agree upon in an open market, considering all relevant factors. Current market value, however, typically reflects the price at which an asset could be sold in the present market, which may be influenced by recent transactions or market trends. Therefore, while related, they are not necessarily the same.