FMV: Fair Market Value- is an opinion expressed in terms of money, at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell, and both having reasonable knowledge of relevant facts, as of a specific date. (Machinery and Technical Specialties Committee of the American Society of Appraisers, July 25, 2010).  

OLV: Orderly Liquidation Value- is an opinion of the gross amount, expressed in terms of money, that typically could be realized from a liquidation sale, given a reasonable period of time to find a purchaser (or purchasers), with the seller being compelled to sell on an as-is, where-is basis, as of a specific date. (Machinery and Technical Specialties Committee of the American Society of Appraisers, July 25, 2010).

NOLV: Net Orderly Liquidation Value is the estimated net amount after sales expenses (brokerage fee, insurance, time value of money) that the aircraft would bring in a liquidation sale given a reasonable amount of time to find a purchaser, but where the seller is compelled to sell on an “as-is, where-is” basis. Defined by HeliValueS, Inc.