What is your view of the appraisal concept we call "value" and/or "market value?" Do you view this concept as a real thing that can be discovered in the marketplace? In other words, is this concept an objective reality that one can estimate or derive with relative certainty from real data and facts? Or is this concept strictly a mental name or label... for a numerical result that we derive from our subjective consciousness? How should this concept be viewed by our profession in today's world? That is the issue of this article. It is an issue of philosophy and the nature of reality as we perceive it. And the issue affects how we develop our reports and present our conclusions to our clients.