Book value is a colloquial term used to indicate a generally accepted market price of property. The term insinuates that a published compilation of pricing information exists which represents the views of one or more authorities on the valuation of the asset.
For example, if you pawn an item of jewelry the pawnbroker may offer a price based on a percentage of book value. In this case, the pawnbroker may have no idea of the market value of the jewelry and thus refers to some established price list to determine a fair price. A book value may or may not be derived from an actual book. Price lists may be maintained in electronic format. Book values generally are compiled from national data and may vary from one locality to the next.