Definition
The amount by which the ask price exceeds the bid price for an asset in the market (Ask Price - Bid Price).
In Panel Profits
The spread between wholesale dealer buy-list offers (bid) and retail auction/collector asking prices (ask) for a certified comic slab.
Comic-market example
A raw Fantastic Four #48 with a dealer cash buy offer of $1,800 (bid) and an average retail market price of $2,400 (ask) has an FMV Liquidity Spread of $600 (25%).
Calculation
FMV Liquidity Spread = Retail Ask Price - Wholesale Buy-List Bid Price
Common mistakes
Buy and sell bands are order-book spread indicators, NEVER separate comic grades. Do not create fake grades like '4_0_BUY'.