The Estimated Value (or also EV) is the value of a Database Item in Near Mint / Mint condition including its packaging and all spare parts. We display it on the Database Item Search, the Database Item pages, Subject pages and the Showcase (where the owner optionally can opt to not show them).
We are using a proprietary algorithm that is running once a day and takes into account all Price Points that are in our system. In general, more recent transactions have a higher weight in the calculation of the Estimated Value. We display the time the Estimated Value was last updated (not when it was last run, it only updates if there is a new Price Point).