Value as listed in inventory/cargo screen

When you put something in your cargo hold (loot, ore, salvage, whatever) and it gives you an isk value at the bottom of the window, where does that number come from, upon what factors is it based? Is it an average of buy / sell orders in whatever region you happen to be in? I already knew it wasn’t an accurate number, but I was sorely disappointed when an item of loot I picked up that said was 70 million isk could only be sold to buy orders for 20 million and there weren’t even any sell orders listed and no history of the item being sold in my main trade hub (Amarr). So taking into account the VAST difference in loot calculation in inventory and the reality, where does that loot number even come from?

IIRC it is the main average of buy and sell, over all regions

So in theory, not counting the opportunity cost of FINDING said market, but in theory you should be able to get that value SOMEWHERE in the galaxy?

Try looking at it with evemarketer.

Not necessarily. sometimes the value is very high due to an item having been rare and traded for high amounts, but it has recently been handed out like candy and is actually borderline worthless - see this hilarious thread about that very experience:
Four Freedoms Firework exploit and other broken items

Other items show a ‘0’ value but are actually VERY valuable, they simply don’t sell on the Market - their sales are via Contract or Hypernet. Research blueprints, and T2 BPCs, are both examples of this.

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It is based of the average of all sell and buy orders across New Eden over a three month period.
It’s used in quite a few industry calculations.

For high turnover, high volume items then it’s a fair reflection of the value of the item and a good indication of what you should be able to get for the item.
Depending on the state of the market of course…

Does it mean that you can get that price?
That’s a more awkward question and doves into the definition of “value of item” (the price at which two the buyer and seller will exchange it btw).
There are items on sell orders that will almost never be sold for that price - items in very low demand for example, where no one wants it enough to pay that price.
It also depends on do you just want the ISK so directly selling to a buy order or are you willing to create a sell order and wait for it to be accepted.

If you are in the manufacturing business (I suspect you are) then it’s rare to make a profit selling directly to buy orders. Tools such as Fuzzworks and Marketeer are invaluable. Eve Appraisal is handy for "how much is this tat worth? assessments.

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