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For What It’s Worth: I Couldn’t Have Said It Better! – October 2014

“For What It’s Worth” is a monthly newsletter written by Director Rand Curtiss.

I was recently deposed as an expert witness, and the attorney asked me to explain the rationales of the three appraisal approaches: Market, Income, and Asset.  I responded that:

  1. The Market Approach is based on what an asset could be sold for.
  2. The Income Approach is based on what an asset could earn (or cash flow).
  3. The Asset Approach is based on the cost of creating or replacing an asset.

The attorney then asked a perceptive question:

“So you are saying that the Market Approach assumes a sale, the Income Approach assumes a hold, and the Asset Approach assumes cost?”

I could not have said it better, and I complimented her on a superb summary of the differences between the three approaches.  You will see it in all of my future appraisal reports!

Valuations play a part in all tax, transaction, and litigation matters.  For additional information or advice on a current one, please do not hesitate to call.

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About Western Reserve Valuation Services LLC
Western Reserve Valuation Services LLC, based in Columbus, Ohio, is a leading provider of valuation services and financial opinions relating to corporate finance transactions, corporate tax planning and compliance, succession planning and wealth preservation, employee stock ownership plans (“ESOPs”), financial reporting and portfolio / fund valuations.  For more information, visit www.wesresvaluation.com or call (614) 448-3700.

Western Reserve Valuation Services is an affiliate of Western Reserve Partners LLC, a FINRA-member investment banking firm offering financial advisory services relating to mergers and acquisitions, capital raising and financial restructuring. For more information on Western Reserve Partners, please www.wesrespartners.com or call (216) 589-0900.

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