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Valuing an asset when there is no buyer

Mark Lipson says “Valuation of real property or a business is a mixture of art and science. The science relates to the objective facts and analysis. The art refers to the valuer’s experience relied upon when determining a valuation opinion from the facts and the analysis undertaken.

“I should point out that there is a difference between value and price.

“Price is determined by the bargaining process between the buyer and seller, where they agree on a particular price to transfer an asset. But in circumstances where that is not going to occur, I have to determine the value using a market-based assessment of that business as if there is a hypothetical buyer and seller who are prepared, but not anxious, to enter into negotiations for that business.”

Talk about this with our team, contact Hall Chadwick Forensics 03 9820 6400 or email forensics@hallchadwickmelb.com.au.

Read more on Mark Lipson.

Reproduced with permission from Inside Family Law: Conversations from the Coalface, by Zoë Durand, 2018  published by Longueville Media.