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  What is Investment Value Anyway?

Price Driven by Purpose of the Appraisal, Professional Standards, Appraiser Overhead

The International Glossary of Business Valuation Terms defines Investment Value as “The value to a particular investor based on individual investment requirements or expectations.” The Guide to Business Valuation Glossary adds the phrase “ distinguished from the concept of market value, which is impersonal and detached.”

The idea of investment value is that it is not based on a hypothetical purchaser who represents a composite of all purchasers for value, but instead on the value to a specified individual with a specified set of investment criteria and especially those with the potential for synergistic value. It arises mostly where the appraiser is asked to estimate the value of a business entity to a potential purchaser who is known and identified at the outset. This might be the value, perhaps, of shares in a target company to its acquirer, where the merger of the acquirer and the target together will result in a combined value greater than the sum of the individual values.

Business Valuation Articles
  Good Business Intermediaries Can Attract the Right Investors
  Marketability Misconceptions
  More Marketability Misconceptions
  Selecting a Business Appraisal Firm
  Forensic Accounting in Divorce Matters
  Standard of Value is Everything!
  Why is the Date of Valuation Important?
  In re: Marriage of Duncan
  Why do we take a Minority Discount?
  What’s the Difference Between a Control Premium and a Minority Discount?
  What is “Fair Value” Anyway?
  Mart v. Severson
  ABCs of Appraiser Credentials
  “Core Earnings” Measure Alters Landscape
  What is USPAP?
  How Much Should a Business Appraisal Cost?
What is Investment Value Anyway?
  Mediation-Valuation gives parties opportunity to “work-through” valuation to reach compromise
  What is Forensic Accounting?
  Current Lessons for U.S. Equity Investors
  Apportionment Methods - Pereira-VanCamp
  Highest and Best Use..
  Minority Shareholder Oppression – Fraud Investigation
  What's Real?
  Report Types and Level of Service
  Testimony and the Valuation Expert
  The Art of the Deal
  INC. Magazine article: What is your company worth NOW?
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