Business appraisers and financial experts rely on a number of databases of private company transactions. The IBA database is one such product...but it has a large weakness: brokers and advisors are paid directly to submit data. This creates a number of credibility issues that can easily be attacked under cross-examination: first, what kind of business broker would be motivated by a $25 check to submit a client's financial information and deal documents? The direct payment also creates database self-selection conflicts (do brokers only submit transactions that make themselves look good?).
So, the next time you're facing an appraiser on the stand, ask where they got their market comparables from.