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Get practical tips for your next auto dealership valuation from top industry experts who provide practical advice and guide you through two case studies.

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BVResearch Pro is a complete knowledge library with a wealth of the best business valuation research, news, legal analysis, webinar transcripts, and BVR publications in one platform. The BVResearch Pro’s sophisticated search engine helps you find answers more easily than ever before. Stay current with access to 8,000+ articles (and counting), legal digests, and more from the world’s foremost thought-leaders in business valuation.  Learn more and subscribe >>
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What It's Worth: Hotel Business Value

June 2016 PDF (99 pages)

In "What It's Worth: Hotel Business Value," the authors provide an overview of the opportunities available in the hospitality industry and walk readers through a detailed case study covering valuation considerations from estimating room revenues and expenses to applying a cost approach and asset allocation method.  Learn more >>

Valuing Companies with Real Estate: Appraisal Experts Untangle the Issues (PDF)

September 2014 978-1-62150-043-8 PDF (118 pages)

BVR’s special report,Valuing Companies with Real Estate: Appraisal Experts Untangle the Issues addresses the unique concerns and challenges of valuing a company with real estate. This report, with perspective from both real estate and business appraisers will help steer the profession toward a more sensible consensus.
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Business Valuation Update Yearbook 2015

February 2015 978-1-62150-048-3 Hardcover, PDF

BVR has you covered with the latest news in the business valuation profession! Get your Business Valuation Update Yearbook 2015 now to stay up to date with the most innovative approaches and techniques, leading conferences, new court decisions and changes in regulations and standards in the profession with on-the-ground reporting from valuation experts, thought-leaders and the BVR editorial team. Learn more >>

Business Valuation Update Yearbook, 2017 Edition

February 2017 Hardcover, PDF (349 pages)

BVR has you covered with the Business Valuation Update Yearbook 2017. This newest edition from the publishers of Business Valuation Update covers the year’s most groundbreaking and thought-provoking advancements in business valuation including IRC Sec. 2704, DLOM, cost of capital, and more. This critical desktop reference keeps you ahead of your peers with on-the-ground reporting from valuation experts, thought-leaders, and BVR’s editorial team. Learn more >>

Ask the Valuer

Q: Do you do site visits of competitors of your subject company?

Court Accords Equal Weight to Competing DCF-Based Hotel Valuations

In granting creditor’s stay relief motion, court averages competing expert valuations and finds debtor has no equity in contested hotel; court says value gap is result of experts’ legitimate disagreements over hotel’s future performance as reflected in inputs for DCF-based analyses.

Latest What It’s Worth guide examines hotels

The latest in the new series of What It’s Worth guides brings you the expert insight you need to understand and value hotels.

Hotel Valuation: Breaking the Rules—But Getting it Right!

This article explains why the dominant method for the appraisal of hotels is contrary to the main methods used for the appraisal of other real estate-centered enterprises (RECEs) and is therefore flawed. Furthermore, this method does not mimic the way hot ...

Creative Destruction and the Perpetual Growth Assumption

In determining terminal value in a discounted cash flow (DCF) valuation, it is usually assumed that a mature company will grow at a constant rate in perpetuity. The impact of creative destruction and disruptive innovation interrupts and reverses historical growth patterns. If to the extent that the assumption of constant perpetual growth is invalid, the commonly used growth model in DCF analyses will overstate terminal value and cause overvaluations. The perpetual growth concept needs to ...

Statutory Fair Value in Dissenting Shareholder Cases: Part II

This article continues the discussion of statutory appraisal that was presented in Part I in the prior issue of Business Valuation Review. Fair value, the predominant standard of value employed by state courts to value dissenters' shares in appraisal cases is, is determined by state law. In most states, fair value is the shareholder's pro rata portion of the value of a company's equity. This article discusses the approaches used by the Delaware courts' views ...

Hospitality Valuation: Check in Time

Do you suffer from guideline-public-data-phobia? Symptoms include comparable company size anxiety and difficulty with adjustments and cost avoidance. You’re not alone. Many appraisers suffer from guideline-public-data-phobia and avoid using public data in their private-company valuation assignments. Perhaps it’s time for you to have a talk with an expert. Join Linda Trugman and Rob Schlegel for an update on this fundamental skill. Hear advice for factoring in public market evidence through economic and industry data to ...

U.K. Case Law Update: Recent Decisions That Impact Your Valuation

Business valuation is undergoing significant evolution in the UK, and it's impacting the way valuations are treated in court. Join valuation experts Andrew Strickland and Luke Morris for a look at recent UK cases that address key areas of business valuation, including the increased use of definitions from the International Valuation Standards in Court. Get briefed on four cases that challenge the roles of UK valuation experts, and get tips for using financial models in ...

Intangible Asset Valuation for Property Tax Compliance and Appeal Purposes

Many business appraisers currently use their intangible asset valuation expertise for fair value accounting, income tax, gift and estate tax, and similar engagements. This webinar will describe how BV analysts can use this same expertise to expand their intangible asset valuation practices by assisting industrial and commercial taxpayers with property tax compliance, appeal, and litigation services.

Using Pricing Multiples and Rates of Return to Value Family Limited Partnerships

Do you value family limited partnerships (FLPs)? Do you know the proper application of pricing and rate of return data to derive a value using both the market approach and income approach? Do you know the best sources of empirical market data to use when valuing an FLP or other noncontrolling interest in a real estate-related entity, consistent with Rev. Ruling 59-60? Join this discussion on the practical application of the concepts discussed in Comprehensive ...

Restaurant Valuation: Industry Segments, Trends, and the Impact of Real Property

Restaurants are one of the most prevalent business types in the U.S., with recent counts at over 600,000 of various types. Due to intensive competition, there is a high failure rate. There is also substantial activity in the sale of restaurants, which creates a need for business valuation work, whether for SBA financing or for a buyer or seller. Business appraisers are challenged to account for industry risk in assigning an appropriate discount rate. Franz ...

Valuing the Misuse of Intellectual Property Online

The internet has enabled business to expand across the world but has also aided IP infringement and defamation to spread with the same ease. Experts Doug Bania and Brian Buss will update you on the internet and social media analytic tools available to valuation consultants and will deliver case studies on how to deploy these tools in your valuations and damages calculations. Bring your questions and become a better expert.

Projecting But-For Profits

Do you feel like being asked to calculate but-for profits feels like an engagement in another dimension? Calculating the harmed party in a position that it would have been “but for” the alleged acts is an advanced skill for appraisers. Join expert and contributing author to The Comprehensive Guide to Economic Damages, Stacey Udell, for a discussion of different strategies to determine net lost profits including the critical step of removing incremental costs that did ...

Fair Value in 2018: The Impact of the Tax Cuts and Jobs Act

What in business valuation does the Tax Cuts and Jobs Act impact? Everything—including fair value. Join Mark Edwards for a discussion on how NOLs, goodwill, and ASC 805 are all impacted by recent tax law changes. Understand the base erosion anti-avoidance tax provisions and how expensing tangible property impacts your fair value assignments. Be confident in the changes you make for 2018 engagements with a thorough review of your income and market approaches.

Business Prenups, Relationship Counseling, and Corporate Divorce

Healthy business relationships are an essential component of business success. As an advisor, it is important to recognize the foundations of a healthy business relationship and to account for same in valuing a business. Join William Piercy and Mark Zyla for a discussion of the factors that improve or detract from productive business relationships and the impact of those factors on the value of a business. If internal dissension within the management, operations, or ownership ...

Social Media: Who Owns It and What Is It Worth?

What’s worth more to a business: a Tweet, a share, a like, or a dollar bill? With over 80% of businesses now using social media, understanding how social media creates value is no longer an optional skill for professional business appraisers. For technology and social media companies, the value of their network can be the most critical part of their business. Expert Mark Zyla (@MarkZyla) shares his knowledge in this engaging session that will be ...

Valuing Closely Held Farms and Ranches With Economic Reality

Valuing a minority interest in an entity with farm/ranch ownership and/or operations can be tricky. As analysts, we are bound to valuation theory, but economic reality must play a role as well. As valuation professionals know, an owner of a minority interest cannot force liquidation of assets, so that precludes us from strictly employing the asset approach. However, cash flows from farms and ranches are very low in relation to the underlying ground; as such ...

Down-to-Earth Considerations for Appraising Private Space Commercialization Companies

Since the inauguration of the International Space Station in 2000, and accelerated with the termination of the Space Shuttle program in 2011, the private sector has been given an unprecedented opportunity to lead the commercialization of space. From satellite launch and operation to cargo deliveries to the International Space Station, space tourism, mineral prospecting, and colonization, the commercialization of space is capturing the imaginations of entrepreneurs and the attention of investors. Though a relatively small ...

Treasonable Compensation? The Continued Misapplication of the Excess Earnings Method

Just when BV practitioners thought that reasonable compensation in professional practices had been figured out, Kevin Yeanoplos and Ron Seigneur are here to stir things up. The (mis)application of the excess earnings method has vexed appraisers to no end. In this session, you’ll confront the most common errors that you don’t even know you are making when it comes to reasonable compensation. Be a part of this practice-changing session.

Valuing Real Estate Holding Companies: A Deeper Look at the Underlying Data with Case Study

Real estate holding companies often have vastly different characteristics than your average manufacturer or retailer. As such, everything from the underlying data, applicability of the valuation approach, and risk-adjusted discount rate should be examined. Russell Glazer of Gettry Marcus CPA, PC will guide you through the distinctive aspects of valuing real estate holding companies with a special focus on understanding the underlying empirical market data such as REITS, closed-end funds, and real estate limited partnerships.

Valuations for Complex FLPs

Once an appraiser adopts a more analytical method for valuing FLPs by using the income and market approaches, certain types of partnerships may be considered complicated. This webinar will focus on valuing complex FLPs including multiple-asset FLPs, oil and gas FLPs, and non-income-producing FLPs using case studies. In addition, the speaker will share his opinion on issues such as how to handle the FLPs that own privately held stock, other partnership interests, venture capital funds ...

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