Dave Long, CPA, CVA shows how his client had a first-hand experience with the value of an item and how it can differ drastically:
We can all agree that the “fair market value” of a standard BB gun is about $20. Yet, if the right BB gun is sold to the right buyer, the “synergistic value” could be 500 times that.
For Corrigan Krause client Brian Jones, owner of A Christmas Story House and Museum, the synergistic value of the authentic Red Rider BB Gun used in the classic movie was $10,000. This article explains how he happened upon the remarkable memorabilia.
Just as in the business world, the value of something may not be what it first appears. To find out more about business valuations and the appropriate application of fair market value and synergistic value, I encourage you to visit our Business Valuations page and contact me to talk one-on-one.