How Much Should a Business Appraisal Cost?, Business Valuation Article - Inc. Article | Inc.com: "Like any other professional service, such as legal services, medical care, financial advisory services, or accounting services, the price of appraisal services to the ultimate user should always be one consideration in selecting the professional or professional firm. However, it's usually not appropriate to shop for the lowest priced vendor, or to use competitive bidding to obtain the lowest price. The heart patient whose life may depend on the skill and judgment of his surgeon, wouldn't be smart to put his surgery out to bid. Similarly, the client whose financial fortunes may rely on the quality of work or the effectiveness of testimony by his valuation expert should probably not make a decision on hiring an appraiser based primarily on lowest fees."
Beware of Low-Cost, Low-Wisdom Appraisals - Your Financial Life May Depend on It! In business appraisal, the low-end software-driven product should be approached with caution. In general these products are designed to give quick, and not necessarily accurate answers to price shoppers, and by design deny the client the expertise of the appraiser's many years of valuation wisdom. Often these are done by part-time appraisers, or are loss-leaders intended to lure clients into more expensive consulting agreements. Users should beware of any appraiser who is willing to render an opinion of value without a site visit, personal interview, and hands-on inspection of the company's financial and administrative records.
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