"What's he want for it?" asks Darryl in The Castle whenever he hears of someone selling odds and sods. Darryl is the "Aussie battler" father figure in this 1997 hit Australian comedy film. On hearing the numbers his stock response is: "Tell him he's dreaming."
Darryl is valuing odds and sods. To price or value a business the more useful question is "What's it worth?" It's a common question when someone wants to sell, buy, lease, license, borrow, lend, attract equity capital, partner, outsource or carry out numerous other legal transactions. There is rarely a stock answer.
The topic of valuation is taken up by two lawyers in our firm this month in practical articles in the Library section of this Website. The first article is by Daniel Dwyer and is titled 51 hints to achieve your premium business sale price.