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Can the market value be different from the sales value? This depends on the ability to convert the asset into cash without significant loss of value. What factors affect sales execution? The factors that affect the execution of the sale are called “Liquidity Discount” and can be listed as follows: • Market impact: represents the effect of other offers in the market during negotiation; • Amplitude of purchase and sale offers: affect values with possible discounts; • Delays in negotiations and lost business: affect sales opportunities; • Need to sell: affects the value of the negotiation; • Percentage of the…Read more

We are pleased to share with you our latest report. Mynarski is a sponsor of the American Society of Appraisers International Conference in New Orleans, October 1-3. Again it will be a great opportunity to exchange experiences with the main apraisers and maintain the excellence of our services. Wait for up to date publications on global valuations. Mynarski always ahead of its time….Read more

Mynarski is a member of the IVSC – International Valuation Standard Council and effectively contributes to the international standardization of valuations. The IVSC annual meeting brings together organizations from different countries and defines the guidelines for the global standardization of valuations, ensuring safe investments around the globe. Mynarski contributes to promoting transparency and trust….Read more

The industrial era needed to develop techniques and processes to exploit natural resources and process them in factories. It turns out that natural resources are limited or need time to recover and the exploitation of some of these resources may have exceeded the renewal / regeneration limit. The ecological era is aware of the limits of this exploration and allows the extraction of natural resources, considering the limits of regeneration, conservation, protection and rejuvenation of the environment that sustains our lives. Mynarski knows how to consider these factors in its valuations of companies and assets….Read more

The definition of the discount rate is fundamental in DCF – Discounted Cash Flow valuations. WACC – Weighted Average Cost of Capital is widely used in company valuations. WARA – Weighted Average Return on Assets is used in asset valuations (tangible and/or intangible), as it considers the specific risks of these assets. The sum of the individual valuations of the assets using the WARA must have the same value as the valuation of the company using the WACC (principle of homogeneity). Assets present different risks, as per the suggested table: 1. Money: risk disregarded 2. Receivables: minimal risk 3. Real…Read more

CAPEX (investments in capital goods) is defined according to the company’s needs to maintain or expand its operations and asset valuations define extremely important information for this investment: • Analyzes of the “useful lives” of assets define the best term for these investments; • The values define the “financial volume” necessary for the investments. Asset management organizes investments in the company’s accounting and tax structures to obtain the best financial returns and optimizes the management of these assets. The Mynarski Improving Companies…Read more

Golf courses have several characteristics that must be analyzed in the evaluations, such as: frequency of players, average age of players, course conditions, course management, infrastructure, security, course design, vegetation, environment, legal protection, etc… . The main factors that influence business revenues are the number of players, average per capita income, GDP, number of golf courses in the region, course image, brand, history, members, books and complementary activities such as: resort, hotel, restaurants, events, etc… . The valuation can be carried out by the main methods, the DCF – Discounted Cash Flow being the most used with reliable data of…Read more

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Commercial point is the place where commerce is established and its value is related to factors such as: visibility, access, flow of people, security, among others. The valuation of this asset is carried out through the comparative method of market data, when similar commercial points are researched and the values are adjusted through inferential statistics. Mynarski appraisers master this process….Read more

The evaluation of historic properties considers the uniqueness and memory to be preserved. Historic properties are generally listed by the historical heritage and have restrictions and limitations on use. Replacement cost is a suitable method for evaluation, but HaBu (Highest and Best Use) and unnecessary reproductions should be noted. Income is also suitable and can be estimated by permitted use….Read more