MARKET APPROACH
\mˈɑːkɪt ɐpɹˈə͡ʊt͡ʃ], \mˈɑːkɪt ɐpɹˈəʊtʃ], \m_ˈɑː_k_ɪ_t ɐ_p_ɹ_ˈəʊ_tʃ]\
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Arriving at an asset's, instrument's, or interest's appraisal value using this method. Based on similar items' prices and availability when sold within the last three to six months. Includes evaluating differences in quality, quantity, or size and making reasonable adjustments. Also known as market based approach or market comparison approach. Also refer to cost approach and income approach.
By Henry Campbell Black
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