§ 823 [Valuation Methods for Property Without Comparable Market]

When something has value but there is no easy way to compare it to similar items that have been sold, a court can use any fair method to figure out what it is worth.

This comes up with unique or unusual property, like a one-of-a-kind piece of art, a rare antique, or a specialized piece of equipment. Because there are no similar sales to look at, the normal rules for setting a value do not apply.

A judge has flexibility to accept different ways of calculating value, as long as the method makes sense and treats everyone fairly. Experts, records, or other evidence can all be used to help the court reach a reasonable number.