The only alternative would be to price the issue based on the museum's liquidation value.

The liquidation value is probably about $140 a share.

Nearly a quarter of them, he figures, are trading below liquidation value.

Liquidation value refers to the amount you can expect to recover in a forced sale situation.

Obtain a written liquidation value appraisal before you entertain any offers.

Similarly, 5,029 borrowers were allowed to "buy out" their loans at current liquidation values.

"This company has great liquidation value," he said.

To establish the liquidation value of your assets, work with a qualified appraiser.

Liquidation value is typically lower than fair market value.

"They thought the only thing standing between them and $30 to $35 a share in liquidation value was Parker Montgomery," he said.

As it currently stands, the preferred stock has a liquidation value of $30.80 and pays a 10 percent dividend for the first four years.

This guarantees a minimum liquidation value per share in the event that a business combination is not effected.

Mr. Winchester said some of the companies are undervalued, since the liquidation value was about $13 a share.

Once you have your liquidation value appraisal, estimate your net sale proceeds.

A quick calculation showed that Salomon's share price implied a value for the company less than its liquidation value.

However, a proposed management buyout was rejected as its liquidation value was needed to pay off the parent company's debts.

The total liquidation value of Narragansett's portfolio, not including the original $32 million in cash, would be roughly $276 million over nine years.

Liquidation value is the most probable price that a specified interest in real property is likely to bring under all of the following conditions:

The convertible securities, which will have a liquidation value of $150 million, will be placed in a private offering with institutionalinvestors.

In the first transaction, American Express will buy a new issue of cumulative preferred stock, with a liquidation value of $250 million.

A value investor is primarily attracted by asset-oriented stocks with low prices compared to underlying book, replacement, or liquidation values.

Liquidation value may be either the result of a forced liquidation or an orderly liquidation.

Those shares, which came out of a bankruptcy reorganization, have a liquidation value of $100 each and an annual dividend of $5.

Preferred stock may or may not have a fixed liquidation value (or par value) associated with it.

Adjusted book value is a calculation of a company's liquidation value and takes into account the present value of future premiums.