By Bruce McGechan, CVA — Fealty Business Valuations
A professional business valuation in New Zealand typically costs between $2,200 and $15,000 + GST, depending on who does it, what type of report you need, and what you’re using it for. Independent specialist valuers generally charge fixed fees starting around $2,200. Accounting firms work on time-and-materials and rarely publish prices — expect $7,000 to $15,000+. Business brokers offer free appraisals, but those aren’t independent valuations (more on that below).
The range is wide because “business valuation” means different things depending on who you ask. A 40-page fixed-fee report for a shareholder buyout is a different product from a 150-page litigation-ready expert opinion. Both are called valuations. They’re not the same thing.
This page breaks down what each type costs, what drives the price, and how to pick the right report for your situation. All fees are in NZD and exclude GST.
These are firms whose only business is valuation. No audits, no tax returns, no brokerage commissions. Because that’s all they do, they can quote fixed fees and publish them.
Prices in this category range from around $2,200 for a small-business report up to $7,900 for a litigation-ready Conclusion of Value. Some publish their fees online. Others will quote you upfront before any work begins.
Fealty charges $3,900 + GST for an internal shareholder transaction — a buyout, management succession, family transfer, or buy-sell agreement trigger — and $7,900 + GST for a litigation-ready valuation.
One other specialist independent valuer in New Zealand publishes a tiered fee schedule based on business turnover, ranging from $2,200 for businesses under $2m turnover to $4,900 for court-standard reports. Fast-track surcharges apply at each tier.
The big national and international firms e.g. BDO offer business valuation services, usually sitting under a “Transaction Advisory” or “Deal Advisory” practice.
None of them publish prices. Engagements are scoped individually and billed on time-and-materials. Based on market rates for mid-tier accounting firm advisory work, expect indicative ranges of $7,000 to $15,000+ depending on complexity. Larger transactions or contested valuations can run higher.
This model suits large transactions, listed companies, and situations where the firm already holds an audit or advisory relationship. For a straightforward SME shareholder buyout, it’s a lot of fee for a report that may not serve the purpose better than a specialist valuer.
At the entry level, several tools let you run your own valuation. Free calculators give you a quick directional number using the capitalisation of earnings method. Paid tools — ranging from around $149 to $490 + GST for NZ-built options, or USD99–275 for overseas platforms — walk you through multiple valuation approaches and produce a report you can use in planning conversations.
Software is useful for understanding the methodology or getting a rough number before committing to a professional engagement. It won’t produce a report suitable for a shareholders’ agreement, court proceeding, or any situation where the number has to be defensible to a third party.
Business brokers offer free appraisals. A broker who appraises your business earns a commission if you list and sell through them. That’s not a conflict of interest, exactly; it’s just a very different incentive structure from an independent valuer who has no stake in what number comes out.
Broker appraisals are useful for orientation. They’re not suitable for shareholder agreements, court proceedings, or any situation where the number has to be defensible to a party who didn’t choose the appraiser.
There are two fixed-fee independent valuers currently operating in New Zealand who publish prices, but take different approaches to price structure.
One uses a turnover-based tier model, ranging from $2,200 + GST for businesses under $2m turnover up to $4,900 + GST for court-standard or Family Court reports, with fast-track surcharges of $850–$1,400 + GST available at each tier.
Fealty uses a purpose-based structure instead — the fee reflects what the report is for, not the size of the business. Fixed prices are based on the estimated hours to complete each report type. A $2m business and a $10m business take roughly the same number of hours to value; what changes the hours — and the fee — is the report standard, not the revenue. For more on standards see FAQ What’s the difference between a Calculation of Value and a Conclusion of Value?
| Service | Fee (+ GST) | Report length | Turnaround |
|---|---|---|---|
| Internal Shareholder Transaction or Selling a Business: Calculation of Value | $3,900 | 40 pages | 3–4 weeks |
| Shareholder Dispute or Relationship Property: Conclusion of Value | $7,900 | ~150 pages | 8 weeks |
Both models are transparent and fixed before work starts. You know the cost before you commit.
Accounting firms generally price valuations on time-and-materials because every engagement is different — different scope, different complexity, different number of hours. The engagement letter defines the scope; the final invoice reflects actual time spent.
That’s not unreasonable for large, complex transactions. But for an SME shareholder buyout, it means you’re signing up for an open-ended fee with no ceiling.
Report type. A Calculation of Value is a fixed-scope report that applies agreed valuation methods to produce an indicated value — it’s the right tool for internal transactions, succession planning, and buy-sell agreement triggers where both parties accept the methodology. A Conclusion of Value applies all relevant valuation approaches, fully documents every assumption and adjustment, and is built to withstand challenge in mediation, arbitration, or court. The Conclusion report takes significantly more hours to prepare. That difference in hours is the single biggest driver of cost.
Hours. Fixed prices are based on estimated hours to complete — not on the size of the business being valued. A $2m turnover business and a $10m turnover business take roughly the same number of hours to analyse and write up. What changes the hours is the report standard: a 40-page Calculation of Value takes significantly less time than a 150-page Conclusion of Value with full documentation, and court-ready footnoting. That’s why report type drives cost more than business size.
Business size and complexity. More revenue, more entities, intangible assets, unusual industry — these add time and therefore cost. A straightforward service business with clean financials takes less work than a multi-entity manufacturing group with related-party transactions.
Purpose. An internal shareholder buyout where both parties want a fair number quickly is a different job from a shareholder dispute proceeding where the report may be challenged by opposing counsel. Purpose determines the required rigour — and rigour costs time.
Credentials. A Certified Valuation Analyst (CVA, credentialed by NACVA) holds a pure valuation credential. A CAANZ Business Valuation Specialist has completed specialist valuation training within a chartered accountancy pathway. The credential matters most when the report has to withstand scrutiny.
Internal shareholder buyout, management succession, or family transfer. An independent valuer’s report at $3,900–$15,000 range (higher from some firms) is the right tool. You want a report that neither side chose the number for — something independent, explained clearly, and usable in shareholder discussions without legal escalation. This is the most common valuation engagement Fealty does.
External sale. A full independent valuation — $2,200 to $15,000 depending on complexity — gives you a certified, defensible asking price before you go to market or respond to an unsolicited approach.
Court proceedings: shareholder dispute or relationship property Expert evidence standard. A 150-page Conclusion of Value, typically $7,900 to $20,000+ depending on provider. The report needs to fully document every assumption, adjustment, and methodology so opposing counsel has something substantive to engage with rather than just dispute. Fealty’s dispute valuation is $7,900 + GST fixed.
Not every owner needs a professional valuation right now. Some are still figuring out whether the business is worth valuing at all. Others want to understand the methodology before they engage a valuer. For those owners, self-service software is a reasonable starting point.
A few options worth knowing about:
For NZ market transaction data: Bizstats NZ is the only aggregator of NZ SME sales data, covering transactions collected from brokers nationwide. If you’re trying to apply the market comparables approach, this is where the data may come from for small businesses.
For a quick global benchmark: NIMBO offers a free 13-page valuation report based on real purchase offer data, updated monthly. No registration needed. Global data set — not NZ-specific, but useful for orientation.
For a professional-grade desktop tool: ValuAdder covers all three approaches with built-in cost of capital data and unlimited scenario modelling. One-time purchase around USD $275. Best suited to owners with some financial literacy.
For startups and growth-stage businesses: Equidam combines five startup-oriented methods and benchmarks against 4 million+ private companies. NZ is a supported jurisdiction.
For NZ owners wanting a structured DIY report: Fealty’s business valuation software ($490 + GST) walks through all three valuation approaches — income, market, and asset — with 215 minutes of video instruction at each step. It produces a valuation report. Built specifically for the NZ market by a CVA.
For advisers and accountants: Valutico and Bstar are professional-grade platforms designed for financial advisory use rather than owner self-service. Worth knowing about if you’re working with an adviser who uses either platform.
One important caveat: every tool in this list produces an indicative result. None meet the standard required for a shareholder dispute, relationship property proceeding, or court engagement. For those purposes, a professional independent valuation is required. The software tools are useful for understanding the inputs and methodology, preparing for negotiations, or deciding whether it’s worth engaging a valuer at all.
Most NZ valuation firms don’t publish their prices. You have to call and ask — and the number you get may change once they’ve scoped the job.
That’s partly because every engagement is different, and partly because professional services pricing culture in New Zealand has always leaned toward “discuss first, quote later.” It works for some clients. For others, it creates friction — you don’t know if the cost is within reach before you’ve spent 30 minutes on a discovery call.
Fealty publishes fixed prices because a business owner deserves to know the cost before committing. A valuation that’s supposed to produce a fair outcome should have a transparent fee attached to it.
1. No price or estimate before work starts. A competent valuer can scope a job and give you a fee estimate.
2. The valuer also sells businesses. A broker who appraises your business and then earns a commission on the sale has an incentive to produce a number that wins your listing. That’s not independence.
3. No named valuation credential. Ask what credential they hold and what body issued it. CVA (NACVA), ABV (AICPA), CBV, or CAANZ Business Valuation Specialist are reasonable answers.
4. Purely hourly billing with no estimate or cap. For an SME valuation, there’s no good reason for a completely open-ended fee. A skilled valuer has done this enough to give you a reasonable range.
5. The report type doesn’t match the purpose. A broker appraisal used as the basis for a shareholders’ agreement. An indicative desktop report presented in Family Court. Report type and purpose have to match — if they don’t, the report can be challenged or set aside entirely.
How much does a business valuation cost in NZ?
A fixed-fee independent valuation costs between $2,200 and $7,900 + GST depending on business size, report type, and purpose. Some firm valuations run $7,000 to $20,000+ on a time-and-materials basis.
Is a broker appraisal the same as an independent valuation?
An independent valuation is produced by someone with no stake in the result and no commission on any subsequent transaction. Only the independent valuation is suitable for shareholder agreements, court proceedings, or any situation requiring a defensible number.
Do I need a valuation for an internal shareholder buyout?
Not legally — you can agree on any price you like. But when one shareholder proposes a number, the other tends to question it, and resentment can outlast the transaction by years. An independent valuation produces a number that neither side chose, explained in plain English and fully documented. For most buyouts, the cost of that report is a fraction of the cost of a legal dispute if the agreement breaks down later.
What’s the difference between a Calculation of Value and a Conclusion of Value?
A Calculation of Value uses agreed procedures to produce an indicated value — it’s faster and less expensive, but the scope is limited by what the parties agreed to include. A Conclusion of Value applies all relevant valuation approaches and is fully documented to withstand scrutiny. Conclusions of Value may be required for court proceedings (seek legal advice) and contested disputes; Calculations are suited to internal transactions where both parties accept the methodology.
How long does a business valuation take in NZ?
A fixed-fee independent valuation for an internal transaction typically takes three to four weeks from receipt of information. A full Conclusion of Value for dispute or court purposes takes eight weeks. Fast-track options are available from some providers at a surcharge.
If you’d like to know what a valuation would cost for your specific situation, call or email Bruce at Fealty. You’ll get a clear answer and a fixed price before any work begins — no obligation, no discovery call that turns into a sales pitch.
Bruce McGechan, CVA Fealty Business Valuations 021 245 8881 bruce@fealty.co.nz fealty.co.nz
Note: Competitor pricing figures in this article are based on published schedules and indicative quotes current as at Februray 2026. Accounting firm ranges are indicative — contact firms directly for a scoped quote. All fees exclude GST.
This article is published for general information. It doesn’t constitute legal or financial advice. For advice specific to your situation, contact a qualified valuation professional.