TORONTO–(BUSINESS WIRE)–What is the value of Disney World? This is a question thought leaders
set out to answer at the RICS
Summit Series in Miami in March 2018. A recent court decision
validated the panel’s findings.
As part of its Summit Series, RICS includes a very popular luncheon
panel that attempts to pin a value on one of the host cities’ icons.
Barden Prisant, President of Telepraisal in New York City and an expert
on valuation of art appraisal, hosts the panel, which includes an expert
who is able to provide an insider’s look at the asset valued during the
At the RICS Summit in Miami, Amanda Levine, an associate with expertise
on tax law from the law firm Moffa, Sutton and Donnini, joined Prisant
to answer the question: You’re buying Disney World! Are you getting a
beauty, or a beast?
The major issue with determining the value of Disney World is lack of
evidence. Disney is notoriously secretive about providing income numbers
so the RICS panel had to proceed without data.
Just a few short months later, a judge in Orlando has issued an opinion
showing our RICS Panel had hit the issues spot-on. It identified the
same two key points raised by the speakers: the property should be
valued according to the income method and it is impossible to value
Disney’s land without separating the Disney name, and corresponding IP,
from the equation.
Based on the evidence it had, the court’s analysis cut the property
appraiser’s assessment in half to be in line with the value assigned to
it by the Prisant and Levine.
“It was surprising to find that the court was willing to proceed without
much more data than we had during our speculation,” said Prisant. “The
fact that the judge accepted the expert testimony, based on income
numbers that were not provided, was a coup for this Epcot Property.”
RICS Americas resumes its Summit Series in 2019 with events in Los
Angeles, Miami and Vancouver. Prisant will once again be the keynote
speaker and follow the tradition of assigning values to iconic
landmarks. For more information on the Summit of the Americas, go to rics.org.
RICS promotes and enforces the highest professional qualifications and
standards in the valuation, development and management of land, real
estate, construction and infrastructure. Our name promises the
consistent delivery of standards – bringing confidence to markets and
effecting positive change in the built and natural environments.
Amie Silverwood, 437-990-4695