(2) is definitely a regular occurrence in my experience talking with retirement age or older business owners. There is this inherent misjudgement of value, the

(2) is definitely a regular occurrence in my experience talking with retirement age or older business owners. There is this inherent misjudgement of value, the only way to describe it is to compare it to car owners who put $X into their car to modify it or repair it. Then turning around and saying the cost to buy is (stock price) + $X. And there is no bargaining with them, their way or the highway. They especially don't want to hear cost versus ROI based on profits of the past 5 years. So honestly, in my experience - start your own small company and keep an eye out for when their business folds because no one will buy at inflated prices... Then buy what you need from the auction they eventually have to recoup some money from their shuttered business.