No, becasue it's not publicly traded...
(1) no SEC or other regs (fair value, etc)
(2) without an appraisal or recent sales, no justification FOR a higher value
IRS would say (for determining estate values for estate tax, basis value for capital gains of inherited assets, value of charitable deductions, etc) that Fair Market Value (FMV) = ...
"Fair market value. Fair market value (FMV) is the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts."
So with no buys or sells, no required SEC reporting and plenty of support that FMV means what a disinterested 3rd party would pay, there no real support or regulation for a different price.
From an academic finance perspective (and this MAY reflect his thinking AND what someone MIGHT pay) what an asset generates in income (capitalization of income) IS what's being (or a large factor IN what's being ) bought or sold.
But from a regulatory perspective I do not see the need.
Here's a great quote:
Accounting Principles Underlying Asset Measurement
The accounting view of asset value is to a great extent grounded in the notion of historical cost, which is the original cost of the asset, adjusted upward for improvements made to the asset since purchase and downward for loss in value associated with the aging of the asset. This historical cost is called the book value. Although the generally accepted accounting principles for valuing an asset vary across different kinds of assets, three principles underlie the way assets are valued in accounting statements.
� An abiding belief in book value as the best estimate of value: Accounting estimates of asset value begin with the book value. Unless a substantial reason is given to do otherwise, accountants view the historical cost as the best estimate of the value of an asset.
� A distrust of market or estimated value: When a current market value exists for an asset that is different from the book value, accounting convention seems to view it with suspicion. The market price of an asset is often viewed as both much too volatile and too easily manipulated to be used as an estimate of value for an asset. This suspicion runs even deeper when values are estimated for an asset based on expected future cash flows.
� A preference for underestimating value rather than overestimating it: When there is more than one approach to valuing an asset, accounting convention takes the view that the more conservative (lower) estimate of value should be used rather than the less conservative (higher) estimate of value.