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Market approach valuation is a method used to estimate the value of an asset by comparing it to similar assets recently sold in the market. This technique relies on the principle that the fair market value of a property can be determined by analyzing the prices of comparable assets. By examining recent transactions of similar properties, adjusting for differences, and considering current market conditions, appraisers and analysts can arrive at a reasonable estimate of an asset's worth. The market approach is widely used in real estate, business valuation, and financial analysis, offering a practical and data-driven method to assess value based on actual market activity.