In general, businesses were allocated 92% of the selling price or the internal benchmark established prior to entering the market. Companies operating in the $5 million+ category typically surpass the benchmark set.
<$1M in purchase price typically goes to market with an asking price whereas those in the $2M-$50M typically go to market without an asking price, however, with an expectation of what buyers will most likely pay (benchmark). Those between $1M & $2M may fall in either camp.