When you think about it, when a corporation buys out another corporation they usually pay far more than what the physical assets are worth.   It seems like it takes them years to recover what they pay and often times they just buy to eliminate the competition.   I don't see where this is much different with farming except that sometimes you buy to keep the neighbor from getting the land.   The point is it's common in all many business lines to overpay and still make it work.