I don't agree with most of the posters.
EMT is based on availability of information on the factors that go into the price. That sort of information isn't readily available. Many of the factors aren't quantifiable either, leading to further market inefficiencies. Finally, there isn't a market per se. Preferences vary and there's not way for people with one preference to trade to those with another in order to add value.
Finally, $500K? Ouch. I do alright for myself, but I'm not near that range (sorry girls). Senior partners at law firms usually don't pull in that much.