Commentary

36 Standard of care owed by valuers and appraisers working for auction houses

AUCTIONEERS, ESTATE AGENTS AND VALUERS vol 3(1)
| Commentary

36 Standard of care owed by valuers and appraisers working for auction houses

| Commentary

36 Standard of care owed by valuers and appraisers working for auction houses

Auction houses often engage valuers and appraisers to assist in deciding an appropriate reserve price and catalogue description for items to be sold at auction. Some things are easier to value and appraise than others; fine art and antiques especially can present difficulty, as historical provenance can often be important to their value, and is inherently difficult to establish with any certainty. The valuation of land also requires particular skill.

The standard of care applying to auction house valuers and appraisers in such cases is that of a

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