“The value of an asset is what a person pays or is willing to pay for it (Pablo Fernández, 2000), and no one will pay more for an asset than it would cost them to acquire another of the same quality, utility, age and condition.”
VALUATION is an activity currently governed by a set of principles and methodologies standardised by international institutions (UPAV and IVSC) that are widely accepted worldwide. These methods seek above all to remove subjective elements from the valuer’s judgement and to rely on market evidence, with a systematic treatment of information and methods appropriate to each case.
As Dante Guerrero states (Manual de Tasación, op. cit., p. 6), “the function of valuing should not be limited to finding the value of a thing, but should demonstrate the grounds and weighted analysis that led us to it, in order to satisfy our clients, the judge or the institution that has asked us for this value”
