Assume every valuation will be challenged

BVWireIssue #219-2
December 9, 2020

valuation methods & approaches
expert testimony, litigation support, valuation standards, valuation report

“As appraisers, our reputation is our single most valuable asset. The best way to protect our reputation is to practice due diligence and to prepare every appraisal report as if it will be challenged.” Good advice from Theresa Brossmer, an ASA-accredited appraiser in appraisal review and management as well as gems and jewelry, writing in the November 2020 issue of the ASA’s Appraisal Review & Management E-Journal. She stresses the importance of information and data in backing up your opinion of value. She recalls a wise instructor of hers who said: “There is no wrong answer in appraising as long as you can defend your position with relevant factual data and logical analysis.” To read her full article, click here. The ASA’s appraisal review and management (ARM) area offers a separate credential that stretches across each of the appraisal disciplines, namely business valuation, machinery and technical specialties, gems and jewelry, personal property, and real property.

This article has been revised to reflect the correct individual to whom these remarks are attributed.

Please let us know if you have any comments about this article or enhancements you would like to see.