THE ART OF VALUING PERSONAL PROPERTY THE SCSI RECENTLY HELD A CPD EVENT WITH ALEXANDER ARONSOHN OF THE IVSC ON THE VALUATION OF ARTS AND ANTIQUES USING INTERNATIONAL VALUATION STANDARDS.
A
lexander Aronsohn began by explaining that the International Valuation Standards Council (IVSC) is the global body responsible for developing and setting international valuation standards (IVS),
and for promoting and growing the valuation profession worldwide. It is independent and not for profit, and covers all areas of valuation. It works with a number of partners, including valuation professional organisations such as the SCSI. The IVS were updated on July 31 this year, effective an with implementation date of January 31, 2022, to give member six organisations months to update their best practice guidance or standards be to order in compliant. Alexander said that the IVS are mandatory standards, general comprising standards that relate to all specialisms, and assets standards, and
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SURVEYORS JOURNAL Volume 11, Issue 4, Winter 2021
are principle-based, overarching standards. Valuers must follow the ethical principles of integrity, objectivity, impartiality, confidentiality, competence and professionalism to promote and preserve the public trust. They must have the technical skills and knowledge required to appropriately complete the valuation, and must clearly communicate the analysis, opinions and conclusions of the valuation to the intended user or users, and keep a copy of the valuation and a record of the work performed through an appropriate period after completion of the assignment.
Arts and antiques valuation Alexander explained that the IVSC has published a perspectives paper on the art of valuing personal property, which will be available
to
SCSI
members.
He
then
outlined some of the issues that can affect arts and antiques valuation.
