Abstract
Appraisal is often said to be “an art not a science” but this relates to the techniques employed to calculate value not to the underlying concept itself. Appraisal practice has documented different bases of value or definitions of value both internationally and nationally. This paper discusses these definitions and suggests that there is a common thread that ties the definitions together.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Crosby, N., Valuation Accuracy, Variation and Bias in the Context of Standards and Expectations. Journal of Property Valuation and Investment, 2000, 18(2): 130–161.
French, N., Market Information Management for Better Valuations: Concepts and Definitions of Price and Worth. Journal of Property Valuation and Investment, 1997, 15(5): 403–411.
Graaskamp, J. A. The Appraisal of 25 N. Pinckney: A Demonstration Case for Contemporary Appraisal Methods
James A. Graaskamp. (1977). Landmark Research Inc, Madison.
IVSC, International Valuation Standards. International Valuation Standards Committee, London. 2001.
Kinnard, William N., New Thinking in Appraisal Theory. The Real Estate Appraiser, 1966: 2–13.
Kinnard, W. N., Income Property Valuation. Heath Lexington Books, Lexington. 1971.
IVSC, International Valuation Standards, International Valuation Standards Committee, London. 2000.
Mallinson Report, Commercial Property Valuations. Royal Institution of Chartered Surveyors. 1994.
Mallinson, M. and French, N., Uncertainty in Property Valuation:The Nature and Relevance of Uncertainty and How it Might be Measured and Reported.Journal of Property Investment & Finance, 2000,18(1): 13–32.
Ratcliff, R., Urban Land Economics. McGraw Hill, New York. 1949.
Ratcliff, R., Valuation for Real Estate Decisions. Democrat Press, Santa Cruz. 1972.
Ratcliff, R., Readings on Appraisal and its Foundation Economics. Landmark Research, Madison. 1979.
RICS, RICS Appraisal and Valuation Manual. Royal Institution of Chartered Surveyors, London. 1996.
TEGoVA (The European Group ofValuer Associations) European Valuation Standards (2nd Edition), Estates Gazette, London. 2000.
Editor information
Rights and permissions
Copyright information
© 2003 Springer Science+Business Media New York
About this chapter
Cite this chapter
French, N. (2003). A Question of Value: A Discussion of Definitions and the Property Pricing Process. In: Sirmans, C.F., Worzala, E.M. (eds) Essays in Honor of William N. Kinnard, Jr. Research Issues in Real Estate, vol 9. Springer, Boston, MA. https://doi.org/10.1007/978-1-4419-8953-6_2
Download citation
DOI: https://doi.org/10.1007/978-1-4419-8953-6_2
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4613-4734-7
Online ISBN: 978-1-4419-8953-6
eBook Packages: Springer Book Archive