PROPERTY VALUATIONS

Greymouth Evening Star, 24 October 1945, Page 3

PROPERTY VALUATIONS

JUDGE ONEXPERTS. AUCKLAND, October 23. Criticism of the evidence of expert valuers was expressed by Mr. Justice Callan in. the Supreme Court to-day after he had heard four such witnesses give their views on the value of a farm. , ~ ~ “I have heard these valuers,” said his Honor, “two on one side and two on the other, and with the greatest resoect to all four of them, I do not find myself much assisted. That, however,” continued his Honor, “is a very common experience of any kind of court which hears gentlemen skilled in the art of valuing discussing value against each other, each on behalf of .parties who are paying their fees. The ■truth of the matter is that the science or- art of valuing properties is not an exact science. There is room for infinite difference of opinion in matters of this sort, and human nature being what it is the expert always tends to lean heavily in debatable matters to the side of the party who is employing him. In the net result the tribunal that is listening to this kind of thing, if it told the truth, as I intend to do here, would say: ‘All that expert valuers do is to cancel each other out, and to make me despair of getting any information worthy of being safely relied upon from sources like that. I intend to put it all aside and seek, for light .elsewhere.’ That is what I intend to do on this occasion.” His Honor thereupon disregarded all expert evidence, and accepted as the value of the farm the price that had been paid for it two years ago.