EXPERT VALUERS

Gisborne Herald, Volume LXXII, Issue 21852, 24 October 1945, Page 7

EXPERT VALUERS

CRITICISM BY JUDGE “NOT AN EXACT SCIENCE” (P.A.) AUCKLAND, Oct. 24. Criticism of the evidence of expert valuers was passed by Mr. Justice Callan in the Supreme Court after he had heard four such witnesses give their views on the value of a farm. “I have heard these valuers," said His Honour, “two on one side and two on the other, and, with the greatest respect to all four of them, I do not find myself much assisted. “That, however,” continued His Honour, “is a very common experlehce of any kind of court which hears gentlemen skilled in the art of valuing discussing the 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 they are told the truth, as I intend to do here, would say, ‘All that the 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 bccasion.” His Honour thereupon disregarded all the expert evidence and accepted as the value of the farm the price that had been paid for it two years ago.