Our Methodology -
"The only way to arrive at an accurate market value is
to look at the "MARKET!"
( Time + Market ) +/- Condition = Market Value
Time: A specific and relevant time period in the market. The relative perspective in which an assessment establishes the context for the value opinion.
The market may be viewed in three possible ways; retrospective, current or prospective view. To accurately reflect a value opinion of property time is a key factor - the time when an incident happened is key to validating accurate market conditions. It is necessary to use "Time" as a relevant factor when looking at specific market conditions to establish the context for a value opinion.
Market: The actual amount of like property for sale and sold during a specific period of time, in a specific area. There are many drivers that may effect the market including; supply, demand, economy etc., those drivers may change over time.
By analyzing actual sales data, at a specific point in time, a view of what the actual market is willing to bear for like property with varying types of condition establishes a context for the basis of a value opinion.
Condition: A modifying circumstance; A particular state or situation of a property. All property has a "Condition" (i.e.) new, used, old, good, fair, poor. Condition directly effects the value of property. A vehicle in Excellent condition will holds a higher value than the same vehicle in poor condition.
Damage History is merely one Condition of the vehicle that effects the value. The effect on the value is directly related to the amount of damage history, just as the general condition of the vehicle directly effects the value.
Market Value: A type of value, stated as an opinion, that presumes the transfer of a property, as of a certain date, under specific conditions.
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