Experts in this field are valuation specialists who have focused their studies on the monetary worth of a businesses’ stock or merchandise. Valuation is the process of estimating the worth of an item using professional knowledge, expertise and judgement. In this case, it relates to making estimations on the value of every stock item held by a retailer, and how many they have.
Valuation of merchandise is generally performed for the purposes of insurance, sales or trade, taxation, or, in the case of physical stores, loss protection. It allows for a proper understanding of the items held by the business and informs sales strategy. Knowing the value of their items and assets also benefits the business in that they can then adequately protect and maintain their stock, so that their value is preserved; for example, if a majority of their stock are delicate and high-value art pieces, they may take special care in the way they store and display the works. Valuation can also be undertaken to determine how much money the business loses to theft each period, and can inform the punitive or preventative measures they take thereafter. Value is a somewhat nebulous thing, but can be determined by examining the condition, age, degree of wear, and functionality (especially with collectibles such as electronics or toys) of an object.
Experts in this area come from many professional backgrounds. Many will have worked in fields specific to merchandising and stock, such as a business manager or owner. Some will be trained valuation experts, or perhaps have worked in valuation for an insurance company. They may also be historians focused on the historical and cultural significance of particular objects. The specific specialisation and background needed in your personal property valuation expert will be determined by the matter which requires examination and will vary wildly depending on the type of items sold by the business.
At the bottom of this profile are brief details of a number of the experts that Expert Experts represents. Call our office to discuss your requirements and to obtain a recommendation that suits your needs and budget.Expertise in Action
Experts in valuation as it relates to stock and merchandise can be called upon to assist in cases involving business dissolution, theft cases, insurance matters, and many more.Sample Reports
For some fields of expertise we have some sample sections of de-identified reports. Please contact our office if you are interested in a sample.Cost
The overall cost of expert opinion depends on the services required. Some of the key factors that affect the cost of advice include:
- The need for a view or inspection of a location
- The quantity of documentary material to be reviewed
- Whether there are reports of other experts to be reviewed and commented on in detail
- Whether there is a need for conferences with the expert either in person or by telephone/Skype
A helpful and accessible summary of how the value of merchandise is determined.Valuations for Family Law Purposes
A helpful summary of when and how valuations are used in Family Law proceedings.Methods of Merchandise Inventory Valuation
A helpful resource covering the different methods of stock valuation.Relevant Cases Lenehan, G.H.R. and Lenehan, J.I.  FamCA 8; (1987) FLC 91-814; (1987) 11 FamLR 615 (30 April 1987)
A case in which the value of stock at a pharmacy was a matter of controversy.Rees v Bank of NSW  HCA 47; (1964) 111 CLR 210 (14 August 1964)
A case in which the value of stock had been misrepresented.Related Blog Articles
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