Member Press Releases

No. ‘My opinion’ just isn’t good enough

11 Feb 2020

As a professional you have a duty of responsibility to your customers, this includes the valuations you produce for them. Barry Sullivan, PTSI Steering Group Chair gives his opinion on Valuations in the jewellery industry on why practical experience is a benefit. 

The NAJ wants to keep you safe, which is done by providing a course termed Practical Valuation Techniques; this is a three-day practical tutorial, designed to be learnt alongside and in conjunction with the theoretical knowledge from CAT. 

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Image: Course attendees take on advice from tutor David Byrne. 

However, first things first, this 3-day hands on experience will keep you compliant with the industry’s best practice, alongside other professionals honing their valuation skills and abilities.  The next PVT tutorial is in Birmingham in March (10th – 12th).

This is what Caitlin Little, a recent PVT tutorial attendee said to me. “From beginning to end I thoroughly enjoyed the whole experience.  The amount of knowledge I have gained over the three days is phenomenal and given me a greater understanding of my current studies - the CAT course.

“I will definitely use all my notes and knowledge gained over the past few days to succeed in the course and any further education.  Both David and Barry were great tutor's for our class and I hope to stay in contact with them as I pursue my career path of hopefully one day becoming an IRV.

“The one-to-one tutor time gave me the opportunity to gain some career guidance on which paths to follow on completion of my CAT course, which I can't wait to get started on.  It was lovely to get a 'hands on' experience with the different tools of the trade and the gemstones and jewellery.”

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If you’re not an Institute Registered Valuer (IRV), or working with one, when it comes to valuations, it’s no longer acceptable to simply say ‘it’s just my opinion’. The public has a right to expect that you can justify your valuations by working to our industry’s best practice. By carrying out an accurately constructed valuation, with working notes, you could avoid the risk of future litigation.

The Practical Valuations Tutorial, together with the Certificate of Appraisal Theory (CAT) programme and other qualifications, can help you on your path to becoming an IRV member – an Institute Registered Valuer with all that this professional registration entails.

If you are offering valuation services to the consumer, I implore you to either look to work with an IRV, or take the time to understand standards at a practical valuations tutorial, while also getting a few hints and tips from attending along the way.

Did you know?

As a current or past CAT student you can attend the tutorial at the discounted CAT student rate.

 

Source: Barry Sullivan | Opinion