Question

“The Valuer is a reflector of markets and not the maker of market” Critically discuss the above statement.

Answer 1

If we talk about the valuer then this is not a single person even this is a community or group who decide the price of asset at which it should be traded in the market and the price decided for an asset is known as market value or fair market value or fair value .So in this way the valuer reflect the market in regards with the price of asset at which it is traded.

Secondly the term maker of the market does not comprised only the value of the market even a market makes by the infrastructure ,Geographical location,availability of the commodity,times of its opening and closing ,quality of the product available and many other.Valuer decides the trading price of commodity which is major role in making market but ,only trading price can't make a market.So here saying that valuer are maker of market or market maker then it is not completly true.

Conclusion- For a market the not only but most important thing is the price of commodities or assets .So price of assets in the market is the face of market,that's why the valuer or the price decider can be said to be reflector of the market,but the market can't be organised only by the valuer the making of the market requires many other things also as explainedas above .thuse the statement that "The valuer is the reflector of the market not the maker of the market " is perfectly true.