“…in the field of valuation the experience of the valuer and his ability to form a sound commercial judgement is of overriding importance. The process of valuation cannot be reduced to the application of a set of abstract formulae.”
Viscount Simon in Gold Coast Selection Trust Ltd v Humphrey [1948]
“If the asset is difficult to value but is nonetheless of a money value, the best valuation possible must be made. Valuation is an art, not an exact science. Mathematical certainty is not demanded, nor indeed is it possible.”