We are well used to these experts knowing absolutely nothing about property prices. It hasn't stopped some of the most incompetent ones jumping on the gravy train that is NAMA as official valuers including the imbecile that valued the Glass Bottle site in Dublin 4 at over €400m. However, when it comes to art and atefacts one would think that in the spirit of Lovejoy that some of these people would know their business. Not so. Yesterday at a sale in Durrow an item went for 157 times its valuation, no doubt assessed by a "competent valuer". The tragedy is that his commission is paid on the price achieved and not on his valuation.
Chinese jade seal valued at €5,000 fetches €630,000 - National News - Independent.ie