Who should Value goods Taken Control of?

The Taking Control of Goods Regulations 2013

Who should Value goods Taken Control of?

The regulations under The Taking Control of Goods Regulations 2013 Part 2 Para 35 state:

• The Enforcement Agent but if not the Enforcement Agent then it should be a qualified independent valuer.

The Enforcement Agent

If an Enforcement Agent takes control of a second hand TV then the experience of the agent may be sufficient to determine the value.

The valuation is sent to the debtor so if they dispute it they can arrange for an independent valuation.

When the goods are sold at auction then market forces determine the correct market value.

If the Enforcement Agent valued the TV at £100 and the debtor valued it a £500 the debtor may wish to get a valuation done. The debtor however would find that to get a qualified independent valuer to do the valuation it would cost a significant amount of money in relation to its value.

Enforcement Agents should look at the goods they have taken control of and if the goods require no specialist knowledge to work out the second-hand value, such as electrical goods, household / office furniture or second hand cars then they would complete the valuation themselves.

Unless the Enforcement Agent was using the wrong method of sale or needed to use a specialist auction then the valuer’s opinion is only an opinion and the day of the auction would be the test.

Qualified Independent Valuer

If the Enforcement Agent took a painting that he thought was reproduction and sold it through a general auction for £50 despite the debtor claiming it to be a Picasso and saying it should go to Sotheby’s then he the Enforcement Agent would have been negligent in his duty.

If the goods require a specialist to decide on their value like jewellery, works of art, handmade furniture or antiques then a qualified, independent valuer should be used.

We can help

Quality Bailiffs has over twenty five years of experience in completing seizure removal and the sale of goods especially in the commercial rent sector.

The Regulations

Valuation of controlled goods section 35

1. This regulation applies where an enforcement agent makes (paragraph (2)) or obtains (paragraph (3)) a valuation of controlled goods as required by paragraph 36(1) of Schedule 12.
2. Where the enforcement agent makes the valuation-
   
   1. the valuation must be in writing, signed by the enforcement agent and set out-
      
      1. the enforcement agent’s name, the reference number or numbers and the date of the valuation; and
      2. where appropriate, a separate value for each item of goods of which control has been taken; and
   2. the enforcement agent must provide a copy of the written valuation, once made, to the debtor and any co-owner.
3. Where the enforcement agent obtains the valuation the enforcement agent must-
   
   1. only instruct a qualified, independent valuer;
   2. instruct the valuer to make a written valuation and, where appropriate, to value each item of goods separately; and
   3. provide a copy of the written valuation, once made by the valuer, to the debtor and any co-owner.

read more industry news