The paper notes that the current coronavirus epidemic has created a significant layer of uncertainty which has permeated all markets. While this is not necessarily just confined to the basis of market value, however, it still raises its own specific challenges:

• How does the valuer quantify market value with a lack of market comparable information in the new COVID-19 world?
• Where market comparable information is available, have the parties ‘acted knowledgeably, prudently and without compulsion’?
• Does a pandemic environment enable parties to undertake ‘proper marketing’ or do sales that are witnessed in the early stages of such an event represent an environment comprised of overly willing sellers and opportunistic buyers that is more aligned with a liquidation market?

Review the perspectives paper on the IVSC's website.