Credibility and Truth in Market Value Estimation

The article deals with the position of the Supreme Court of the Russian Federation, according to which the results of auctions more reliably reflect the market value than expert estimates. Starting from the fact that the reliability of expert assessment of market value is detached from comparison with objective reality, the author criticises the approach of the Supreme Court, proving that expert assessment is the only admissible evidence of market value, even in conditions of interval nature of assessments.