Automated Valuation Models: an Appraisal

In May 2011, VesselsValue.com launched an online subscription service which provides an instant valuation of Tankers over 29,500 dwt and Bulkers over 20,000 dwt. At its heart is an Automated Valuation Model (AVM). AVMs have been around for some time. They have been used to value domestic property for over twenty years. Similarly, there are many websites that will give you the value of your second hand car. More recently, some aircraft valuations have become automated. But this is a new development in shipping. So what exactly is an AVM? How does it compete with traditional methods for valuing ships? What can be learnt from AVMs in other fields?

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