Is the Eiffel Tower Worth More Than the Statue of Liberty?Techniques for Determining the Value of Iconic National Landmarks-Part Ⅰ

摘要

This article is part 1 in a two-part series on the valuation of iconic national landmarks. It summarizes the appraisal profession's debate during the last fifty years as to whether historically or culturally significant structures and land areas have a special historic value or public interest value that is higher than their market value. It then presents a case study of the iconic Statue of Liberty and Eiffel Tower to explore alternative reproduction cost techniques and income approach elements that can be used to estimate the value of historic landmarks. Part 2 of this article will appear in a forthcoming issue of The Appraisal Journal; it will discuss techniques for estimating land value under the Statue of Liberty and the Eiffel Tower, and the economic impact tools for estimating the additional elements of public interest value generated by such symbolic icons.