Valuing property in an estate: valuing items of property separately
The case of Buccleuch v IRC  1 AC 506 gives us the authority for estates to be divided into natural or appropriate units for valuation purposes. This is known as ‘advantageous lotting’ as it may produce a higher value than if the whole estate was valued together.
If you ask the VOA (IHTM23002) to consider the value returned for land or buildings they will normally divide the estate up in a way that will provide the highest value. Collections of art, vintage motor cars or wine are examples of other assets that will normally need to split up for valuation purposes. Heritage will decide how to split up collections of art or motor cars for valuation purposes. SAV will make a similar decision when valuing wine collections.