The valuation is confronted with constant reassessment of the company value essence and new dilemmas regarding the methods of valuation. International valuation standards are related to consistent and transparent implementation of valuation tasks in order to harmonize standards between countries and promote their worldwide acceptance. Numerous open questions, polemics and concerns considered by International Valuation Standards Council, resulted in reissuing improved International Valuation Standards (IVS) to resolve problems in valuation practice and give more precise definition and coverage of individual bases of value. Bases of value in new version of IVS are processed in only one standard – IVS 104, which makes it easier to use the Standards and to decide on implementation of bases of value. IVS 104 is incomparably wider in coverage and more precise in determining of certain categories, and introduces completely new bases of value that did not exist in previous versions of IVS. IVS define the following bases of value: market value, market rent, equitable value, investment value, synergistic value, liquidation value (Defined bases of value), fair market value and fair value (Other bases of value). It is specially interesting and important to determine the definitions, implementation and the coverage of the most widely used bases of value in relation: market value market – fair value – fair market value.