The history of valuation in the American continent originated with the self-taught and empirical training of valuers, whose first example of organization occurred at the end of the XIX century in Lima, Perú, with the creation of the Cuerpo Técnico de Tasaciones del Perú – CTTP.


In Lima, Perú on December 13, 1949, valuers from Argentina, Brazil, Bolivia, Chile and Venezuela gathered to celebrate the 60th Anniversary of CTTP. They called it the first Panamerican Valuation Convention. They then created the Permanent Valuation Office to stimulate the creation of new appraisal associations and societies, originating the current Unión Panamericana de Asociaciones de Valuación, internationally known by the acronym "UPAV."


Years later, in June 1957, at the fourth Panamerican Valuation Convention, which took place in Chicago, the Permanent Valuation Office became the Unión Panamericana de Asociaciones de Valuación – UPAV. At this time, the existing organizations agreed that the countries present at the meeting in Lima in 1949 would be the Founding Members.