Part of the new guidance requires the valuer to identify the ìcomponentsî of each property in connection with accounting for depreciation and to provide apportionments accordingly. The allocation of the value between land and property has been a requirement for many years. However, now, where there is more than one significant component part of the same asset which has the same useful life and depreciation method, such component parts may be grouped together in determining the depreciation charge. A previous conference paper (ARES 2011) looked at the method of Depreciated Replacement Cost (DRC) and the rules and regulations thereof. Most importantly, it considers the importance of DRC as a method of achieving Market Value. This paper develops that theme and considers the relationship of DRC in deriving Market Value and the degree of uncertainty pertaining to such a valuation.