Latest Publications

ASA’s Chicago Chapter to Sponsor Upcoming Advanced Healthcare Valuation Course Session

A blockbuster faculty lineup has been assembled for the upcoming American Society of Appraisers Healthcare Special Interest Group (ASA HSIG) Advanced Healthcare Valuation Course Session, sponsored by the ASA Chicago Chapter.

This two-day, in-person event is a segment of ASA HSIG’s Multidisciplinary Advanced Education in Healthcare Valuation Program, and will be held on Friday, April 24, and Saturday, April 25, 2015, in Chicago, IL.

VENUE:
The venue for course session will be in Oakbrook Terrace, IL in the 1st floor conference room.

1st Floor Conference Room
1901 South Meyers Road – 1st Floor
Oakbrook Terrace, IL 60181

HOTEL:
The American Society of Appraisers has secured a block of rooms at the Courtyard Chicago Oakbrook Terrace at a rate of $109/night with a date of April 23-24, 2015. To reserve your room by phone, contact Courtyard Chicago at (630) 691-1500.

Courtyard Chicago Oakbrook Terrace
6 Transam Plaza Drive
Oakbrook Terrace, IL 60181

TRAVEL:
Attendees may fly into two main airports in Chicago; Chicago O’Hare International Airport (ORD) or Chicago Midway International Airport (MDW).

Chicago O’Hare International Airport (ORD)
10000 W O’Hare Ave
Chicago, IL 60666

Chicago Midway International Airport (MDW)
5700 South Cicero Ave
Chicago, IL 60638

Courtyard Chicago Oakbrook Terrace

1st Floor Conference Room in Oakbrook Terrace, IL

Chicago O’Hare Int’l Airport (ORD)

23 minutes driving time

15.2 miles

22 minutes driving time

18 miles

Chicago Midway Int’l Airport (MDW)

34 minutes driving time

21.8 miles

36 minutes driving time

22.4 miles

REGISTRATION:
Early registration pricing is available when you register before Friday, March 27, 2015.

Members

Non-Members

Early Registration
(Through 3/27/15)

$600

$800

Regular Registration (3/28/215 – 4/17/15)

$750

$950

To register or for more information on this event click here.

 

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Conference Preview: Houston 2015 Energy Valuation Conference

David S. Butler, ASA

David S. Butler, ASA, CPA

ASA’s Houston Chapter is set to offer their annual Energy Valuation Conference on Tuesday, April 28, 2015 in Houston, TX. To get in inside look at the popular event, we sat down recently with Conference Organizer David S. Butler, Jr., ASA, CPA.

Over the past several years, the Energy Valuation Conference has attracted a growing interest from valuation and energy industry professionals. Why is this the case?

I believe the Conference is meeting a demand in this market sector for advanced continuing professional education. The Conference’s robust line up of presentations on leading-edge topics from prominent experts have proved to be a popular draw to the many appraisers, accountants and other finance professionals who specialize in the energy industry, due to their continual need to stay on top of the latest issues and trends. Other reasons include: the offering of CE and CPE credit, networking opportunities, 1-day format, competitive pricing and convenient location at the iconic Federal Reserve Bank building.

For the third year in a row, you’re teaming up with the Houston CPA Society. Tell us more about this relationship.

Many of our appraisers are CPAs themselves, come from similar backgrounds or work closely with accountants. The same may be true for CPAs who specialize in business valuation. Working closely with the Houston CPA Society we are able to bring together these groups of professionals and foster a shared learning environment leveraging the various experiences and insights unique to each. As part of this relationship, we are offering a discounted Conference registration to members of both organizations along with ASA CE and NASBA approved CPE credits.

What are some new topics for this year’s Conference can you share with us?

We are really excited about this year’s line up of presentations including: the valuation of energy derivatives; mining processes & valuation issues; Mexican energy reform, cost of capital; capital markets update; risk-adjusting reserves; valuation considerations of offshore drillers; and current SEC developments. Professionals will not want to miss these!

Your Conference has generated a lot of interest from professionals, but also from organizational sponsors as well.

Correct. We are very proud of our sponsors and appreciative of the support they provide. This year we feature firms who specialize in global financial advisory; online oil & gas professional networking; and assurance, tax and consulting services. Our current list of sponsors includes: Stout | Risus | Ross—Premier; bvagroup—Lunch; HSSK—Breakfast; Oilpro—Media Partner; and McGladrey—Reception.

Where can interested professionals register or get more information about your Conference?

Registration is open until April 22, 2015 and available at:

ASA members and non-members: http://www.appraisersofhouston.org/home/energy_valuation_seminar

TSCPA members: https://www.houstoncpa.org/IMIS15/HoustonCPA/Conferences_and_Events/Energy_Valuation_Conference/HoustonCPA/Conferences_and_Events/Energy_Valuation_Conference.aspx?hkey=a5b8796e‐bc5f‐42f5‐8a6b‐d53847479466

 

For questions or more information professionals may visit http://appraisersofhouston-org.doodlekit.com/home/energy_valuation_seminar or contact myself at (713) 771-5011, x212 or dbutler@hsskgroup.com.

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AGTA Event Recap

(L-R) Theresa Brossmer, ASA, MGA; Mary B. Reich, ASA, MGA; and Marti Hubbard, ASA, MGA.

(L-R) Theresa Brossmer, ASA, MGA; Mary B. Reich, ASA, MGA; and Marti Hubbard, ASA, MGA.

The American Gem Trade Association (AGTA) hosted the annual AGTA GemFair February 3-8, 2015 in Tuscon, Arizona at the Tucson Convention Center. The six-day event included educational seminars and workshops with networking opportunities for gem and jewelry professionals from around the world.

Special attractions included an exhibit of extraordinary cultured and natural pearls from the Smithsonian Institution. Seminars covered topics such as pearls, appraisal essentials, maya jade, managing business and life, color trends and jewelry marketing, gemstones and much more. Educational lectures and hands-on labs were also available to attendees.

ASA-GJ sponsored a booth at the fair. The booth was organized by Marti Hubbard, ASA, MGA and supported by gems and jewelry members. Highlights included a visit to the booth by ASA CEO, Jim Hirt and ASA International President Gary Smith.

(L-R)Gary L. Smith, ASA, MGA; Mary B. Reich, ASA, MGA and Jim Hirt, CEO.

(L-R)Gary L. Smith, ASA, MGA; Mary B. Reich, ASA, MGA and Jim Hirt, CEO.

The recently recorded ASA-GJ recruitment video was debuted at the AGTA Gem Fair. The four-minute video featuring testimonials from current ASA-GJ members was displayed at the ASA booth and was posted to the Society’s YouTube Channel. You can view the video here.

 

 

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4th Annual Equipment Valuation Conference—Events Preview

ASA’s 4th Annual Equipment Valuation Conference will be held June 3-4, 2015 in Cleveland, OH. Sponsored by ASA’s Machinery and Technical Specialties Committee, this annual event has grown to become the definitive source for the latest insights into equipment valuation. From it’s informative educational sessions on current market conditions and trends from experts in the field to hands-on equipment inspections, combined with ASA & CPE continuing education credits, valuable networking opportunities and a variety of entertainment options in the beautiful city of Cleveland, the Conference has garnered attention from appraisers, equipment management professionals, remarketers and industry service providers who have recognized the ROI provided.

The Conference will also be offing the following events:

Pre-Conference 7-Hour USPAP Update Class (Separate registration required.)
Tues., June 2, 2015 | 8:00a.m.–5:30p.m. | Hyatt Regency Cleveland at the Arcade

David H. Cole, ASA

David H. Cole, ASA

Plan to arrive early! A one-day 7-Hour USPAP Update Class will be held prior to the Conference. The course has been designed for students who have already completed the 15-Hour USPAP course and only require the updated information. Students will learn about critical changes and revisions to USPAP, as it specifically relates to MTS appraisals. The course will be taught by David H. Cole, ASA. To register or for more information, visit ASA Online or call (800) 272-8258. Registration closes Tuesday, May 26, 2015.

Conference Welcome Reception (Included)
Tues., June 2, 2015 | 6:00p.m.–8:00p.m. | Location TBD

Kick off your Conference experience at the popular Welcome Reception. This informal meet-and-greet of attendees provides a low-key atmosphere for networking and getting to know your fellow attendees. Swap stories, share tips, ask questions, get business leads or exchange contact information, all while enjoying light snacks and drinks. Something you don’t want to miss! Visit ASA Online for more information.

Great Lakes Brewery Tour (Included)
Wed., June 3, 2015 | 1:00p.m.–5:00p.m. | Great Lakes Brewery Tour

Great Lakes Brewing Company_100x69See first hand, up-close the processes and equipment it takes to run a successful brewery. The Great Lakes Brewery Tour will take you behind the scenes around the brewery and show you the Brewhouse’s stainless steel brewing vessels; the Tank Farm’s fermentation tanks; the Bottling & Packing Line; the Cooler; and the Physical/Chemical and Microbiological Quality Assurance Labs. Come thirsty for insight into this interesting and amazing tour. Learn more online. Round trip transportation provided and included in Conference registration.

Brewhouse

Brewhouse

Tank Farm

Tank Farm

Bottling Line

Bottling Line

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Thank You to Our Sponsors—2015 ASA Personal Property Conference

 The American Society of Appraisers would like to thank and acknowledge the sponsors of the 2015 ASA Personal Property Conference to be held March 25-27, 2015 in New York, NY.

bonhams175x40Bonhams | Gold Sponsor
Bonhams is a privately owned British auction house and one of the world’s oldest and largest auctioneers of fine art and antiques. It was formed by the merger in November 2001 of Bonhams & Brooks and Phillips Son & Neale. This brought together two of the four surviving Georgian auction houses in London, Bonhams having been founded in 1793, and Phillips in 1796 by Harry Phillips, formerly a senior clerk to James Christie. Today, the amalgamated business handles art and antiques auctions. It operates two salerooms in London—the recently renovated, state-of-the-art salerooms at the former Phillips address 101 New Bond Street, and the old Bonham’s sale room at the Montpelier Galleries in Montpelier Street, Knightsbridge—with smaller regional sale rooms in Edinburgh and Oxford. Sales are also held around the world in New York, Hong Kong, Los Angeles, Paris, San Francisco, Sydney, and Singapore.
Visit www.bonhams.com.

Heritage_175x33Heritage Auctions | Silver Sponsor
Heritage Auctions is the world’s #1 auction house online, based on traffic, reach and total sales, according to Forbes magazine and Compete.com. It is also the largest auction house founded in the United States, as well as the world’s leading collectibles auctioneer. Heritage is a privately owned company, with headquarters in Dallas, Texas and offices in New York City, Beverly Hills, San Francisco, and Houston, and locations in Germany, Switzerland, Holland, and France. They combine both proxy and live Internet bidding with traditional floor auctions. Their 918,000 bidders purchased over $961,000 million in 2014. Heritage members are able to source their 3.5MM lot database of sold items in 39 specialty categories free of charge, and each lot also contains third-party pricing and rarity data.
Visit www.ha.com.

artnet_com_smallartnet | Media Sponsor
artnet is an online service provider for the international art market with headquarters in New York and Berlin. artnet has become the leading site for buying, selling, and researching Fine Art, Design, and Decorative objects online. A public company, artnet offers services aimed at providing price transparency for its users, and enabling them to contact galleries directly through the Gallery Network. The Price Database Fine Art and Design and the Price Database Decorative Art contain more than 9 million auction results dating back to 1985, from over 1,600 international auction houses. artnet Auctions & Private Sales is the world’s leading online platform for buying and selling Modern and Contemporary paintings, photographs, sculptures, prints, and more. In addition to its core products, in February 2014, the company launched artnet News, a 24/7 newswire, which provides readers access to the events, trends, developments, and people that shape the art market today.
Visit www.artnet.com.

LOGO

Alvarez Fine Art Services, Inc. | Reception Sponsor
Alvarez Fine Art Services has been a trusted resource in the field of paper conservation for over 30 years. They specialize in the conservation treatment of a wide range of art on paper: drawings, watercolors, pastels, gouaches, oils, books, documents, manuscripts, and all types of prints. The company treats conditions found in works on paper such as stains and foxing, removal from harmful backings like wood and acidic boards, repairs to tears and the placement of inserts to fill losses, crease removal and flattening, selective in-painting, deacidification, tissue lining, and other archival mounting. The strength of the studio lies in their judicious handling of difficult conservation problems while preserving the integrity of each work of art.
Visit www.alvarezfas.com.

strand-logo-books-loved-pantone-large-printStrand Bookstore | Friend Sponsor
Founded in 1927, Strand Book Store is New York City’s legendary home to 18 miles of new, used, and rare books. A family-owned independent bookstore located in New York City’s Greenwich Village, Strand’s inventory holds about 2.5 million books and boasts New York City’s largest selection of art, architecture, and design books. Strand ships books and merchandise globally and shipping can be arranged by speaking with a manager on site. Visit us at 12th Street and Broadway or online at www.strandbooks.com.

stevens_175x70Stevens Company | Friend Sponsor
For more than 20 years Stevens Company has provided fine art transit, storage, packing/crating and installation services. Stevens Company understands how important the quality of packing/crating, storing, transporting or installing is for the ultimate security of client’s fine objects. Their meticulous attention to detail that their highly-skilled craftsmen pay to each item guarantees an individually tailored solution to ensure the perfect safety of client valuables.
Visit www.stevenscompany.us.

Urban-Archaeology_250x40Urban Archaeology | Friend Sponsor
In the 1970s Gil Shapiro was at the forefront of the nascent scavenging movement. A guerrilla preservationist with a collector’s eye and entrepreneurial spirit, Shapiro capitalized on the emerging home restoration movement and repurposing of architectural remnants for newly designed residences and commercial spaces.  In 1978 Urban Archaeology opened in SoHo, selling restored pieces. Joined by Judith Stockman, a recognized interior designer and integral member of the firm, Urban Archaeology, the recipient of numerous awards, was at the forefront of many restoration and developer commissions using salvaged and custom fabrications. As time progressed, business and demand quickly outweighed supply and Urban Archaeology’s focus shifted to fabricating products based on salvaged pieces that met modern and personal specifications. Urban Archaeology, expanded into a six story building in TriBeCa, which houses the company’s workshops, and also operates a number of showrooms in the New York design district, a shop in Bridgehampton, and a showroom in Chicago.
Visit www.urbanarchaeology.com.

sappi-logo-PMS-2935_175x45sappi | Friend Sponsor
Sappi North America, known for innovation and quality, is a preeminent North American producer of coated fine papers headquartered in Boston, Massachusetts. Its coated fine papers, with highly recognized brand names such as McCoy, Opus, Somerset and Flo, are used in premium magazines, catalogs, books and high-end print advertising. Sappi North America is a subsidiary of Sappi Limited (JSE), a global company headquartered in Johannesburg, South Africa, with over 14,000 employees and manufacturing operations on three continents in seven countries and customers in over 100 countries around the world.
Visit: www.sappi.com/na.

RICS_175x68RICS | Friend Sponsor
The Royal Institution of Chartered Surveyors (RICS) promotes and enforces the highest professional qualifications and standards in the development and management of real estate, property and construction professionals at an international level. Our name promises the consistent delivery of standards – bringing confidence to the markets we serve. RICS member’s expertise covers property valuation; the costing and leadership of construction projects; and facilities management. With offices covering the major political and financial centers of the world, RICS market presence means they are ideally placed to influence policy and embed standards globally.
Visit www.rics.org.

WebArtCare | Friend Sponsor
ArtCareNYC and ArtCare Miami, Rustin Levenson companies, are committed to the care and conservation of cultural heritage, specifically paintings. Their experienced conservators – trained at prestigious graduate conservation programs in North America and Europe – approach each painting with respect to its physical, esthetic and conceptual uniqueness. Conservation treatments are custom-designed based on careful testing and examination. They have expertise in paintings ranging from the 14th to the 21st centuries as well as mural paintings in public and private settings.  Their array of art historical knowledge includes European Old Masters, American, Latin American, South Asian, and Contemporary paintings. For more than 35 years, they have provided painting conservation services to a broad range of private and public clients who appreciate their integrity and individual touch.
Visit www.artcarenyc.com.

AndersonKill_175x37Anderson Kill | Friend Sponsor
Anderson Kill practices law in the areas of Insurance Recovery, Commercial Litigation, Environmental Law, Estate, Trusts and Tax Services, Corporate and Securities, Antitrust, Banking and Lending, Bankruptcy and Restructuring, Real Estate and Construction, Foreign Investment Recovery, Public Law, Government Affairs, Employment and Labor Law, Captive Insurance, Intellectual Property, Corporate Tax, Hospitality and Health Reform. Recognized nationwide by Chambers USA for Client Service and Commercial Awareness, and best-known for its work in insurance recovery, the firm represents policyholders only in insurance coverage disputes – with no ties to insurance companies and has no conflicts of interest. Clients include Fortune 1000 companies, small and medium-sized businesses, governmental entities, and nonprofits as well as personal estates. Based in New York City, the firm also has offices in Ventura, CA, Philadelphia, PA, Stamford, CT, Washington, DC, Newark, NJ and Dallas, TX.
Visit www.andersonkill.com.

p8_logo_v2_175x52Paddle8 | Friend Sponsor
Paddle8 is the premiere collecting destination, presenting online auctions of and consignment opportunities for extraordinary art, design, jewelry, watches, and other contemporary collectibles. Using innovative technology, Paddle8 has streamlined the collecting experience, combining the excitement and expertise of an auction house with efficient operational solutions and an international perspective. Founded in 2011 by Alexander Gilkes, an auctioneer and LVMH veteran, and Aditya Julka, a Harvard Business School MBA and serial entrepreneur, Paddle8 has a team of over 100 art and technology experts worldwide, with offices New York, L.A., and London. Paddle8 is funded by the investors behind Uber, Vimeo, Buzzfeed, Paperless Post, Warby Parker, and Bonobos, among others, as well as art-world insiders including artist Damien Hirst, art dealer Jay Jopling, and Matthew Mellon.
Visit www.paddle8.com.

NYSID_175x100New York School of Interior Design | University Partner
NYSID is an American Society of Appraisers University Partner who offers the Society’s Principles of Valuation courses. Upcoming classes include: PP/GJ201 – Introduction to Personal Property Valuation to be held March 19-22, 2015 and PP202 – Development of a Personal Property Appraisal: Research and Analysis to be held April 16-19, 2015.
Visit https://www.nysid.edu/icps/appraisal.

PurchaseCollegeSUNY_200x72Purchase College, State University of New York | University Partner
Founded by Governor Nelson Rockefeller in 1967 as the cultural gem of the State University of New York system, Purchase College enjoys a world-class reputation for its arts programs and boasts the 10th largest university museum in the country, The Neuberger Museum of Art. An American Society of Appraisers University Partner, Purchase College offers the Society’s Principles of Valuation courses in an accelerated format over 16 days during the summer and an appraisal studies certificate program.
Visit https://www.purchase.edu/summerappraisal.

NYC_Logo_175x88ASA New York City Chapter | Local Partner
The American Society of Appraisers New York City Chapter was founded in 1961 and currently services nearly 200 multidiscipline members.
Visit www.asany.com.

Princeton_Logo_175x88ASA Princeton Chapter | Local Partner
The American Society of Appraisers Princeton Chapter was founded in 1986 and currently services over 50 multidiscipline members.
Visit www.asaprinceton.com.

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JaSIA Prepares for 2015 ICVPME

Mt. Fuji event flyer for ICVPME.

Mt. Fuji event flyer for ICVPME.

The International Conference on the Valuation of Plant, Machinery and Equipment (ICVPME) will be held on October 26-28, 2015 in Tokyo, Japan at the National Center of Sciences. The Japanese Society of Independent Appraisers (JaSIA), jointly with Japan’s top academic Kyoto University, will be hosting this conference along with ASA, RICS, China Appraisal Society and Australian Property Institute. IVS, International Ethics Coalition, Levin Group, PWC, Colliers International, Lobo Global Advisors, American Appraisal, Laskay & Associates, Paul Osaji & Co., PWC, Pacific Gem Lab, Deloitte, E&Y are among the few organizations offering speakers for this event. A few of the topics to be discussed at this conference are, the global banking industry, cost of capital, professional standards, jade and pearl manufacturing, model integrity, price versus value, and appraisal judgment.

The Mt. Fuji event flyer can be viewed here and the conference website can be found here. Watch for future announcements about the 2015 conference program details and presenters.

 

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ASA Marketing Campaign in Japan

Brochure for Japanese clients.

Brochure for Japanese clients.

The Japanese Society of Independent Appraisers (JaSIA), ASA’s partner in Japan, has recently launched a special campaign to promote ASA’s brand in Japan by producing Japanese versions of ASA brochures. It represents JaSIA’s strategic initiative to promote ASA’s name more aggressively in Japan in response to its increasing AM/ASA designations since last year. The idea of producing such brochures to promote their activities is well received by JaSIA’s ASA members. They have been distributing over 10,000 copies to their clients and potential ASA members all over Japan.

for members2_200x150jpg

Brochure for ASA members in Japan.

Save the Date!
The International Conference on the Valuation of Plant, Machinery and Equipment (ICVPME) will be held on October 26-28, 2015 in Tokyo, Japan. For further information please visit, http://www.icvpme.com/.

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Cuban Art Expert Member Profile

blog_Alex_Rosenberg_COLORnew

Dr. Alex Rosenberg, ASA

Dr. Alex J. Rosenberg, ASA is the owner of Alex Rosenberg Fine Art in New York, which offers a selection of fine paintings, sculptures, drawings, photography, prints and multiples by internationally important artists. He is also the Principal of Alex Rosenberg & Associates, a fine art appraisal firm dedicated to the appraisal of all types of fine and decorative art and other personal property. Dr. Rosenberg is an accredited senior appraiser (ASA) of Personal Property at ASA, and has been a member since 1986 and has been involved in the New York Chapter of ASA. He is a former member of the Personal Property Committee and Board of Examiners at ASA. He has been the chairman of the Salvador Dali Research Center since 2006. In July 2014, Rosenberg brought to the National Museum of Fine Arts in Havana a selection of works by Salvador Dali (1904-1989), an exhibition titled “Memories of Surrealism.” This exhibition can now be seen at the National Arts Club in New York from February 2 – 28. Dr. Rosenberg is a visiting professor of Fine Art at the Instituto Superior de Arte (ISA) in Havana, Cuba and was an Adjunct Professor of Appraising at New York University. In 2011 he wrote a book called, “An Approach to Advanced Problems in Appraising Art, with a Special Focus on Cuba,” that was tailored to the specific needs of the appraisal profession in Cuba, which he helped to create. Dr. Rosenberg is a longtime supporter and a member of the honorary committee of the American Friends of the Ludwig Foundation of Cuba, a U.S. based nonprofit focused on building cultural bridges between the United States and Cuba.

Swans Reflecting Elephants (1937) is a painting by the Spanish surrealist Salvador Dalí

Swans Reflecting Elephants (1937) is a painting by the Spanish surrealist Salvador Dalí

Recently in the news, President Obama has announced plans to normalize diplomatic relations with Cuba and ease economic restrictions on the nation. The U.S. is looking to reopen its embassy in Cuba and will allow some travel and trade between the two countries, something that has been banned since the Kennedy administration.

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Heckerling 2015

ASA’s booth at Heckerling manned by ASA volunteers and Megan Seid, Accreditation and Reaccreditation Services Specialist from ASA Headquarters.

ASA’s booth at Heckerling manned by ASA volunteers and Megan Seid, Accreditation and Reaccreditation Services Specialist from ASA Headquarters.

ASA volunteer members and staff worked together again this year to promote ASA at the 49th Annual Heckerling Institute on Estate Planning January 12-16, 2015 in Orlando, Florida.

This year’s Heckerling Institute had over 3,000 attendees; most of whom were estate planners, attorneys, trust officers, accountants, insurance advisors and wealth management professionals. The focus was on providing guidance on tax and non-tax issues involved with individual and estate planning. There were general session lectures, afternoon panels and over 150 vendors (including ASA) offering products and services on estate planning. Charitable giving, financial assets, litigation and tax controversies and fundamentals of income taxation of estate planners were just a few of the many topics discussed during general session lectures and afternoon panels. Pulitzer Prize winning journalist David Cay Johnston was this year’s Lloyd Leva Plaine Distinguished Lecturer who discussed his ideas for an effective rewrite of the estate and gift tax.

The exhibit hall at Heckerling, featuring over 150 vendors displaying their products and services for the estate planning industry.

The exhibit hall at Heckerling, featuring over 150 vendors displaying their products and services for the estate planning industry.

 

ASA exhibited at Heckerling and represenattives spoke to attendees about hiring an ASA accredited appraiser. Robert H. Buchanan, ASA; Juanita E. Addeo G.G., ASA; Morgan W. Eldridge, ASA; Curtis R. Kimball, ASA; John A. Cento, ASA; Timothy K. Bronza, ASA; Paul Dumm, Jay Reardon, ASA and Bryan M. Fleming, ASA were on hand to volunteer at the booth along with Megan Seid, Accreditation and Reaccreditation Services Specialist from ASA Headquarters.

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ME208 in Moscow

IMG_0252NEW

Evolution Tower, a building a block away from KPMG.

ASA’s Marine Asset Appraisal Class, ME208 was taught on January 19-21, 2015 in Moscow, Russia. Thirteen students at the KPMG training center facilities attended. The students were all KPMG in house appraisers, almost all with engineering degrees. The KPMG offices are in the new Moscow business area surrounded by high-rise office buildings with stunning architecture.

Topics discussed over the three days included marine asset appraisal methodology, basics of marine terminology, the field inspection process, and three approaches to value in the marine industry and appraisal problems. The course covered both commercial vessels and yachts. As there is a very small yacht presence in the Russian Federation, and KPMG’s interest is mainly in businesses and plant and machinery; extra time was spent on commercial vessels. While the Moskva River was outside the class window it is not in commercial use and a field trip could not be arranged. An extensive photograph slide show allowed the class to see various types of vessels in use all over the world and the commonalities and differences in design and utility was noted as very important when doing the Cost and the Comparable Sales approaches.

Attendees of the course with instructor Norman Laskay, ASA.

Attendees of the course with instructor Norman Laskay, ASA.

ME208 was developed and instructed by Norman F. Laskay, ASA. And the course is held annually in locations around the nation including port cities of Baltimore, Long Beach, New Orleans and San Francisco, and internationally in Melbourne, Australia and now in Moscow, Russia; and often includes a tour of a local vessel for an up-close identification of marine machinery and equipment. View a video sneak peek of the course in action.

Norman F. Laskay, ASA

Norman F. Laskay, ASA

In addition to being the course instructor, Mr. Laskay, a designated member of the Society for more than 25 years, is a veteran marine appraiser/surveyor and of council for Metairie, LA based Dufour, Laskay & Strouse, Inc. and a frequent presenter at industry conferences, including the upcoming 9th International Conference on the Valuation of Plant, Machinery and Equipment to be held October 26-28, 2015 in Toyko, Japan, where he will be speaking on the factors in choosing replacement cost or comparable sales in valuing marine assets.

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