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Spotlight – ARM Designation Program

There are a few important questions all appraisers should consider.Gavel_01

  • Are you current with the appraisal requirements?
  • Are your appraisal reports and appraisal reviews a potential source for litigation?
  • Are you aware of the potential liabilities the appraiser exposes his/herself to in doing an appraisal or appraisal review
  • When asked to opine on another appraiser’s work product, are you not clear about how to organize or articulate your findings or are you concerned about avoiding issues related to defamation of character?
  • When your appraisal work relies upon another appraiser’s work product what liabilities are you accepting?
  • Are you aware of the increased litigation regarding appraisal work and do you ever worry that your appraisal reports might not stand up to the standards that appraisal reports are measured against or that you might be sued for negligence or gross negligence?
  • Are you ready to expand your business and better protect your reputation?
  • Are you up to speed on USPAP Review Standard requirements for proper way to review an appraisal?
  • Could your own work product be improved by spending time analyzing the work product of others?

If you answered yes to at least one of these questions then ASA’s Appraisal Review and Management Overview course is a must to enhance your professional career and protect your professional reputation.

This course is centered on providing an in depth understanding of the appraisal standards that govern the practice of appraisal, this course will compare, contrast and interpret real property, personal property and business valuation standards including USPAP, IVS Standards, RICS, AICPA, IBA, AI, ASA, AMEA, ISA, AAA, IFA and other appraisal association’s standards. It also covers narrative appraisal report writing as an argument, the review paradigm and provides a hands-on review of approximately thirty (30) actual reports. The course is a mix of class lecture, discussion and practices appraisal review by using actual redacted appraisals for all disciplines.

Take a tip from Paul Golubovs, MBA, ASA. Paul, (whose ASA accreditations include four specialty designations in Personal Property, as well as accreditation in Appraisal Review and Management), credits ARM training with taking him “to the next level of professionalism” in his work, stating that he gained “a heightened awareness of the numerous types of errors which result in inaccurate analysis and invalid conclusions of value.”

Due to increased litigation over appraisal reports and appraisal reviews appraisal review is a growing concern in the appraisal industry. New legislation as well as the pressure from the regulators has created a large demand qualified appraisal reviewers with credentials and continues to grow. This is creating a need for qualified credentialed reviewers opening up a new or expanded field for individuals to fill. Don’t be left behind, seize the opportunity and become a credentialed reviewer with the skills required by taking the ARM Courses. Appraisal reviews are in demand for legal cases of all kinds, collateral loans, business deals, insurance settlements and marital dissolution. Reviewers are needed in every appraisal specialty, from the variety of personal property valuations to business valuation, real estate and machinery and equipment.

Appraisal review raises the bar on appraisal reports by providing professional, expert review of the appraiser’s qualifications, how well the report aligns with standards of appraisal practice, and whether or not the appraisal report itself makes logical sense to a trained professional. Without this training, even an ASA could be producing appraisal reports that would not pass a qualified appraisal review process. Arm yourself! Knowing what to look for and how to conduct effective appraisal reviews improves your own valuation and reporting skills, increasing your reputation and expertise.

As an Accredited Senior Appraiser, you can take Appraisal Review and Management to earn your ARM designation in your own discipline. These classes have been completely revised and are now taught using a dialogue education format, avoiding the usual slide/lecture system. Past students have declared the class a big hit, they have enjoyed the class interaction and project-based instruction more than the usual lecture mode and felt they had a better grasp of the material covered. To learn more about Appraisal Review and Management, visit the discipline’s website here.

Jack Young, ASA, instructor for NorCal's ARM201 class.

Jack Young, ASA, instructor for NorCal’s ARM201 May 19-22, 2016 class.

The NorCal Chapter of ASA is hosting Appraisal Review & Management on May 19-22, 2016 in Oakland, CA. Instructor for the NorCal ARM class is Jack Young, ASA. Jack Young is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers specializing in Machinery and Equipment Appraisals (MTS) and Appraisal Review and Management (ARM). He is also a Certified Public Accountant. Jack reviewed hundreds of appraisals while auditing banks and other financial institutions at KPMG. Subsequent to KPMG, Jack was a financial analyst in the insurance and international micro-finance industries. Jack is an active member of the Northern California Chapter of the ASA, where he serves as Chapter Past President. Previous to accreditation he worked for many years as an auctioneer and auction manager of business assets and equipment. Jack received his B.S. Accountancy, Arizona State University. To register for this NorCal class or for more information click here.

Written by Jack Young, ASA.

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Sneak Peek – ASA/USC 11th Annual Fair Value Conference – Los Angeles

FVC_USCThe American Society of Appraisers’ and University of Southern California Leventhal School of Accounting are hosting their 11th Annual Fair Value Conference – Los Angeles on Wednesday, June 8, 2016 at the Radisson Hotel at USC. This conference will be of significant interest to financial executives and accountants and will provide important updates on a range of fair value matters impacting financial reporting. The Fair Value Conference is focused on the needs of valuation and accounting professionals involved in the development and audit of fair value estimates. Insights can be immediately employed in your technical or business management of your professional practice.

This year’s conference location, Radisson Hotel Los Angeles Midtown at USC, is adjacent to USC’s 226-acre main campus.

This year’s conference location, Radisson Hotel Los Angeles Midtown at USC, is adjacent to USC’s 226-acre main campus.

Internationally recognized representatives of the SEC, FASB, PCAOB and senior accounting and valuation professionals from the Big 4 and other leading accounting firms will be attending this years’ conference. To view a list of past attendees, click here. Presentation topics include FASB Update on Fair Value Matters, SEC Update, Valuation Profession Initiative Update, Volatility Estimation and Measurement, PCAOB Update, Credit Value Adjustments and other Fair Value Topics.

Why should you attend? The 11th Annual Fair Value Conference – Los Angeles can offer attendees practitioner focused, timely updates on topics of current interest by nationally recognized speakers, exceptional networking opportunities with valuation practitioners from leading accounting firms and top boutique valuation firms and ASA and AICPA continuing professional education credits in a cost effective way. ASA and USC continue to price this conference at a low cost as a benefit to its membership and community at large.Logo_ASAUSCLeventhal_200x50

Sponsors of this conference include local sponsor Globalview Advisors and media sponsor, BV Review. Early bird registration ends May 6, 2016. To register or to learn more, visit ASA Online or call (800) 272-8258.

 

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ASA’s ME203 & ME204 Wrap Up: Nigeria

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Leslie H. Miles, Jr. FASA; Paul Osaji and students.

The American Society of Appraisers (ASA) recently conducted an onsite training course in Nigeria for Paul Osaji & Co. Estate Surveyors and Valuers. The Society’s ME203 – Advanced Topics and Case Studies and ME204 – Machinery & Equipment Valuation – Advanced Topics and Report Writing were presented to almost 20 students from March 1-11, 2016, with instruction provided by Leslie H. Miles, Jr. FASA, FAPI. The attendees consisted of various appraisers from the local area of the capital city of Lagos.

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Instructor Leslie H. Miles, Jr. FASA teaching the class.

Advanced Topics and Case Studies focused on introducing advanced concepts and techniques than those taught in ME201 and ME202. The course explored exponential pricing techniques, cost estimation, reproduction vs. replacement costs, quantifying functional obsolescence, use of research data, time value of money calculations and more. Machinery & Equipment Valuation – Advanced Topics and Report Writing was merely an extension of the advanced areas with an introduction of such things as leasing, inutility and fair rental value as well as carrying the income approach to a little higher level as we do more on the discount rate development. The students, a good majority of them experienced appraisers, were extremely happy and impressed with the more advanced information and the way it was presented. The course material, as expected, had new and very important additional information and training that students had not been exposed to in their previous work.  The order and content of these courses is well set out and is much of the reason ASA education is in demand.

It is through Paul Osaji’s underwriting and coordinating that ASA has come to Africa with these “in demand” special offering POV courses. In closing I must acknowledge those people that did the same thing (in Australia, Japan); expanding ASA’s footprint in places we were not so well recognized in the past. Thank you to all for that “value added” benefit to this discipline and the overall valuation profession!” stated Leslie H. Miles, Jr. FASA, FAPI.

The Society’s Onsite Course Program is a popular option for organizations in need of training large groups or entire departments of staff. These special, client-centric courses provide educational experiences that can be customized to meet an organization’s individual needs. The courses provide a convenient and cost effective means of helping employees with professional development opportunities and to achieve a designation with ASA.

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Farewell to a Pioneer: Remembering Elizabeth “Betty” Blagbrough – ASA’s First Woman International President

ASA’s lost a great leader, mentor and friend on March 26, 2016. Elizabeth “Betty” Blagbrough, FASA was the Society’s first woman president in 1988.

A clipping of the St. Louis Post from August 16, 1977, announcing Elizabeth Blagbrough as ASA’s first woman president of the St. Louis chapter.

A clipping of the St. Louis Post from August 16, 1977, announcing Elizabeth Blagbrough as ASA’s first woman president of the St. Louis chapter.

Ms. Blagbrough was involved in ASA for over 40 years where she held multiple leadership positions, most notably on the Personal Property Discipline Committee, Educational Foundation Committee and the Ethics Committee. Betty was also very active in the St. Louis Chapter of ASA and was the first woman president of the Chapter. Betty forged the path for other woman to become involved in ASA at the national level and was a strong advocate for the Personal Property discipline and its growth.

Edith Yeomans, FASA, chair of the Society’s Personal Property Discipline Committee in a fitting tribute said it best, saying “Betty was one of our great leaders. She was the first woman international president of the ASA and forged the path for other women to become active in the Society at the national level. For many of us, she was a mentor, friend and someone who was not afraid to pull our chain when we veered off path! Her efforts made it possible for us to do what we do today. We honour her memory by carrying on and doing the best that we can.”

“Betty was a friend and mentor. We shared many related professional experiences and history for more than 30 years. She had a great sense of humor and spoke from her head and heart. Betty lived out her life as she wished, did not complain and focused on the positive. She loved her family and was so happy to have them and her friends with her. She was a vital and special person,” stated Fran Zeman, FASA.

View Betty Blagbrough’s obituary here.

Condolences may be sent in care of the following link here.

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Sneak Peek – 2016 ASA International Appraisal Conference

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Get ready for ASA’s 79th International Appraisal Conference! Valuation professionals from around the world will gather on September 11-14, 2016 in Boca Raton, Florida. As a multidisciplinary society, attendees will have the opportunity to interact and network with all disciplines ranging from Business Valuation, Gems & Jewelry, Personal Property, pic1Appraisal Review & Management, Machinery & Technical Specialties, and Real Property. Join us for four days of dynamic workshops and obverse memorable keynote speakers addressing issues that are affecting the appraisal world.

Many highly applauded and demanding offerings from last year’s conference will be offered this year in Boca Raton. The Keynote Address will be delivered by Bernard Baumohl discussing The Secrets of Economic Indicators. Over 40 educational sessions will be taught by the world’s preeminent thought-leaders from all appraisal disciplines. With over 800 attendees, “the opportunities to network with colleagues is endless- especially the women’s networking reception – superb idea!” stated a past conference attendee. The conference will hold the Women’s Networking Reception on Tuesday, September 13, for those who want an opportunity to meet and Photoshop 3network with prominent woman across all the ASA’s appraisal disciplines. Another highlight of IAC are the special offsite tours. Last year’s Ritchie Bros onsite tour was called, “by far the most informative and relative to our day to day work.” Special off site tours will be arranged for MTS and PP attendees. Last year’s ASA Educational Foundation Auction was a huge success due to the wide variety and abundance of items being donated such as jewelry, fine wine, books, classes, and even liquor. This year we anticipate the auction to be bigger and even better.

The conference location is being held at Boca Raton Resort & Club, a historic 1926 property designed by legendary architect Addison Mizner. Enjoy the Cloister/Tower Rooms where historical ambiance blends seamlessly with modern comforts or enjoy the peace and tranquility of the Bungalow Rooms, located 15 minutes from the main resort. Special offers are being given to ASA attendees which include:

    • Wireless internet in guestrooms and public space
    •  Health Club specialty classes including
    • Local, 800, & Domestic Long Distance Phone Calls
    • Beach Umbrellas at the Boca Beach Club
    • Unlimited Driving Range Usage and Golf Club Storage

Don’t miss this year’s conference and find out why everyone agrees that, “the educational sessions and networking with other valuation professionals always makes ASA conferences worthwhile!”

Super early bird registration for the 2016 International Valuation Conference ends July 22, 2016.

For more information or to register, visit ASA Online or call (800) 272-8258.

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Sneak Peek – 2016 Advanced Business Valuation Conference

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ASA’s Advanced Business Valuation Conference is set to take place on September 11-14, 2016 at the Boca Raton Resort & Club in Boca Raton, Florida. Gain access to comprehensive educational programing in business valuation, fair value, and litigation support. These Speaker Photoprograms are taught by preeminent BV leaders who specialize in areas such as:

  • Valuation Credentials
  • Government Contractors
  • Investment Banking
  • Value Allocations
  • And much more!

ASA is offering three educational tracks that attendees and pick and choose from, which include the Business Valuation Track, Fair Value Track and Cost of Capital Track. Live web streaming will also be available for those who are unable to attend the conference.

Co-located with ASA 2016 International Appraisers Conference, a specialized offering for valuers from all disciplines, this joint event will feature a combined 800+ attendees. Several elements from last year’s conference, will be incorporated into this year’s BV conference. A similar app will be available for download to help attendees gain access to information from the palm of their hands. Attendees raved about the app stating, “The app was amazing!” and found it very useful during the 3 day conference. Educational sessions will be taught by experts in the field to help attendees gain insight on important topics that affect the appraisal world. All attendees agreed that, “the variation of educational content was very good and a lot was covered in three days.” ASA events are always held in well serviced locations to maximize the enjoyment and experience of the conference. Past conference attendees continually find the facilities exceptional. One of the best parts of the conference are the many networking opportunities given to attendees in order to expand their global professional network. This year both the President’s Networking Reception and the Women’s Networking Reception will be special events open t2015_BV_attendees_niche_track 2o attendees. Both events offer fellow attendees an evening of opportunity to meet and network with prominent exhibitors and attendees from all across ASA’s appraisal disciplines. ASA will also be offering a live simulcast from the ASA 2016 Advanced Business Valuation Conference.

The conference location, Boca Raton Resort & Club, has become an icon of elegance for more than 80 years designed by legendary architect Addison Mizner. Today, the resort remains faithful to its glamorous past, while radiating a vibrant energy, offering infinite amenities to every type of guest. Situated on 356-acres in fabled South Florida, this eclectic, private village offers the best of all worlds: an award-winning spa, championship golf and tennis, expansive beach and luxury marina – all just steps from your door.

Don’t miss this year’s conference and witness why people always “have a great experience” and are “looking forward to Florida!”

Super early bird registration for the 2016 Advanced Business Valuation Conference ends May 13, 2016.

For more information or to register, visit ASA Online or call (800) 272-8258.

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Recap – 2016 ASA Personal Property Annual Connoisseurship Conference

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ASA’s 2016 Personal Property Annual Connoisseurship Conference: The Sacred and the Profane took place March 10-12, 2016 at the Fairmont Hotel in Vancouver, British Columbia, Canada. This conference promised to be an exceptional conference discussing and examining how appraisers deal with objects both sacred and profane—Bibles, Torahs, icons, erotica, crime material, politically controversial art—and the rules, ethics and protocols surrounding ritual artifacts. Participants explored the impact of these images spanning time immemorial to the contemporary art scene and present collector markets.

One of the panel discussions. Session title "The Profane- Discussion on the Contemporary Art and Collector Car Market"

One of the panel discussions. Session title “The Profane- Discussion on the Contemporary Art and Collector Car Market”

The 14 presentations of panel discussions, keynote addresses, and special event tours proved to be an exceptional conference for attendees. Topics of discussion included, but were not limited to, indigenous materials, contemporary art market, Chinese fine and decorative art, tax policies, sacred and profane objects. All presentations proved to be educational and informative for attendees.

Special events included a welcome reception at the Bill Reid Gallery where attendees could reconnected with their colleagues over specially selected Canadian wines and appetizers. Attendees gathered at the University of British Columbia Museum Of Anthropology for a private, after-hours tour of the museum’s collection. Attendee Darcy Tell said of the tour, “The Northwestern art at the Museum of Anthropology was a revelation.” The Vancouver Art Gallery offered a private, docent- led guided tour of its current exhibition MashUp: The Birth of Modern Culture. The conference concluded on Saturday with a special performance by Spakwus Slolem, translated as the “Eagle Song Dancers.” The Eagle Song Dancers are members of the ancient Squamish Nation, which has lived in the lower mainland of British Columbia for over 10,000 years. Their songs feature the beautifully carved masks that honor the spiritual powers of the animal kingdom. Ezra Tishman, an ASA candidate, said of the

The conference's Sacred Closing Ceremonies with a performance by Spakwus Slolem.

The conference’s Sacred Closing Ceremonies with a performance by Spakwus Slolem.

performance, “I spent years living and working up in Alaska and have seen a number of Native American/First Nation ceremonies, but something about this particular one, accompanied by the brief but deeply respectful stories, and the connecting with the appraisal cohort in the audience, moved me in a manner not easily described as well as those around me. The entire conference was of a piece — and beautifully explored issues of sacred vs. sacrilege, culture, birthright and (re)patriation, authentic vs. “artifake”, and the often diaphanous if sometimes only cultural or syntactic boundaries between.”

 

To view photos from the conference click here.

What Attendees Had to Say about ASA’s 2016 Personal Property Conference
“About 20 years ago, I took a cross country road trip with my mother. One afternoon, she and I found ourselves in Arizona, standing at the rim of the Grand Canyon, and, uncharacteristically, she was silent, for the longest time, after which she turned to me and said, simply: “I prefer to reserve the word ‘Awesome’, for things like this’.” And to this day, this set the tone for me as to what was, and was not ‘awesome’.

The 2016 ASA Personal Property Annual Connoisseurship Conference is proving, in all aspects, to truly meet my mother’s standards for awesomeness. The city is lovely, the venue gracious and welcoming, the speakers and panelists all experts in their field, the topic of “The Sacred and the Profane” fascinating, deeply powerful and exquisitely relevant to our profession as appraisers. And oh yes, the food and coffee are fabulous and plentiful, and the people in charge of laying out the spread, at the top of their game. Kudos to Edie Yeomans, John Henley and Laurene Sherlock for conceiving, planning and realizing a genuinely AWESOME experience!”

– Ezra Tishman

“The quality of the ASA conference in Vancouver was exceptional. The programs were engaging and expert, with little, if any, fluff. The hotel and food, just great. But beyond all of this, I want to give a shout out to my fellow conference attenders. Not only were they collegial, they were unfailingly generous, open, and accessible in a way that is extremely rare. That so much courtesy was extended to a more-or-less stranger just starting out makes such professionalism all the more striking.”

– Darcy Tell

A special thank you to the conference planning committee, chair Edie Yeomans, FASA; John Henley, ASA and Laurene Sherlock, AM; the conference marketing committee, chair Brooks Rice, ASA; Lise Johnson and Morgan W. Eldrige, ASA.

Thank you to Bonhams, our Gold Sponsor; Kersten’s Anitques, our Silver Sponsor; Hagerty, our Bronze Sponsor and Artprice, our Friend Sponsor.

Save the Date
2017 ASA Personal Property Annual Connoisseurship Conference will be April 2017 in Boston, Massachusetts.

 

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Meet The Presenters: 5th Annual Equipment Valuation Conference

ASA’s 5th Annual Equipment Valuation Conference is set to take place June 8-9, 2016 in Cleveland, OH. This annual event has grown to become the definitive source for the latest insights into equipment valuation. One of the biggest reasons why is the Conference’s informative educational sessions on current market conditions and trends from experts in the field.

Here’s a look at this year’s lineup:

Craig_MarkTopic: Mining
Mark A. Craig, ASA, Principal | Craig and Associates

Mark Craig is the Principle at Craig and Associates. He has been consulting the banking / leasing industry since 1991 regarding all aspects of underground and surface mining infrastructure, affiliated applications and equipment management. An Accredited Senior Appraiser designated and certified by the American Society of Appraisers & the Equipment Appraisers Association of North America. Formerly a manager of mines with 45 years of mining industry experience: seven years as a Vice President or General Manager with multiple mine responsibility and seven years as a Mine Manager. Experience encompasses all operational techniques as well as purchasing, marketing, engineering, and personnel disciplines.

Decker_AndyTopic: Forklift/Lift Truck
Andy Decker, Director of Wholesale Forklift Sales | FLEXX Corporation

Andy Decker is currently the Director of Wholesale Forklift Sales, FLEXX Corporation. He is in charge of the wholesale forklift division for the FLEXX Corporation which acquired his companies in June of 2015. Andy runs the wholesale forklift team which sell all end of life forklift to the dealer and intermediate market throughout North and South America. Andy has spoken to numerous leasing companies at their annual meetings about the forklift leasing business. He has also been the featured speaker for the forklift and material handling equipment session at the ELFA Asset Management Conference on over 7 occasions.

Dunn_Jeffrey_BWTopic: Aircraft
Jeffrey Dunn, ASA, Vice President — Asset Management/Aircraft | Citizens Asset Finance

Jeff has over 16 years of experience in the aviation industry and currently serves as Vice President of Asset Management/Aircraft for Citizens Asset Finance. Jeff began his aviation career in the United States Air Force (1999-2008) where he worked as a jet engine depot-level mechanic on Pratt and Whitney TF33-P-5/P-7 engines (RC-135 aircraft) and General Electric F110-GE-100 engines (F-16 aircraft).  After being honorably discharged in 2008, Jeff gained his Airframe and Powerplant rating from the Federal Aviation Administration and worked as an aircraft mechanic at J.A. Air Center for 2 years (2008-2010).

Hartsburg_Brad_BW_70x50Topic: Oil, Gas and Fracking
Brad Hartsburg, ASA, President | Fortress Machinery Appraisals

Brad Hartsburg, ASA, CPPA, CSA is the president of Fortress Machinery Appraisals and Consulting Inc. which is based in Calgary, Alberta and serves predominantly the west and other areas of Canada, including the Yukon and Northwest Territories. Brad is an Accredited Senior Appraiser (ASA) with the American Society of Appraisers, as well as CPPA, a Canadian Personal Property Appraiser with the Canadian Personal Property Appraisers Group, and CSA, a Certified Senior Appraiser with the Equipment Appraisers Association of North America with 40 years of industry experience. He specializes in appraisals of heavy equipment; heavy trucks and trailering equipment in all industries, especially oilfield for specific purposes of asset based lending, insurance purposes, International Financial Reporting Standards as well as mergers and acquisitions.

Thomas_Hazelhurst_75x94Topic: Machine Tools
Thomas M. Hazelhurst, President | Machinery Management

Tom Hazelhurst is President of Machinery Management LLC. Machinery Management LLC is a full service asset management company offering remarketing, recovery coordination, warehousing, inspections, appraisals, and consulting on a broad range of metal cutting and fabrication machinery. He is also a partner in Globetec Group. Tom is a Certified Senior Appraiser (CSA) with the Equipment Appraisers Association of North America, is a Candidate ASA, and has a current USPAP designation. Tom has also earned the Certified Machine Tool Sales Engineer designation awarded by the American Machine Tool Distributors’ Association.

Helle_David_BWTopic: Banking Regulations
David L. Helle, ASA, Senior Appraiser|PNC Investments

David Helle has been with the PNC Financial Services Group or one of its predecessors since 1992. He is currently the head of Machinery & Equipment and Inventory appraisals for PNC’s Commercial Credit, Middle Market, and Small Business Sectors. He has held the designation of Accredited Senior Appraiser with ASA’s Machinery & Technical Specialties Discipline since 2006.

Robinette_Lee_BWTopic: Ins and outs of USPAP
R. Lee Robinette, ASA, President | Collateral Evaluation

R. Lee Robinette, ASA, is the President of Collateral Evaluation Associates, Inc. in Charlotte, NC. Lee has over thirty years of machinery & equipment and inventory appraisal experience. Lee is a former Chairman of ASA’s MTS Committee and is currently serving on the Appraisals Standards Board of The Appraisal Foundation.

Sesenbrenner_KevinTopic: Residual Setting
Kevin Sensenbrenner, ASA, Senior Vice President/Senior Managing Director| Stonebriar Commercial Finance LLC

Kevin Sensenbrenner is Senior Vice President and Senior Managing Director of Asset Management, with direct management responsibility for all asset valuation, lease portfolio management, and remarketing activities. He has served as an ELFA Equipment Management Committee member since 2007, speaks annually at the ELFA-EMC conference, and has developed extensive experience in valuing and remarketing commercial and industrial assets of all kinds. Kevin received a BA in Finance & Marketing from University of Wisconsin – Milwaukee.

Tefft_WilliamTopic: Residual Setting
Will Tefft, Senior Vice President Equipment Management | CapitalSource

Will Tefft is Senior Vice President, Equipment Management for CapitalSource’s Corporate Asset Finance group. In this role he is responsible for the analysis, valuation, and sale of capital equipment subject to loan and lease agreements. He has twenty years of Equipment Leasing and Asset Management experience, having held positions of increasing responsibility with CIT, ORIX USA, Heller Financial, and LDI Corp.

Teshome_Mekael_75x100Topic: Economic Outlook
Mekael Teshome, Assistant Vice President| PNC Financial Services Group

Mekael Teshome is assistant vice president and economist for The PNC Financial Services Group. He is responsible for contributing to PNC’s regional, national and international economic analysis. Teshome focuses on state and metropolitan economies within PNC’s core economic footprint as well as industry analysis. Teshome joined PNC in September 2011 from Moody’s Analytics, where he was lead analyst of the Greek and Norwegian economies. He serves on the board of economic advisors for the North Carolina Chamber Foundation, North Carolina’s largest nonpartisan business advocacy organization. He also serves on the board of directors of the Economic Club of Pittsburgh – the local chapter of the National Association of Business Economics (NABE).

Winterfeld_MichaelTopic: Transportation
Michael E. Winterfeld, ASA, Director/Appraisal Services | Taylor & Martin

Michael Winterfeld is the Director of Appraisal Services at Taylor & Martin Inc. He directs nationwide appraisal services of over-the-road equipment, conducts hundreds of physical and desktop appraisals of tractors, trucks and trailers as well as other related equipment, annually and provides appraisal services to numerous national lenders, carriers and lessors.

To register or to learn more about the conference and why appraisers, equipment management professionals, remarketers and industry service providers are attending, visit ASA Online or call (800) 272-8258.

 

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Seminars in the Land Down Under

The Australian Chapter held its annual equipment ID seminar in eastern Melbourne, this March. Attendance was strong with a good number of new candidates as well as leading Australian banks and financiers in attendance. We had members from every Australian State, New Zealand and our own International Governor, David Crick, ASA.

Attendees of Australia’s Equipment ID Seminar during one of the sessions.

Attendees of Australia’s Equipment ID Seminar during one of the sessions.

The summary of themes from the Seminar could be ‘cars are art’, ‘Forestry Sector isn’t environmental terrorism’, Banks really do need a better ‘story’ on the appraisal and lastly ‘the technology overlays in so many new growth sectors is mind boggling’.

The two day event commenced with a fascinating and in-depth review of the appraisal process and pitfalls in luxury/classic cars from Australia leading Rolls Royce and Bentley specialist Robert McDermott and a number of his examples of poor description and some of the enormous values being realised for rare cars clearly highlighted any appraiser in this space needs to have significant experience and contacts to verify the ‘real’ value. The following presentation was from Komatsu Forests which, in a country with a slowing mining sector is a shining example of a growing sector with significant growth forecast. The technology advances in harvesting over the last 20 years will be exponentially changed in the next decade.

We stepped up a notch with one of our own Chapter Members, Craig Bowring from Westpac Bank, giving a lively insight into equipment finance/leasing and the criticality of professional, in depth appraisal reports.

The 2016_Australia_Bombardierafternoon was a field trip to Bombardier Rail Manufacturing Facility in eastern Melbourne. The bus trip out was eventful as the driver (Louise) made a wrong turn and we ended up doing a 3 point turn into a bordello driveway…it made for a few smiles and witty comments.

Eventually we arrived at Bombardier where they provided an overview of rail in Australia, Bombardiers own position and the building programs covering most states in Australia. This was follwed by a detailed tour of their Tram and Passenger Train building facility following the start to end of the build on both sectors. Chapter members were fascinated by the huge amount of manual welding involved in the process, not to mention the 24 kilometres of electrical cabling used in each wagon!! The facility would also have to be one of the cleanest manufacturing facilities most members had ever been too.

Day 1 finished with a fabulous dinner where members enjoyed local seafood, red wine and other ‘refreshments’. It never ceases to amaze the Committee that fierce competitors in the work place can come together and get on so well over a beer. The banter was lively and in true Aussie style it went well into Day 2.

2016_Australia_Equip_ID_2Day 2 was ‘looking into the future’ with presentations from Cummins on engine technology and emissions (which raised some interesting anecdotes and issues from chapter members) followed by Kenworth Trucks on the future of technology on heavy trucks to improve both driver safety but improve fuel burn and engine outputs. A number of the new technologies are currently under trial and the way of the future will be truly amazing as it evolves.

The next sector was ‘yellow metal’ and the technology theme continued with some functions and real time diagnostics were things that 15 years ago we would have thought impossible.

This was followed by 3D Printing which was possibly one of the most fascinating presentations. This technology has been around for 30 years but the changes in the films, polymers has seen quantum growth and advancements. The growth charts and technology applications caused a strong audience questions and several members might move from appraising to 3D!! It really was remarkable what can be achieved with these machines.

The seminar was closed out with a very unique presentation on Textiles and Fabrics and their application in sectors such as filters, mining, fire retardation and building. Kerryn (Presenter) had bought with her real examples of new technology products such as composite Beams, tubes which were so light they could be carried to a building site. Her passion about her industry and also recycling was contagious and it was a fabulous was to finish off our Chapters 4th Seminar.2016_Australia_blog_3

The Australian Chapter Committee wishes to publicly thank the organiser of the hugely successful 2016 Seminar, Richard Crago ASA.  Richard did a tremendous job so well done.

‘Seminar 2017’ has been locked in and it will be held in Australia’s preeminent red wine growing region – Barossa South Australia, famous globally for its red wines. March 2017 should be locked into every calendar for all ASA members globally!! Come down under and enjoy the seminar that promises to be the best yet.

Written by: Steve Wall, Acting President

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Preview – 2016 Personal Property Summer Appraisal Camp

The Personal Property discipline of the American Society of Appraisers, for the fourth year in a row, has partnered with Purchase College, SUNY, to offer 2016 Personal Property Summer Appraisal Camp. This year’s camp will take place from June 4-18, 2016 at Purchase College, SUNY.

This accelerated summer camp program enables students to learn the skills needed to build their career in the field of personal property appraising. Attendees will learn everything they need to know to become leaders in valuation. Upon completion of the program, students will have taken the first steps toward qualifying for eventual accreditation and membership in ASA. Courses may also be taken individually if the prerequisites have been met.

2016 Summer Camp offers four core Principle of Valuation (POV) courses that are all taught by accredited senior appraisers: Introduction to Personal Property Valuation, Personal Property Valuation Methodology: Research & Analysis, Personal Property Valuation: Report Writing and Personal Property Valuation: The Legal & Commercial Environment. The instructor for the courses are Edie Yeomans, FASA, Fran Zeman, FASA, Sandra Tropper, ASA and Charles Rosoff, ASA.

Fran Zeman, ASA, the instructor of the PP202 class. Photo by Anthony Pellegrino,

A photo of the PP202 class with instructor Fran Zeman, ASA, at PP Summer Camp 2014. Photo by Anthony Pellegrino,

In the past this program has attracted students from across the nation and from a variety of backgrounds, including Fine Arts, American Indian Arts, Rare Books, Vintage Automobiles due to its unique offering of valuation theory education.

What Past Students Have Said About Personal Property Summer Camp

“The courses and study are intensive, but don’t let stop you from taking advantage of this great opportunity. The teachers are passionate about teaching and committed to the students. If you apply yourself to the studies at Purchase and ask lots of questions of the teachers, you will come out of the boot camp a superior appraiser of personal property. If becoming a top notch appraiser isn’t enough, you will have the opportunity to make new friends.  I made nearly two dozen friends with whom I now work on numerous assignments and who have become very dear friends – and that includes the teachers!”
John Henley, ASA, attended PP Summer Camp in 2012

“What I can say is taking all 4 courses consecutively was advantageous since they do overlap. The instructors were fantastic and encouraging.  All four of have continued to be supportive towards achieving my accreditation.”
Shirley Sanders, attended PP Summer Camp in 2014

“The teaching was great. I enjoyed all of the POV classes and learned a lot.”
Darcy Tell, attended PP Summer Camp in 2015

For more information or to register visit ASA Online or call (800) 272-8258.

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