In the first episode of our new You Tube video series, ASA Coffee Break, the American Society of Appraisers welcomes Donna Smallin Kuper, Organizing Expert, Author and Speaker. In her new book, How to Declutter and Make Money Now, Ms. Kuper provides sound advice for anyone in need of a little motivation to get organized (hint-money!).

The American Society of Appraisers (ASA) is honored that Ms. Kuper included ASA as a resource in her book; and we’re very grateful that she took the time out of her busy (yet still organized) schedule to join us for an ASA Coffee Break!

To learn more about getting uncluttered or to purchase her new book, ‘How to Declutter and Make Money Now’ visit, www.unclutter.com.

“LEAPS and the DLOM”, a new publication authored by Tampa, Florida based Ronald Seaman, FASA takes a close look at the topic of LEAPS or publicly traded put options. Seaman, an expert on the topic shares his knowledge from his studies of over five years on the use of LEAPS as proxies for the DLOM (the discount for lack of marketability) on privately held stocks.

Business appraisers looking to learn more about LEAPS and how to use them could benefit from Seaman’s insight and conclusions. The publication contains the latest LEAPS annual study results, an expanded study of LEAPS on ETFs, and thoughts on what the discount for lack of marketability is and how to determine.

Ronald Seaman, FASA

Ronald Seaman is President of DLOM, Inc. located in Tampa, Florida. Mr. Seaman holds a Fellow American Society of Appraisers (FASA) designation and is accredited in Business Valuation. He also served as the organization’s International President in 2009. Seaman is a graduate of Harvard University with an M.B.A. and has been a business valuation practitioner for 25 years.

“LEAPS and the DLOM” is available for purchase for $85 at http://www.dlom-info.com

For more information about “LEAPS and the DLOM” contact Ronald Seaman at (813) 380-8195 or ronseaman@dlom-info.com.

D. Scott Atkinson

“Give me a museum and I’ll fill it,” said Pablo Picasso. But he wasn’t talking about obtaining a tax deduction. As tax season heats up, museums are being asked how to donate a work of art. It’s often frustrating for donors to discover that museums cannot accept everything that is offered and that curators cannot comment about the value of a gift. Even if a museum has agreed to accept a work, the donor often finds himself on his own when it comes to getting an appraisal.

“Museums must avoid the appearance of collusion,” says San Diego, CA based D. Scott Atkinson, Candidate Member of the American Society of Appraisers. He explains that it is not ethical for museums to be involved in the valuation of donations and that the IRS expressly prohibits appraisals by a donee. While curators want to be helpful to their donors, museums cannot select, hire or pay an appraiser: this is the job of the donor.

Making it even more complicated, the IRS has recently tightened up the rules so that fewer appraisers now are “qualified” to write charitable donation appraisals. Even if they wish to give an important work by Picasso, donors are finding that it is not a simple task. Most of the rules are explained in IRS Publication 561 and in a new book titled To Give and To Receive: A Handbook on Gifts and Donations for Museums and Donors, which was edited by two American Society of Appraisers members, Sharon S. Theobald, ASA and Laurette E. McCarthy, Ph.D., AM.

For information on museum donation appraisals contact D. Scott Atkinson at (858) 268-0028 or dsacurator@yahoo.com

Laurette McCarthy, Ph.D., AM

What is appraisal research? As you might expect, art appraisers spend plenty of time looking up prices, but top appraisers say that some research has nothing to do with money.

Judith Vance, ASA

When an appraiser arrives at a client’s home, the first challenge is identifying and ranking the items to be appraised. How does an appraiser know even what century a work was painted?

Peterborough, NH based Judith Vance, ASA, tells the story of looking at a painting that her client identified as by an 18^th century Venetian painter. Based upon extensive first-hand knowledge, the appraiser was able to identify it as a 19^th century copy. “It was still a wonderful painting,” she says, “but the difference in market value between an 18^th original and a 19^th century copy was many zeroes.”

 For more information about art appraisals contact Laurette McCarthy at 812-236-3820 or lmcca13@gmail.com, or Judith Vance at 603-924-4063 or jvfineart@comcast.net.

Hospital Real Property Tax Assessment: Entrepreneurial Profit, is a recently published article written by Jack Randall Poteet, an Accredited Senior Appraiser of the American Society of Appraisers. The article is featured in the March issue of ‘Fair and Equitable: The Magazine of the International Association of Assessing Officers’.

“This article presents two upward adjustments within the cost approach to account for entrepreneurial profit in the valuation of hospitals. Both adjustments relate to the benefit that the subject hospital property provides in enabling the purchaser to gain timely access to a profitable market without having to endure costly delays. Both adjustments pertain to the present value of a dollar: one to the delay in completing hospital design and construction, and the other to the delay then required to achieve market stabilization of the hospital real estate after construction is complete. By purchasing the subject hospital, the purchaser avoids such delays and the present value of that benefit is entrepreneurial profit. Although the example presented here applies to hospitals, the cost approach model applied here has potential application to a wide array of other commercial properties as well.”

Read the full article in the March issue of ‘Fair and Equitable’ online or download the PDF version of Hospital Real Property Tax Assessment: Entrepreneurial Profit.

Rebecca Apodaca, president/CEO of A & D Music, Inc., has a deep passion for music, which drove her to obtain the highest professional qualifications for her music business in Laguna Hills. Apodaca reshaped her career with an appraisal certificate earned from the UC Irvine Extension Appraisal Studies in Fine & Decorative Arts Certificate Program.  The program carries the distinction of having a partnership with the American Society of Appraisers (ASA), and offers participants the only university-based program in appraisal studies west of New York City.

“As a musical instrument restorer, you are part artist, scientist and surgeon,” said Apodaca. “I have restored instruments more than 150 years old. The history, craftsmanship and beauty of these items warrant the utmost care, professionalism and appreciation, which launched me into my appraisal education.”

Why Apodaca Selected UC Irvine Extension to Help Reinvent Her Career

Because of the institution’s partnership with the ASA, convenient schedules for working people, program affordability, and UC-quality coursework, Apodaca selected UC Irvine Extension to enhance her expertise in writing appraisals. Her business advanced to a whole new level in working with iconic musicians, museums, attorneys and high-end collectors.

“After 33 years in the music business, it was necessary for me to reshape my career to meet the demands of the economy,” said Apodaca. “I am proud to be associated with the high caliber of instruction and knowledge that UC Irvine Extension delivers for professionals in my specialized field.”

Once Apodaca earned her general appraisal certificate, she became confident in exercising her knowledge for the benefit of future music appraisers. With determination to raise the bar, Apodaca helped establish the Musical Instrument Category within the ASA, the only professional valuation organization that accredits members in every appraisal discipline.

An IRS “Qualified Appraisal” is now required due to the Pension Protection Act for Non-Cash Tax Donation, Estate Settlement and Dissolution of Marriage. This affects the entire nation. Many insurance companies are now requiring the same qualifications. Most homeowner’s insurance only covers $2,000 in musical instruments. UC Irvine Extension education provides that training.

Pioneering A Way to Train Future Musical Instrument Appraisers

“While in the UC Irvine Extension appraisal program, I saw a vital need for a musical instruments category because there are only 20 accredited music appraisers in the US and none with ASA, the top appraisal society.” said Apodaca. “My hope is that it will open up the possibility of new careers across the nation for music appraisers and raise the caliber of the industry.”

A $17 billion dollar industry, music appraising involves determining the correct valuation for musical instruments. Apodaca is unique being educated in – brass, fretted, international, orchestral, percussion, sheet music, and woodwind musical instruments and their related accessories. Most will specialize in only one area. A certified appraisal is based on actual comparable sales and is a written legal argument of the value conclusion, similar to a real estate appraisal.

Apodaca frequently conducts appraisals for generous celebrities and renowned musicians who auction their collections for charity or make donations.  Every appraisal she makes affirms the importance the ASA’s musical instrument appraisal category, which provides a significant service to collectors, who regularly donate items for charity, but often miss out on getting the full measure of tax breaks.

Possible Story Ideas:

• Reinventing careers for veterans in the music industry
• UC Irvine Extension helps business owners reshape careers for today’s economy
• Why accredited appraisers in musical instruments are needed more than ever
• The importance of continued career development despite age and professional status
• How appraisal accreditation and certification brings added value in working with attorneys and insurance companies

For interviews, photos or more information, please contact Vivian Chan-Slater at 714-573-0899 ext. 235 or vivian@echomediapr.com.

###

As one of ASA’s accredited senior appraisers, Francine Proulx hopes to help consumers and the appraisal profession by educating and sharing her knowledge and passion with others. Just recently she was featured in both the Washington Post Magazine and Viva Tyson’s Magazine.

In these well written articles, Proulx not only shares with us the story of how she became an appraiser, but she also educates the reader on the appraisal profession. Particularly, she addresses some of the common misconceptions viewers and consumers have about appraisals from watching popular shows like, ‘Antique Roadshow’.

THE WASHINGTON POST MAGAZINE – “Most people don’t grasp that this is a profession,” says appraiser Francine Proulx. “They think of “The Roadshow” – most of the people are not appraisers, they’re experts. Experts identify; appraisers value.”

Read the full article on the Washington Post Magazine.

Read the full feature in Viva Tyson’s Magazine January-February online issue, page 96-97.

Philadelphia, Pa. – The Philadelphia Chapter of the American Society of Appraisers is holding its 6^th Annual Business Valuation Seminar April 20, 2012 in Plymouth Meeting, Pa. Topics to be discussed during this one-day seminar include size, liquidity, marketability, Subchapter S corporation valuation, working with the IRS, and reasonable compensation.

Attendees will have the opportunity to earn 8 continuing education credit hours while hearing from industry experts. The seminar’s program and featured speakers include:

• The State of Affairs on Size Premiums presented by Mike Crain
• Size and Liquidity Premiums presented by Professor Ashok Abbott
• The IRS Job Aid on Discount for Lack of Marketability and Subchapter S Valuation Adjustments presented by Michael Gregory
• How to Work with the IRS presented by Michael Gregory
• Reasonable Compensation, presented by Stacey D. Udell

“Our program this year is intended to focus upon topics of significant importance to any business appraiser, and to provide them with the “state of the art” thinking and information on such subjects,” stated Robert Haas, Jr., ASA, President of the Philadelphia Chapter.

Registration forms can be downloaded here or you can register online at www.asaphila.com/members.html. To learn more about the 6^th Annual Business Valuation Seminar, please contact Robert Haas, Jr., ASA at 215-887-6500 or by email at rhaasjr@rmha.com.

About the American Society of Appraisers
The American Society of Appraisers is an international organization of appraisal professionals and others dedicated to the education, development and growth of the appraisal profession. More than 2,000 of its 5,000 members are business valuation appraisers. ASA is the oldest and only major organization representing ALL disciplines of appraisal specialists, originating in 1936 and incorporating in 1952. ASA’s headquarters is in the metropolitan Washington, DC area. To find an accredited appraiser near you, visit www.appraisers.org or call (800) 272-8258.

SAVE THE DATE: June 4-18, 2012 ASA and Purchase College, State University of NY will offer the 2012 Summer Appraisal Camp designed for those interested in developing the skills necessary to build or further their career in the appraisal of personal property.

The Summer Appraisal Camp, held at Purchase College on a campus above New York City, is an an accelerated, intense two-week program of appraiser education designed to give you all the essential valuation skills needed to be an appraiser of personal property.

The Camp offers the four required courses taught through lectures, optional field trips, hands on exercises, and the use of the College’s Neuberger Museum of Art. Students will learn theory and its application and skills necessary to value and evaluate a wide range of items with assurance and competence.

This rigorous program contains all courses that ASA designated appraisers must complete, making them the most qualified in the profession for appraisal assignments. Assignments include insurance coverage, division of property, and sale and purchase of property.

Schedule for The Summer Appraisal Camp

• June 4-7    PP/GJ201 – Personal Property Valuation Methodology – Introduction
• June 8-10  PP/GJ202 – Personal Property Valuation Methodology – Research & Analysis
• June 11-14 PP/GJ203 – Personal Property Valuation – Report Writing
• June 15-18 PP/GJ204 – Personal Property Valuation – The Legal & Commercial Environment

All courses are taught by experienced instructors who are Accredited Senior Appraisers. The courses in the program fill the education qualifications towards membership and accreditation in ASA. Take courses individually or earn your Appraisal Studies Certificate from SUNY Purchase by completing the university requirements. Students who successfully complete four required courses are awarded an Appraisal Studies Certificate by Purchase College and, complete the 120 education hour requirement of The Appraisal Foundation. Accredited appraisers taking the courses earn continuing education hours toward reaccreditation.

There is a 10% tuition discount for individuals registering for all four courses.

For more information or to register, visit the university’s website or contact Kelly Jackson in Continuing Education at SUNY Purchase.