Latest Publications

Exploring ASA’s New Discipline-Specific ARM Specialty Designation: Opening the Door to Expanded Income Opportunities

Editor’s Note: ASA recently sat down with ARM course developer and instructor, Jack Young to gain insight into ARM’s new discipline-specific specialty designation program and the newly updated courses.

[ASA] Tell us more about ASA’s new discipline-specific ARM specialty designation program?

[Mr. Young] ASA members can now add an ARM sepciatly designation to their existing ASA designation. Best of all, members can easily use their required reaccreditation CE hours to get this specialty designation that will add real value to your appraisal practice.

[ASA] What are the program’s requirements?

pic[Mr. Young] Members just need to take ARM 201-overview and ARM 204-application courses, pass the exams and turn in a demonstration report and application. Upon approval of the demonstration report you will be accredited for ARM in your existing discipline(s).

[ASA] Why should non-review appraisers consider adding an ARM specialty designation?

[Mr. Young] An ASA ARM specialty designation could lead to expanded income opportunities for litigation, loan underwriting, insurance losses, family law matters and many other areas. Past attendees of ARM classes overwhelmingly agree at the very least, the classes helped them understand the process of how their report may be reviewed, resulting in their producing better appraisal reports.

[ASA] What updates have been made to the ASA ARM courses?

[Mr. Young] The ASA ARM courses have been redeveloped and formatted to be taught in a “dialogue education style” that honors the knowledge and experience of the attendees, incorporating their professional contributions into the curriculum. Students have enthusiastically reported that dialogue with other appraisers in ARM classes has resulted in some of the best appraisal education that they’ve ever received.

[ASA] Can you tell us more about the Program’s two courses?

[Mr. Young] The ARM 201 Appraisal Review and Management Overview course, focuses on review of basic appraisal terms, uses of the ARM designation, how to avoid defamation, discussion of USPAP standard 3, logical fallacies, and review of other appraisal standards (IVS, SSVS, etc). In-class exercises guide you in constructing clear and concise arguments to support your findings while avoiding defamation. Students will review several reports for specific issues including scope of work, ethics, competency, and logic. Students also share their findings with the class creating a rich and valuable dialogue with fellow appraisers.

The ARM-204 Appraisal Review and Management Application course, is basically a hands-on appraisal review report writing class. Students bring reports to review (typically not their own) which will become the work under review for their demonstration report. The topics covered in ARM 201 will be discussed in great detail, while students review the reports under review and begin to prepare their demonstration report. Students share their findings and how they have specifically worded their argument in support of their findings in an objective way that does not leave the reviewer open to allegations of defamation. Students find great value in the discussion focused on specific findings in the reports they have brought into class. By the end of the class, each student will have the practical application knowledge of appraisal review and review report writing, including most of the components needed to assemble their demonstration report for submission for advancement. Appraisal management topics of record keeping, working with other appraisers and report signing are also covered.

Both classes are three days long with the exam on the fourth day. Courses will need to be taken sequentially.

[ASA] Where can ASA members find out more about the new discipline-specific ARM specialty designation program and classes?

[Mr. Young] Interested members should visit ASA Online or contact an ARM accreditation specialist at (800) 272-8258 or asainfo@appraisers.org. Upcoming ASA ARM classes are listed in the Society’s National Class Schedule.

Young_JackJack Young, ASA, CPA, is a machinery and equipment appraiser with NorCal Valuation. Inc. He is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers (ASA) with a designation in Machinery and Technical Specialties as well as an Appraisal Review & Management designation in the MTS specialty. Jack is an active member in the American Society of Appraisers, currently serving on the International Appraisal Review & Management Committee and also active in the local chapter, having served as Chapter President and currently serving on the Board of Directors.

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2017 Corporate Jet & Helicopter Investor London Conference Recap

72 landmark hotelOn January 30-February 2, 2017, the American Society of Appraisers participated at the 2017 Corporate Jet Investor Conference and the 2017 Helicopter Investor Conference at the Landmark London Hotel in London, England. Both of these conferences are preeminent events in the corporate jet and helicopter world.

Each conference held a variety of prominent speakers from all across the global, exploring various issues within the aviation market. Presenters maximized audience participation which simulated discussions on the formulation of new solutions and concepts. These jam-packed conferences featured several ASA members which included ASA candidate Bob Zuskin, Daniel Hall, ASA, and Richard Berkemeier, ASA in What is my Jet Worth; ASA candidate, Bob Wilke, in Whose Aircraft is it Anyways; David Crick, ASA and Jason Kmiecik, ASA, in Valuing Helicopters; and sponsorship from Sharon Desfor, ASA and David Crick, ASA. Attendees enjoyed networking with over 500 new and existing contacts during each of the networking breakfasts, refreshment breaks, lunches, and cocktail receptions in order to help build and expand their relationships.

For more information on upcoming conference, visit ASA Online or call (800) 272- 8258.

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ASA International Virtual Chapter Event Recap

Central University of Finance and Economics Beijing Campus

Central University of Finance and Economics Beijing Campus

On December 3, 2016, ASA’s International Virtual Chapter’s President, Blake J. Runckel, ASA, presented at the International Forum on New Development of Assets Valuation in Beijing, China. Organized by the School of Public Finance and Taxation at the Central University of Finance and Economics, this year’s forum held five sessions discussing topics on the new economic situation and government reform measures, the breakthrough of the dilemma of assets valuation industry, the role that assets valuation plays in economic development of capital market, and the expansion of new business and field of assets valuation. Mr. Runckel’s presentation on the Enhanced Multiple, developed by Bradford Cornell and Rajiv Gokhale, gave profound insight that attendees enjoyed.

For more information regarding the International Virtual Chapter visit ASA online.

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IVSC AFWG Committee Visits Washington, D.C.

Jack Beckwith, ASA

Jack Beckwith, ASA

Jack Beckwith, ASA represented ASA at the 2017 International Valuation Standards Council (IVSC) AFGW event this month in Washington D.C. Mr. Beckwith, along with other representatives from valuation professional organizations met to discuss the publication of the International Valuation Standards.

ASA has adopted the new 2017 Edition and fellow ASA Members will be able to download the 2017 Edition through the ASA link at no charge. Changes to the original IVS version adds Standards IVS 300 which is applicable to the Machinery and Technical Specialties Discipline, as well as the development of Standards contributable to the IVS 101 Scope of Work, IVS 104 Basis of Value, and IVS 105 Valuation Approaches; the development of governance and organizational structure; the establishment of an internet website that allows for 72 AFWG DC Meeting 2.14.17internal and external communication and development of the IVSs; the International notoriety among valuation profession stakeholders; and the adoption of IVSs worldwide by various VPOs. With these new standards in place, this will further help facilitate the primary objectives of ASA on an International scale.

For more information regarding the new standards, visit ASA online.

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The American Gem Trade Association GemFair Conference Recap

72 AGTA LogoTuesday, January 31-Sunday, February 5, 2017, the American Society of Appraisers participated in the 2017 American Gem Trade Association Gem Fair and Conference in Tucson, Arizona. This year’s conference focused on the rise of silicosis and the health concerns within the colored gemstone industry.

Special attractions and extraordinary seminars were presented throughout the conference from prominent leaders of the industry. Topics included Sourcing of Pink Diamonds, Appraisal Forum, Digital Design Tricks for Gemstones, Proof of Provenance, Techniques for Small Scale Productions, One Hundred Years if Cultured Pearls, Secrets of the Gem Trade, International Property Law for Jewelers, 72 Boothalong with several others. The collection of this year’s AGTA Spectrum award winners were displayed and guests were given the opportunity to vote for the last spectrum award of the year. After a full day of lectures, attendees unwound and networked during receptions and cocktail hours.

ASA-GJ sponsored a booth at the conference, manned by 14 ASA members.  ASA’s CEO, Jim Hirt payed a visit to the ASA Booth. The booth was organized by Marti Hubbard, ASA, MGA and Theresa Brossmer, ASA, MGA, ARM-GJ, whose commitment and leadership has furthered ASA recognition in the gems and jewelry industry.   Interest in ASA Membership was driven by high interest in the 9th edition of the Jewelry Appraisal Handbook offered for sale in the ASA booth.  All representatives with knowledge and understanding of the society, have played a key role in the efforts of ASA. “Volunteering for ASA takes on a realm of understanding and participation on a broad scale. It behooves every member to play a part” — Juanita Addeo, FGA, GG, ASA, MGA.

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(Left to Right): Mary B. Reich, ASA, MGA; ASA CEO, Jim Hirt, CAE; Theresa Brossmer, ASA, MGA, ARM-GJ

ASA would like to thank ASA CEO, Jim Hirt, CAE; Marti Hubbard, ASA, MGA; Theresa Brossmer, ASA, MGA, ARM-GJ; Juanita Addeo, FGA, GG, ASA, MGA; Carole C. Richbourg, ASA, MGA; Duane W. Hutchison, ASA, MGA; Kennon E. Young, ASA, MGA; Maury Woulf; Tracy L. Aros, ASA, MGA; Eleanor Smith; Eric M. Shelton, ASA, MGA; Harold Lindsay, ASA, MGA; Nancy Weiss; Monica L. Caldwell, ASA, MGA; Bradley C. Pear, ASA, MGA; Linda Salik; and Chandra Pennington for their hard work and commitment at the AGTA GemFair Conference!

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17th Annual Aircraft Education Program Preview

indexThis year, the National Aircraft Finance Association (NAFA) has teamed up with Embry-Riddle Aeronautical University (ERAU) and the American Society of Appraisers (ASA) to offer an eight hour course for aircraft appraisers at the National Aircraft Finance Association Annual Conference on Tuesday, March 21, 2017 at the Harbor Beach Marriott in Fort Lauderdale, Florida.

ERAU is the exclusive teacher of aircraft appraiser classes that are bringing their knowledge and expertise to this year’s program.  Designed to provide real world skills and best practices, this year’s program has been designed to create a more technical learning experience. This year’s topics include opening remarks from NAFA President, Chris Miller, and 72 Cessna172-CatalinaTakeOffEmbry-Riddle Aeronautical University Dean of Business, Dr. Michael Williams; The New Aircraft Accreditation Process through ERAU by Dr. Sunder Raghavan, ASA; USPAP Updates by Richard Berkemeier, ASA; Market Updates by Carl Janssens, ASA; Updates in Business Aircraft Maintenance Trends by George Kleros; NextGen Updates / ADS-B Equipage by Alexander Craig, Kenneth Byrnes, and Carey Miller; Effect of ASA Valuations on the Asset Management Process by Anthony Kioussis, Jeff Dunn, Luci Johnson, Alan Perzigian, and Kevin Sensenbrenner, ASA; Aircraft Insurance Updates by Louis Seno, ASA, Steve Johns, Edmund Underwood, and Jon Riemenschneider; and closing remarks from JSSI Chairman Emeritus, Louis Seno, ASA, and Citi Private Bank VP, Ford von Weise.

Open to the public and offered at the start of the National Aircraft Finance Association Annual Conference this spring, this eight hour course will include curriculum required by ASA to be accredited as an aircraft appraiser of commercial, business and general aviation aircraft including fixed-wing and rotorcraft, and other aerospace assets.

For more information regarding this course offering, contact Richard Berkemeier, ASA at richardberkemeier@gmail.com.

To register for this event visit NAFA Online.

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Energy Valuation Conference Preview

Houston_LogoEditor’s Note: The American Society of Appraisers Houston Chapter will host the 2017 Energy Valuation Conference on Wednesday, May 3, 2017 at the Federal Reserve Bank of Dallas in Houston, Texas.  ASA sat down with Laurie-Leigh White, ASA to take a closer look at this upcoming event.  

Can you give us a synopsis of the programs being presented?
This conference is designed to bring together prominent energy valuation professionals along with exceptional networking opportunities. The featured speakers are remarkable leaders in the energy industry from all across the United States possessing a variety of different perspectives. To give you some examples, we are having a SVP from Moody’s who will address the effect of oil prices on energy company credit, the Chief Economist from the Greater Houston Partnership, the Chairman and CEO of Netherland Sewell, among others.

What makes energy valuation so important to appraisers? 
This is a very dynamic and cyclical industry that affects different cities across the world such as Denver, Houston, and several others. Even if your client isn’t an energy company, energy can still play a vital role in its performance.

What can attendees expect to take away from this event?
Participants will have a better understanding of the current economic and geopolitical conditions of the industry. They will also find solutions to challenges they may face based on their locations. This is a very holistic and well-rounded conference that attendees will learn and enjoy from – not just appraisers.

When is the last day to register for this event and where can you register?
The last day to register for the conference is Thursday, April 26, 2017. Attendees be offered 10 hours of continuing professional education and can register through the American Society of Appraisers Houston Chapter as well as the Houston CPA Society’s websites.

72Coordinator Biography  
Laurie-Leigh White, ASA is a knowledgeable business valuation professional with more than 10 years’ experience. Ms. White received a Master of Science in Accounting, a Bachelor of Business Administration in Accounting, and a Bachelor of Arts in Political Science from Southern Methodist University, where she graduated with highest honors. Ms. White has been on the planning committee for the Energy Valuation Conference since its first launch and is serving as the current chair for the conference.

 

For more information, visit ASA online or contact us at (800) 272-8258.

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Heritage Auction’s Webinar Preview

indexEditor’s Note: The American Society of Appraisers has teamed up with Heritage Auctions to offer the Heritage Auctions: An inside Look at the Largest Collectibles Auction House webinar to be held on Wednesday, March 1, 2017 from 2:00pm-4:00pm ET. ASA got the chance to sit down with Meredith Meuwly to take a first look at this upcoming webinar.

Can you tell us a little bit on how this class was formed?
I attended ASA’s 2016 International Appraisers Conference in Boca Raton, Florida and Richard Berkemeier, ASA, who is part of the Machinery and Technical Specialties Discipline Committee, messaged me asking if I could arrange a webinar illustrating the history of Heritage Auctions to ASA members.

Can you give us a brief summary of topics that will be covered?
I will be covering the history and expansion of Heritage Auctions by giving you great inside stories on how it came to be. To give you a quick review we first started off by auctioning coins then comic books and now, all of a sudden, we became the third largest auction house in the world within a 35 year timeframe. I will also cover unique categories that are special to Heritage as well as free resources that are available for appraisers on our website, which is www.ha.com. This is a fantastic relationship building workshop where participates can ask questions to get to know Heritage and what we do best, that will hopefully encourage appraisers to use our services.

What audience is this webinar geared towards?  
This webinar is opened to all appraisers who are interested in Heritage Auctions and the services we can provide them and their practice.

What can attendees expect to take away from this class?
Participates will have a better understanding on who to contact within Heritage Auctions about their inquiries. They will also gain the ability to navigate through our free resources page on our website.

Instructor Biography
Meuwly_Meredith newMeredith Meuwly is a seasoned professional working in the international art auction and appraisal industry since 2001. Meredith earned her Bachelor’s degree in Classical Studies and Art History from Duke University and has a Master’s degree in Modern Art, Connoisseurship, and the History of the Art Market from Christie’s Education in New York. She spent five years in Christie’s New York Antiquities Department as a sale coordinator and cataloguer of ancient Greek, Roman, Egyptian, and Near Eastern works of art. During her time at Christie’s, she worked on numerous high profile auctions including the Doris Duke Estate, Ancient Egyptian Art from the Harer Family Trust, and the John W. Kluge Morven Collection of Ancient Art. Meredith joined Heritage Auctions in 2007 as Senior Consignment Director in the Fine & Decorative Arts Department, overseeing two auctions each year. In January 2010, she became the Director of Appraisal Services, preparing formal appraisals for 40 specialist categories. In addition to her duties at Heritage, Meredith participates as an appraiser for Antiques Roadshow on PBS, specializing in Glass, Silver, and Decorative Arts.

For more information, visit ASA online or contact us at (800) 272-8258.

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ASA BV201 Mexico City Course Recap

The American Society of Appraisers held an onsite training course from January 18-21, 2017 in Mexico City, Mexico. Participants of the BV201— Introduction to Business Valuation, Market Approach course were able to obtain thorough knowledge and expertise from ASA’s International Past President, Linda B. Trugman, ASA.

The Introduction to Business Valuation is the first course in the Principles of Valuation (POV) course series for the American Society of Appraisers. It introduces practitioners to the steps necessary to complete a valuation assignment and provides an overview of how to apply the Market Approach. More specifically, the course introduces the Guideline Public Company and Merger and Acquisition Methods through the use of a case study.

Students were extremely happy and impressed with the information provided and the structure presented to them. The course material had new and very important information and training that the students had not been exposed to previously

MexicoThe class was sponsored by ASA’s Mexico City Chapter and was attended by 40 local students.

The Society’s Onsite Course Program is a popular option for local chapters or 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 a local chapter or organization’s individual needs. The courses provide a convenient and cost effective means of helping members or employees with professional development opportunities and to achieve a designation with ASA.

For more information, visit ASA online or contact us at (800) 272-8258.

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ASA Attends the 51st Annual Heckerling Institute on Estate Planning

imagesThe 51st Annual Heckerling Institute on Estate Planning Conference was held on January 9-13, 2017 at the Orlando World Center in Orlando, Florida. The conference this year focused on the potential impact of the 2016 election and an update on the recently issued Section 2704 Proposed Regulations.

Jeffrey B. Reardon, ASA (Left) and Bryan M. Fleming (Right) speaking with attendees

Jeffrey B. Reardon, ASA (Left) and Bryan M. Fleming, ASA (Right) speaking with attendees

ASA was pleased to send representatives to the conference to help support ASA’s exhibitor booth. ASA volunteer members Robert H. Buchanan, ASA; Bryan M. Fleming, ASA; Mike McGovern, ASA Candidate; Jeffrey B. Reardon, ASA; Morgan W. Eldridge, ASA; Duane W. Hutchison, ASA, MGA; Thomas Seguin, ASA, MGA; and Marketing and Communications Assistant Jennifer Aguilar from ASA headquarters were on hand to answer any questions, provide information on what ASA has to offer, and informed all attendees about ASA’s free “Find an Appraiser” search tool. Volunteer members played a crucial role in representing ASA and explaining the importance of having the ASA designation.

ASA held a raffle with multiple prizes, 1 large Yeti cooler and 3 Yeti mugs. These prizes proved to be exceptional by the amount of business cards placed in the raffle bowl, over 600! Many attendees were impressed by the prize and spread the word, which sent a lot of traffic to ASA’s booth and gave ASA a greater ability to engage with conference attendees.

For more information regarding the “Find an Appraiser” tool, visit ASA Online or call us at (800) 272-8258.

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