Editor’s Note: The American Society of Appraisers is hosting a Personal Property class Business of Appraising— What You Need to Know about Running Your Appraisal Practice on Friday, October 14-Saturday, October 15, 2016 from 9:00am to 4:30pm at the Huntington Library, Art Collections, and Botanical Gardens in San Marino, California. ASA received a preview of course from instructor Joy Berus. 

Q: Can you tell us a little about how this class was formed?
A: I have found through the course of my career that many clients and colleagues do not understand the process of setting up and running an appraisal practice. This course was developed to help take you through the process on what to do, where to start, and how to maintain it once you have it running.

Q: What can attendees expect to take away from this class?
A: This class will provide both new and experienced personal property appraisers insight into setting up and running a successful appraisal practice. Students will receive valuable tips and advice on important business and legal issues that many valuation professionals face. Topics being discussed will include contracts, business entities and trusts, employees and independents contractors, leases, expenses, taxes, liabilities, getting paid and more.

Q: Why should appraisers of personal property or gems & jewelry attend this class?
A: This course is appropriate for new or experienced appraisers wishing to update and review current issues pertaining to conducting an appraisal business.

Q: Can you give us some background information about yourself?
A: I am a nationally known expert in the practice of art law with over 20 years of experience. My unique practice focuses on art and other tangible assets as an asset class with the goal of maximizing value and minimizing tax liability. I have specialized knowledge in art law, personal property law, tax law, appraisal law, UCC, and transactional law. I serve the needs of individual, corporate and museum clients who own all types of tangible assets from paintings, sports memorabilia, jewelry, and wine to classic cars.

To register for this class or for more information visit ASA Online

The American Society of Appraisers announces a new webinar series focusing on topics geared towards appraisers and allied professionals who specialize in personal property.

Personal Property Appraiser, Alan Aimone, ASA

The series will kick off August 17, 2016, with Books for the Generalist Appraiser, presented by Alan Aimone, ASA. This online webinar will focus on information required for a book appraisal. The instructor will give recommendations on the approach to inspecting and examining a book while introducing the six value factors to valuing published material. The webinar will take an inside look at aspects of the book market, publishing trends, characteristics of an advanced book collection and more.

Webinar airs 1-3p.m. ET | $79 members; $99 non-members | 2 CE credit

Personal Property Appraiser, Stephen M.H. Braitman, ASA

Appraising Music Memorabilia: Issues and Opportunity will follow, airing on September 28, 2016, and presented by Stephen M.H. Braitman, ASA. This online webinar will serve as a primer for the general personal property appraiser on what to look for when confronted with a music collection, and will provide an overview of the current market for records and music memorabilia, including LPs, 45s, posters, sheet music, photographs, signed guitars and more. The most important takeaway will be the knowledge to know within a relatively short time whether a collection is worth serious evaluation or not.

Webinar airs 1-2p.m. ET | $39 members; $69 non-members | 1 CE credit

Director of Office of Public Responsibility, Internal Revenue Service, Steve Whitlock

How Due Diligence and other Provisions of IRS Circular 230 Apply to Appraisers will be airing on October 26, 2016, presented by Steve Whitlock. This online webinar will provide an overview of the history and provisions related to appraisers in Title 31 of the Code of Federal Regulations. It will explain how appraisers are impacted by IRS standards for professional conduct and several key questions will be discussed such as: What due diligence obligations and other key provisions of Circular 230 apply to appraisers? Why might the IRS Office of Professional Responsibility sanction an appraiser? What sanctions can be taken, and how are they publicized? What is the difference between sanctions and penalties? What penalties apply to appraisers?

Webinar airs 1-2p.m. ET | $39 members; $69 non-members | 1 CE credit

International Microsoft Office Coach, Teresa Bell

Closing out 2016, Secret Shortcuts in Microsoft Excel to Create Easy Inventory Valuation Reports will air November 9, 2016, with presenter Teresa Bell. This online webinar is for the self-taught Excel user who knows there must be an easier way of producing inventory claims reports. You’re right. There are super easy ways. In the “Appraiser’s World” time is of the essence. Stop wasting time clicking around in Excel trying to find the tools you need. You will finally learn how to make Microsoft Excel work for you instead of you working for Microsoft Excel. This fun and interactive 90 minute session will fly by as we explore how to easily design inventory valuation reports so that they are easier for your colleagues/clients to understand and read.

Webinar airs 1-3p.m. ET | $79 members; $99 non-members | 2 CE credits

Personal Property Appraiser, Peter Held

Kicking off the New Year, Appraising 20th & 21st Century Studio Craft will air on February 15, 2017, presented by Peter Held, AM. This online webinar will give appraisers the resources to better understand the market (retail, secondary, auction). Appraisers will also receive clarification on issues of identification when appraising 20th & 21st century studio crafts. Discussions of craft materials and techniques will help prepare the appraiser in establishing values for insurance, charitable contributions, and estate planning.

Webinar airs 1-3p.m. ET | $79 members; $99 non-members | 2 CE credits

ASA online webinars provide an excellent, cost-effective learning environment that not only saves busy professionals time and money, but also keeps them updated on the latest tips, trends and issues impacting their practice and professional growth. Register online for an ASA webinar today, or by calling (800) 272-8258.

Have a busy schedule and can’t make a live online webinar? ASA has a full lineup of recorded webinars for immediate OnDemand download. Visit ASA’s Marketplace for a complete listing of available titles.

Editor’s Note: The American Society of Appraisers new GJ207 – Jade: Identification, Treatment and Value course will be held Wednesday, September 14, 2016 in Boca Raton, FL. For those new to this topic, let’s take a closer look to learn more with Q&A from course instructors, Branko Delijanin and Angelina Yip

How has the industry of Jade changed over the past few years?
The price had gone sky-high, there is almost no limit of how much a high quality piece of jade would cost. B jade (impregnated) is getting harder to detect and advanced instruments need to be used.

What new issues do you see in the Jade industry?
Some jade dealers in the Far East have recently perfected a method of making lower quality jade appear very similar to its top quality counterpart. Dyed quartzite has been selling as “Canadian jade” at major shows by some Asian dealers.

What do you think the future will hold for the Jade industry?
More and more B and C jade (dyed) and jade simulants will be in the market because of affordability. Nephrite Jade prices will continue to rise due to higher demand for jade in China and Asia.

Why should a GJ appraiser, gemologist, jeweler or dealer attend this course?
Gemologist should understand more about how to separate jadeite from its simulants and how to screen for A, B, or C jade. Appraisers, jewelers and dealers will have better understanding of the quality of Jade and how to appraise, buy or sell such.

What topics will the course cover?

• Separation of Jadeite Jade from Nephrite Jade
• Identification and Jade imitations with standard instruments
• Use of spectroscopy and microscopy in detecting dyed jadeite jade
• Screening for Jade (A, B or C) with UV lamp
• Testing of Jade with advanced instruments at CGL-GRS Swiss Canadian gemlab
• Quality grading of Nephrite and Jadeite Jade
• Providing information on Jade pricing and researching prices

How to use standard gemological equipment for identification?
How to use the basic equipment for identification; learn about the different treatments of jade, and valuation. They will also get handout material of each PowerPoint slide and Jade article by instructor published in “Business Jewellery”.

Branko Delijanin, B. Sc., GG. FGA, DUG

Can you give us some background information about yourself?
[Branko Deljanin] As a research gemologist with extensive experience in advanced testing of diamonds and gemstones, I have conducted on-site research on gems and colored diamonds in Sri Lanka, Russia, Brazil and Australia, and managed many projects on natural, treated and synthetic gems and diamonds. I am also an instructor of “Advanced Gemology” programs on diamonds and gems and have taught in Canada, USA, Russia, Brazil, Europe (UK, Turkey, Greece, Spain, and Italy), Australia and Asia (Hong Kong, Thailand).

Angelina Yip, GG., RMV

[Angelina Yip] I have always been fascinated with gemstones, especially jadeite. I hold credentials as a Graduate Gemologist (GIA), Accredited Senior Gemologist (AGA), and Registered Master Valuer (RMV) and have extensive training in the identification and evaluation of various jewellery and all types of gemstones including diamonds, coloured stones, jadeites and pearls.

The American Society of Appraisers participated in the 25th Annual Consultants’ Conference on Saturday, June 9, 2016 at the Hotel del Coronado in San Diego, CA.

This annual event, hosted by the National Association of Certified Valuators and Analysts, featured compelling speakers presenting captivating topics. Speakers and topics included Robert James Cimasi, ASA with Treading Matters in Business Valuation and Healthcare Valuation, Can’t See the Forest for the Trees—Misapplication of Economic Theory to the Increasing Regulatory Trend Against Vertical Healthcare Integration, and Conversations with the Masters Q&A Panel, Courtney S. White, ASA with Analyzing Personal Goodwill in Matrimonial and Estate Valuations, Robert J. Grossman, ASA with Impact of the IRS Job Aids and The Three Valuation Approaches —Challenges and Issues, Chris E. Best, ASA with Preparing Defensible Forecasts, Jason Ruchaber, ASA with Nuances in the Valuation of Service Line Joint Ventures, Bruce A. Johnson, ASA with How to Objectively Support Discounts for Lack of Marketability—The Empirical Approach, Lisa M. Cribben, ASA with Goodwill— Why it Should Not be a Dirty Word in the Valuation of Physician Practices, and Mel H. Abraham, ASA with Make-Over or Do-Over? Your Practice Building Workshop.

Region 5 Governor Blake J. Runckel, ASA Representing ASA’s Business Valuation Department at NACVA

ASA was represented by Portland-based business valuation appraiser and Region 5 Governor Blake J. Runckel, ASA. Mr. Runckel supported ASA’s BV exhibition and recruitment efforts throughout the conference. His experience and background as a business valuer and chartered financial analyst helped provide valuable insight into the Society, BV Education, membership opportunities and Business Valuation Review publication for attendees.

International President, Linda B. Trugman, ASA Speaking at the European Valuation Conference

The American Society of Appraisers held its first European Valuation Conference on May 26, 2016 in Prague, Czech Republic. This conference was an important milestone not only in the history of ASA but also for the valuation industry in Europe.

Supported by an exceptionally strong roster of speakers, this conference represented a unique platform where investors, executives, regulators and valuation professionals discuss the current challenges of business valuation. Speakers and sessions included Roger J. Grabowski, FASA with New Developments in Cost of Capital: Beyond CAPM, APT and Black Scholes, Jan Marek, ASA with Implied ERP-Key Drivers, Misinterpretations, Mauro Bini with Comparison of Private Transactions and Publicly Traded Companies Multiples, Gustavo Tella with A Fundamental Approach to the Cost of Debt, Aswath Damodaran with Valuation: Six Lesson to Take Away!, and Mark Kantor with Ethical standards of Expert Witnesses.

The evening ended with a reception where attendees were given the opportunity to meet and network with prominent individuals in the field.

The American Society of Appraisers would like to thank our sponsors for their support. Thank you to Deloitte, S&P Global Market Intelligence, MiddleCap, EY, PwC, iiBV International Institute of Business Valuers, and Fakulta Sociálních Věd Univerzita Karlova

To view photos from this event click here.

This year’s 11th Annual Fair Value Conference took place on Wednesday, June 8th at the Radisson Hotel at USC. Hosted by the American Society of Appraisers’ and the University Of Southern California Leventhal School Of Accounting, this event featured important updates on fair value matters impacting financial reporting and their importance.

This event was an opportunity for attendees to obtain insight from various internationally recognized representatives on the needs of valuation in the development of audits and their fair value estimates. These insights could then become employed in a technical or business management practice setting. Topics and speakers included FASB Update on Fair Value Matters by Adam Kamhi, SEC Update by Kristopher Shirley, Transaction Due Diligence Considerations by Mike Kim and Razmik Libarian, Valuation Profession Initiative Update by Tony Aaron, Volatility Estimation and Measurement by Amanda Miller, Contingent Consideration Task Force Update by Alok Mahajan, PCAOB Update by George Wilfert, Pepperdine Capital Markets Survey Update by Craig Everett, Credit Value Adjustments by Anthony Law, and AICPA Fair Value Update by Mark Smith.

Each panel encouraged the audience to ask questions and to become engaged in their areas. In addition to the panels and lectures, attendees were able to enjoy exceptional networking opportunities from leading firms and top valuation boutiques. This event truly proved to be an extraordinary opportunity for all who attended.

Special thanks goes to our sponsors for making this event a great success.

The American Society of Appraisers recently held its 2016 5th Annual Equipment Valuation Conference on June 8-9 in Cleveland, Ohio at the Metropolitan at The 9.

Sponsored by ASA’s Machinery and Technical Specialties Committee, this annual event has grown to become the central source for the latest insight into the equipment valuation process. The welcome reception kicked off the event offering mouthwatering hors d’oeuvres, refreshing cocktails, and an abundance of networking opportunities at the Azure Sun Lounge.

On Wednesday morning, introductions and welcome remarks were made by the head event coordinator, Joseph M. Santora, ASA. Guest speakers provided insight of the industry and its trends. This year’s lineup included Jeffrey Dunn on Aircraft, David L. Helle, ASA on Bank Regulations, Mekael Teshome on Economic Outlook, Andy Decker on Forklift/Lift Truck, R. Lee Robinette, ASA on Ins and Outs of USPAP, Thomas M. Hazelhurst on Machine Tools, Mark A. Craig, ASA on Mining, Brad Hartsburg, ASA on Oil, Gas, and Fracking, Will Tefft and Kevin Sensenbrenner, ASA on Residual Setting, and Michael E. Winterfeld, ASA on Transportation. And as an added bonus, an offsite tour was offered for attendees of the Great Lakes Towing Company where they were able to gain a hands-on experience in appraising equipment.

The American Society of Appraisers would like to thank Taylor & Martin, Inc., Ritchie Bros. Auctioneers, Gordan Brothers Group, Irontrax, Equipment Leasing & Finance Association, Spencer Appraisal Associates, Exact Crane & Equipment Corp., Azure, and the MTS Journal for their support.

To view photos from the event chick here.

The exhibit entrance of the 2016 AAM MuseumExpo

Over 6,000 museum professionals attended this year’s American Alliance of Museum Annual Meeting and MuseumExpo. ASA was represented by Connecticut-based personal property appraiser John A. Wood, ASA, Maryland-based personal property appraiser Genice R. Lee, ASA, and Jennifer Schleining, Accreditation and Reaccreditation services specialist from ASA’s National Office.

The MuseumExpo brunch kicked off the event with live music, giveaways, and extensive networking opportunities. Attendees were then redirected to meeting areas where numerous seminars and demonstrations took place. Speakers ranging from political activists to creators of television programs gave more than 698 presentations during the conference. Robert M. Edsel, author of Monuments Men, was amongst the many memorable guest speakers that attended. In his segment he discussed the success of his novel and the impact it had on society. The novel acknowledges unidentified heroes who saved art and cultural treasures during World Word II and how they helped preserve it. He closed his segment by stating, “I challenge all of you to become advocates for the return of artworks to their rightful owner. We most honor those, both past and present, who safeguard our cultural heritage in times of war.”

More than 294 exhibitors from across the region, both new and seasoned, participated in AAM, many offering hands-on interactions with their products and services. Attendees were able to try virtual reality headsets or watch live art being created. Exhibitors received positive reviews from attendees, who said, “You can’t find this information anywhere else.” Others said, “This was the most successful conference by far.”

Jennifer Schleining speaks with AAM attendees about the “Find an Appraiser” tool

ASA volunteers and staff spent the majority of their time speaking to attendees about the criteria needed to become an appraiser, and the importance of having an accredited appraiser when valuing pieces. Our exhibit’s main attraction was the “Find an Appraiser” tool that is featured on ASA’s homepage. This tool, which is open to the public, can help anyone searching for an appraiser with ASA membership by discipline and location. Several museum professionals say that they inform the public about our tool and have redirected them to ASA. Users tell us, “We love your tool! It makes it easier for us to see which appraisers are in our area versus relying on an open search engine.”

The conference was a huge success—well-organized and filled with informative presentations and networking opportunities. One satisfied attendee put it best, saying, “Everything is evolving and we must evolve with it. This conference is a great way to find new resources to help you strategize on how to grow and compete.”

To view photos from the conference click here.

(Left to Right) ASA’s Accreditation & Reaccreditation Team: Megan Seid, Joy Brown and Jennifer Schleining

The American Society of Appraisers (ASA) confers two designations upon qualified candidates—the Accredited Member (AM) and the Accredited Senior Appraiser (ASA). Additionally, the Society also offers various specialty programs like Ad Valorem/Mass Appraisal, Aircraft, Appraisal Review & Management, Intangible Assets, Master Gemologist and others.

Keeping track of the thousands of individuals and their pursuit of these designations or specialties falls under the responsibility of ASA’s Accreditation & Reaccreditation Department. Each year the department generally receives, reviews and processes approximately 200 accreditation applications and over 500 reaccreditation applications, responds to 3,000 phone and 13,500 e-mail inquiries and updates more than 2,000 member records. The department also works closely with Society and local chapter event planners to ensure continuing education offerings are properly managed and recorded.

The department is currently comprised of three people: Joy Brown, Jennifer Schleining and Megan Seid:

Joy Brown presenting on ASA headquarters’ new zero-waste recycling program.

Joy Brown, Senior Manager, is responsible for the overall management of ASA’s accreditation and reaccreditation services as well as the processing of accreditation and reaccreditation applications for the Machinery & Technical Specialties and Appraisal Review & Management disciplines. Her dedication and commitment were recognized in 2015 with the bestowing of the Society’s Sylvia Wade Olson Award. She also was instrumental in launching a new zero-waste recycling program at ASA’s headquarters in Reston, VA. She has been with the Society for a full decade. Joy’s tenure, along with her educational background and 10 years of work experience provide her with an in-depth knowledge of the various complex systems and policies/procedures necessary to successfully run an international multidiscipline organization. She has a Bachelor of Arts degree in Psychology with an emphasis in Business and a minor in Merchandising from Marymount University where she graduated cum laude, and has spent her entire career with ASA. Joy may be reached at (703) 733-2134 or jbrown@appraisers.org.

Jennifer Schleining representing ASA at the 2016 American Alliance of Museums MuseumExpo.

Jennifer Schleining, Services Specialist, oversees all accreditation and reaccreditation services related to the Real Property and Personal Property disciplines. She also serves as staff liaison for the Personal Property Discipline Committee and recently assisted with sponsor procurement for the 2016 ASA Personal Property Annual Connoisseurship Conference and represented the Society at the 2016 American Alliance of Museums MuseumExpo. She has been with the Society for over two years. Jennifer’s educational background and 10 years of work experience are an excellent fit for her role and help her speak to and understand the unique needs of the professionals she engages with. She has a Bachelor of Arts degree in Art History with a minor in Classical Studies from the University of North Carolina at Greensboro, a Master of Arts degree in Curatorial Studies and Art in Contemporary Culture from Bard College, Center for Curatorial Studies and a Certificate in Meeting and Event Planning from the University of North Carolina at Charlotte, Continuing Education Department. Prior to ASA Jennifer worked as a membership director for The Charlotte Museum of History and in various fundraising and development positions for organizations including The Corcoran Gallery of Art, the National Association for Music Education (NAfME), Give a Note Foundation, Tudor Place Historic Home and Garden and The Madeira School. Jennifer may be reached at (703) 733-2117 or jschleining@appraisers.org.

Megan Seid representing ASA at the 2016 Heckerling Institute of Estate Planning Conference.

Megan Seid, Services Specialist, oversees all accreditation and reaccreditation services related to the Business Valuation & Gems & Jewelry disciplines. She has also represented the Society at various course sites, committee meetings and the 2016 Heckerling Institute of Estate Planning Conference. She has been with the Society for over two years. Megan’s educational background, technology expertise and 10 years of work experience enable her to respond quickly and accurately in her data-driven role. She has a Bachelor of Science degree in Communication with a minor degree in Marketing from Old Dominion University, along with an extensive technology training/usage in Aptify, Euclid Clear Vantage, SharePoint, Noah, Peachtree, Salesforce and others. Prior to ASA Megan worked as an assistant manager of continuing education for the Brick Industry Association and as a credentialing manager for the Board of Registered Polysomnographic Technologists. Megan may be reached at (703) 733-2122 or mseid@appraisers.org.

Together, these three individuals help grow and usher in a new generation of credentialed members and assist in the continued advancement of members and other allied professionals.

ASA’s Marine Survey is a three- day class which was designed for the nonmarine professional who wants basic knowledge of the industry, and for the marine professional who wants to learn more about the appraisal of yachts and commercial craft. ASA will be hosting this class on October 27-29, 2016 in Norfolk, VA. The class will be held at the Sheraton Norfolk Waterside.

Topics covered in the course include marine equipment; the marine industry and functions of marine surveyors and appraisers; the three approaches to value as they apply to commercial and yacht appraisal; identification of marine equipment and systems, both commercial and yacht; and following USPAP in report writing.

Topics covered in the course include marine equipment; the marine industry and functions of marine surveyors and appraisers; the three approaches to value as they apply to commercial and yacht appraisal; identification of marine equipment and systems, both commercial and yacht; and following USPAP in report writing.

The full class schedule includes:

DAY ONE
Introduction to commercial and pleasure craft marine assets; The functions of marine surveyors and marine appraisers; comparing and contrasting machinery and equipment and marine appraisers and their appraisals; purposes of marine appraisal and definitions used; the three approaches to value; valuation problems.

DAY TWO
The three approaches to value; valuation problems; detailed exploration of vessel types and systems; photo tour of vessel construction and vessel types.

DAY THREE
Off site- field trip; Marine data bases; information sources; sample reports/USPAP and marine appraisals; field safety; review; test.

The class is looking to include an off-site field trip to a commercial vessel. Past students who attended class had an offsite field trip to a fireboat vessel and have raved about it stating, “The fire boat tour was incredible! And essential for non-surveyors to have a better understanding of the course material.” These field trips are an important part of the learning process and help facilitate hands on learning. Norfolk offers a number of possibilities to be onboard a modern Z-drive ship docking tug.

This class has been held annually in locations around the nation including port cities such as Long Beach, CA; Baltimore, MD; New Orleans, LA; and internationally at locations such as Moscow, Russia; and Melbourne, Australia.

Norman F. Laskay, ASA

The instructor and developer of this course is Norman F. Laskay, ASA. 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.

To view past year’s photos of Marine Survey, click here and to view a past blog posts about this class click here.

To register for this class visit ASA Online.

Norfolk, VA is home to the largest Navy base in the world, Naval Station Norfolk and is the location of corporate headquarters Maersk Line, Limited, which manage the world’s largest fleet of US-flag vessels.

Norfolk International Airport is situated three miles northeast of the central business district of Norfolk and is a short plane ride many nearby cities such as Washington D.C.; New York; Charlotte, NC and many more.