The American Society
of Appraisers will be offering a new 1-day Fundamentals
of Jewelry Appraisal class designed to provide students an introduction
to the core competencies that every appraiser needs to know to accurately value
gems and jewelry for scheduled insurance coverage. Everything from ethics,
vocabulary, research and report writing is covered in the class. Video modules
will teach how to recognize manufacturing and stone setting techniques, judge
the quality of repairs, stone setting and overall workmanship, as well as
techniques to measure and grade mounted gems and diamonds.
Instruction for two classes will be provided by two ASA
Master Gemologist Appraisers® with over 3 decades of appraising experience: Mary B. Reich, G.G., FGA, ASA, MGA® and Mark T. Cartwright, G.G., ASA, MGA®.
Mary B. Reich, GG, FGA, ASA, MGA, is the Principal of
Gemologically Speaking in Albuquerque, NM. Mary has been working in the jewelry
industry since 1982, including work as a showroom manager for a wholesale
gemstone dealer, a manager or buyer for fine family-owned retail jewelry stores
and as an independent jewelry appraiser since 2007.
Mark T. Cartwright, G.G., ASA, CMA, ICGA, is the President
of Sapphire Sky, Inc. and director of The Gem Lab, ICGA in Fayetteville, Arkansas.
Mark has earned the highest appraisal designations of the American Society of
Appraisers, the International Society of Appraisers, the American gem Society,
and the National Association of Jewelry Appraisers. He began cutting gemstones
at age 12 and started crafting jewelry at age 20. Since 1981 he has at various
times owned a jewelry design studio, worked as an in-house jewelry designer and
has been an independent jewelry valuer since 2001.
ASA recently concluded its popular Fair Value Conference series for 2019 with a final stop in San Francisco, CA.
Held Tuesday, November 19 at the offices of KPMG San Francisco the event drew 86 participants and featured introductory remarks from ASA International President, Douglas Krieser, ASA CEO, Johnnie White and KPMG Alok Mahajan; 11 presentations from 19 thought leaders; Continental breakfasts, buffet lunch and networking hour. Local event organization and support was provided by Houlihan Lokey.
Attendees received continuing professional development credit for ASA reaccreditation, as well as CEIV(TM) CPD credit.
ASA’s Fair Value Conference series for 2020 will begin in New York City in the Spring, followed by Los Angeles in the Summer, and back to San Francisco in the Fall.
This past November I had the opportunity to travel to ASA’s educational partner, Embry-Riddle Aeronautical University (ERAU) in Daytona; the American Society of Association Executives (ASAE) in Baltimore; the Appraisers Association of America (AAA) conference in New York; Kansas City Metropolitan Chapter in Kansas City; the Appraisal Foundation Board of Trustees in Kansas City; Fair Value Conference in San Francisco; and the Los Angeles Chapter in Los Angeles.
It was great to meet with ASA members and strategic partners in Florida, Maryland, New York, Missouri and California. I look forward to meeting with more ASA chapter members and establishing stronger global partnerships with allied organizations.
Below is a brief summary of my travels excerpted from my Twitter feed. Follow me on Twitter @johnniewhiteCEO and LinkedIn: www.linkedin.com/in/johnnniewhiteceo for more ASA updates.
Visiting Embry-Riddle Aeronautical University (ERAU) in Daytona, FL:
I signed an agreement to expand our partnership with Embry-Riddle Aeronautical University to present education programs in China with AeroSustainable China Limited. Looking forward to the expansion.
American Society of Association Executives (ASAE) in Baltimore, MD:
Doug Krieser and I attended the ASAE CEO Symposium. A great program for the President and CEO to participate in to learn together how to elevate their knowledge in managing an Association.
Appraisers Association of America (AAA) conference in New York, NY:
It was great attending the Appraisers Association of America (AAA) conference in NY. Good seeing a number of our Personal Property members.
Kansas City Metropolitan Chapter in Kansas City, MO:
It is always great to visit our members in the chapters. John Russell and I provided presentations to the Kansas Chapter.
Appraisal Foundation Board of Trustees in Kansas City, MO
It is always great to see your staff participating in the industry. Hats off to John Russell for serving on the Appraisal Foundation Board.
Fair Value Conference in San Francisco, CA:
Informative presentations were given at our last Fair Value Conference for the year in SFO. Looking forward to the start of the series next year in NY.
Los Angeles Chapter in Los Angeles, CA:
It was great having the opportunity to participate in the ASA LA Chapter program and visit with the members with our International President Doug Krieser. They had some amazing speakers.
The American Society of Appraisers recently held Appraisal Review and Management classes at the Instituto de Administración y Avalúos de Bienes Nacionales (INDAABIN) in Mexico City, Mexico on behalf of the ASA Mexico Chapter.
The offering of the AR201 and AR204 classes were part of ASA’s Appraisal Review and Management Specialty Designation (ARM) Program, where currently active Accredited Senior Appraisers (ASA) in the BV, GJ, MTS, PP, and RP disciplines are eligible to earn an ARM designation. To learn more about this program, view ARM Program FAQs or Quick Guide to Accreditation. View upcoming ASA ARM classes.
ASA Chapter’s or other organizations/firms interested in hosting an ASA Onsite Course Program locally, may contact the Society’s Education Department at education@appraisers.org.
With the recent passing of a dynamic
individual, John Connolly III, ASA, we recognize the individuals, among the
many, who put the American Society of Appraisers in the lead as the most
influential and international multi-discipline appraisal organization.
John J. Connolly, ASA 1950-2019
John Connolly was an original and a passionate member of our current ASA-MTS discipline committee. John was a doer and a leader. A leader that propelled his presidency of the ASA and a two-term leader as MTS Chairman.
John was one of many of our members, from a second generation of ASA leaders, evolving from the lineage of American Society of Appraisers from the organization’s 1932 inception. Before MTS, as we know it now, machinery and technical appraisers usually came from engineering and business people who developed appraisal standards influenced by industrial casualty insurance writers. These founders whose passion for professional status came at the opportune time of another industrial revolution where, among others, steel mills, manufactures, machine shops, mining and processing industries needed capital, asset validation and insurance. Our profession progressed during and after World War II when machinery was paramount to civilization’s needs.
The MTS committee, as we know it today, began about 1984. I use that year because three years into the committee business we published APPRAISING MACHINERY AND EQUIPMENT, Sponsored by The American Society of Appraisers, John Alico, FASA, Editor. This first ASA M&E committee hard-back book, published through McGraw-Hill, was the seed for the following three and soon to be fourth, revision.
As initial Machinery and Equipment committee Chairman, I asked for and received volunteers to take on goals that we found wanting in the profession. John Connolly, among others in that initial committee, volunteered. He and his peers hung on to ideals that became the very strong ASA-MTS influence that it is today.
Also gone this year: Our first newsletter editor H. Denis Neumann, ASA, and influential members, Robert Podwalny, and FASA, Richard Kaufmann, FASA, are no longer with us but their influence instills the basic structure of our discipline.
The MTS discipline is made credible through the writing, teaching and influence of our profession. Most of this came through ASA members with personal sacrifice, monetary contributions, and long hours because they wanted to be part of the evolution.
While writing this, I studied the last three ASA MTS textbooks for contributors to the texts. The same names keep appearing along with new authors. I also looked at the current nineteen-member list of the ASA MTS Committee. Some of the early and continuing contributors appear, but I recognize that we are into the next generation of ASA-MTS influencers.
I would like to memorialize those, almost one-hundred, people, many no longer with us but not forgotten. And, I will touch on those members and contributors to our great profession at another time.
We are ingratiated to John Connolly, III, his
mentors and his peers for they are the same ASA members and supporters who have
helped us succeed.
Thank you to those who have left us this year
and God speed.
Alan C. Iannacito, FASA Littleton, Colorado
Editor’s note: Obituary: John J. Connolly, III, ASA, 1950-2019
John Joseph Connolly III, ASA, CMI, 69, a past International President of the American Society of Appraisers (ASA), passed away on November 5, 2019. Born in Hoboken, N.J. on November 4, 1950 and a resident of North Haledon, N.J. for the previous 42 years, he was a commercial equipment appraiser. Mr. Connolly was the owner of Connolly Consulting LLC in Glen Rock, N.J. and previously was the Vice President and Chief Financial Officer at Nationwide Consulting Company, Inc., in Glen Rock, N.J.
Mr. Connolly was an ASA accredited appraiser in the Machinery & Technical Specialties (MTS) and Real Property (RP) Disciplines. He joined ASA in 1975 and has held many leadership positions and participated actively over the years at the International level, within the MTS discipline, and in Northern New Jersey Chapter. Most notably Mr. Connolly served as International President (2002-2003); Regional Governor (1993-1996); Chair of the MTS Discipline Committee (2015-2017); and as ASA Northern New Jersey Chapter’s President (1986-1987).
Mr. Connolly was also an ASA instructor and taught many MTS courses in the United States and abroad. His most recent assignment overseas was in Slovenia, formerly Yugoslavia, at request of Slovenian Government to set up a MTS certification. He also taught courses in Mexico, England, Australia and Romania.
Mr. Connolly is the co-author of The Appraisal of Machinery and Equipment, 1988, and co-author Valuing Machinery and Equipment, 2000. He is the former editor of ASA’s Machinery and Equipment Newsletter, 1983-1985.
To read John J. Connolly’s obituary, please click here.
HOUSTON, TX–The American Society of
Appraisers (ASA) Houston Chapter
hosted a “Classic Car Appraising” presentation featuring Micheal (Woody) Wooding, owner
of the southwest Texas franchise of Auto Appraisal Network, on Nov. 7, 2019.
“The
topics we covered included the Classic, Collector and Exotic car appraisal
process and the nuances involved,” Wooding said. “Issues such as the difference
between perfect restorations and factory original cars. What is a Resto-mod and
why many owners today Resto-mod their cars instead of returning to a stock
configuration.”
left to right: David H. DuMay, ASA; Micheal (Woody) Wooding
“The
one topic that received the most interest was Diminished Value,” Wooding added.
“This is the difference in value of a vehicle before and after repaired
following an accident. I explained how the insurance companies calculate DV
versus the way we do. I also explained that Carfax can only display information
shared with them and does not have access to internal insurance company
information data bases. This prompted multiple questions from the 30 or so
members in attendance.”
An
expert in car appraising, Wooding he has been a lifelong auto enthusiast.
“I
am thoroughly versed in collector and muscle car history and values and
participate in events whenever possible. I have served as an Expert Witness in
auto-related cases and I am a regular guest on ESPN FM radio show known as In Wheel Time.”
To
find out about upcoming events at ASA’s Houston Chapter, please click here.
In the past 20 years, the Chinese art market has grown dramatically, tracking the expansion of the Chinese economy, which is now the world’s second largest. This webinar will provide an overview of the socio-economic forces behind its dramatic growth and headline making prices at auction, and the challenges of appraising and advising on Chinese art. According to Artprice, since 2006, China has consistently been in the top three global art markets and is the largest in Asia. Some sectors are booming with prices often wildly exceeding auction high estimates, while others have stayed the same or declined.
Drawing on more than 25 years in the field of Chinese art as
an art historian, educator and appraiser, Lydia Thompson,
Ph.D, ASA, the presenter, will address the following: the factors behind
the growth of certain sectors, the role of mainland Chinese collectors and
Chinese auction houses in driving the market, why the IRS will not accept realized
sales from Chinese auction houses, the industry of fakes and forgeries of
Chinese painting, sculpture, ceramics among other works of art and its impact
on the market.
Dr. Lydia Thompson, ASA, is an accredited appraiser in Asian Art, and authority on the art and archaeology of China. She has more than 25 years of experience as an art historian, curator and educator, and 12 years as an appraiser. Dr. Thompson has published scholarly and general interest articles and catalogs on Chinese art, archaeology, and the Chinese art market. She received fellowships for her research from The National Gallery of Art, Washington, D.C. and the Kress Foundation for Art History. Dr. Thompson has a B.A. in East Asian Studies from Middlebury College and an M.A. and Ph.D. in Art and Archaeology from New York University, Institute of Fine Arts. She is currently a principal of Thompson & Martinez Fine Art Appraisals, Inc. based in San Diego, CA.
Dr. Thompson agreed to answer a few questions about this exciting webinar.
ASA: What are some of
the challenges involved with appraising Chinese art and pitfalls to avoid?
Dr. Thompson: China has a sophisticated cultural tradition of art production going back 4,000 years, including calligraphy and painting, Buddhist art, bronze work, lacquer, stone carving, ivory, rhino horn, and jade sculpture, imperial porcelain and ceramics to name some of the more well-known categories. Because of this long and complex history and an art market awash with fakes, it is imperative to know who the experts and specialists are, and consult with them. An additional challenge is that best of the best are in China.
ASA: Are you seeing a growth in appraising opportunities in the Chinese art market?
Dr. Thompson: Yes, as descendants of original collectors get wind of the booming Chinese economy and art market, they realize that they should get those old paintings or dusty porcelains that their Great Grandfather got in China in the first half of the 20th century evaluated.
ASA: Are there issues
with fakes and forgeries of Chinese art?
Dr. Thompson: Yes, in almost every collecting category. Moreover the industry of fakes and forgeries in China goes back centuries. There is also a long-standing tradition of painters “working in the manner of” ancient masters, and artisans emulating artwork from imperial workshops down to adding the reign marks. Combine these traditions with a soaring art market, and the legion of highly skilled forgers working in China today, and you get an extremely challenging environment for specialists and non-specialists alike.
ASA: Why won’t the
IRS accept realized sales from Chinese auction houses?
Dr. Thompson: The IRS has stated that they do not have confidence in the “vetting practices” (verifying the authenticity of consigned artwork) of Chinese auction houses or in their post-sale publicly reported prices. Over the past decade there have been major problems with payment defaults (though Chinese auction houses have made an effort to address this) which make reported sales unreliable. Moreover, the art market in China is subject to manipulation by auction houses, sellers and buyers.
For more information and to register for “Introduction to
the Chinese Art Market, Challenges and Opportunities,” please click here.
This past October I had the opportunity to travel to ASA’s Houston Chapter; the IVSC AGM in Singapore; the Institution of Valuers in Delhi, India; the Insolvency and Bankruptcy Board of India; and the MBREA New England Appraisers Expo, Norwood, MA. It was great to meet with ASA members and strategic partners in Texas, Massachusetts, Singapore and India. I look forward to meeting with more ASA chapter members and establishing stronger global partnerships with allied organizations.
Below is a brief summary of my travels excerpted from my Twitter feed. Follow me on Twitter @johnniewhiteCEO and LinkedIn: www.linkedin.com/in/johnnniewhiteceo for more ASA updates.
Visiting
ASA’s Houston Chapter:
I had a great time with the ASA Houston Chapter. I met with a number of great members during a reception and luncheon. I was impressed by the great chapter leadership in Houston.
It was a great second day of IVSC meeting with international organizations that will continue to either expand or reinforce ASA global partnerships.
This IVSC meeting was the last meeting for the legend, Sir David Tweedie, as he is retiring. Sir David has done amazing job for IVSC and the profession. On behalf of ASA, we wish him the best in his next chapter.
Institution of Valuers, India:
I was invited to speak at the Institution of Valuers (IOV) in Delhi. It was great providing my presentation and perspective on the framework of the valuation profession.
It was great participating in the IOV conferences, where they had over 1,000 attendees. The valuers are very passionate about the profession in India. I am looking forward to building stronger relationships in the region.
It was great attending the MBREA New England Appraisers Expo in Norwood, MA. ASA staff member John Russell did an outstanding job as a speaker and moderator during the program.
Media Coverage in Property Management, Japan:
While Jeff Tarbell and I were in Tokyo in September we were interviewed by the publication Property Management, the most popular magazine for real estate management in Japan. The article provided a great summary of the ASA program and our relationship with the Japanese Society of Independent Appraisers (JaSIA).
ASA accredited appraiser Z. Christopher Mercer, FASA, CFA,
ABAR, Founder, CEO, Mercer Capital, is the featured expert on ASA’s debut “Stories of Value” podcast. Hosted
by John D. Russell, JD, ASA’s Senior Director of Government Relations and
Business Development, ASA’s new podcast series highlights remarkable stories
and exclusive conversations with industry leaders and valuation professionals.
Z. Christopher Mercer, FASA
In this first podcast episode, entitled: “Outside-the-Box Use of Your Appraisal Expertise,” Mercer shares his expertise on reverse engineering value to drive business value for clients. As a Business Valuation professional, Mercer discusses his take on ways to provide corporate finance principles to private companies, thus taking the lessons learned from the public companies area to a private company realm.
John D. Russell, JD, “Stories of Value” podcast host
“We’re trying to bring the discipline of corporate finance
over to the private company sector where corporate finance is something that’s
not often thought about,” said Mercer in the fascinating Q&A exchange with
Russell.
Listen to the podcast to hear examples that Mercer provides
that illustrate how basic valuation principles can be used to assist private companies
with liquidity.
“I think corporate finance is an excellent tool that
business appraisers can use to talk to business owners about their businesses,”
Mercer said.
To listen to the podcast, click here, or download the free Podbean app on your mobile device.
ROCHESTER, NY– American Society of Appraisers (ASA) Western
NY Chapter members volunteered at an Oct. 17 Foodlink event in Rochester, NY.
Based in Rochester, NY Foodlink is the Feeding America food bank serving neighboring
counties in that region.
“For more than 40 years, we have leveraged the power of food
to end hunger and build healthier communities. Through good stewardship,
innovation and collaboration, Foodlink mobilizes a diverse network of community
partners to eradicate both the symptoms and root causes of hunger,” according
to Foodlink’s website.
Approximately 20 people volunteered at the Foodlink event, including 4 ASA members and a number of potential ASA members, according to ASA Western NY Chapter Vice President Ivy P. Wan-Beltejar, ASA.
“Foodlink receives donations from local grocery stores and
other entities (primarily of things they cannot sell for whatever reason) and
re-distributes the items to those in need,” Wan-Beltejar said. ”For this
project, we sorted the donations into various categories. The sorted items
are then taken to the various community agencies and for distribution to
individuals.”
ASA’s Western NY Chapter has also participated in Habitat
for Humanity volunteer activities.
“We all enjoyed volunteering with Foodlink. It gave us a chance to catch up with each other and meet potential members. We will likely do a similar project next year,” Wan-Beltejar added.
