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The American Society of Appraisers had the pleasure of traveling to China as guests of the Shanghai BETTER Institute of Jewelry to offer appraisal training for gems and jewelry professionals. The collaboration with Shanghai BETTER Institute of Jewelry is part of the continuing effort by ASA to expand overseas and to provide the highest level of ethical, educational, and professional appraisal training worldwide. ASA had the opportunity to follow Theresa Brossmer, ASA, MGA, ARM-GJ and Mary B. Reich, ASA, MGA on their journey.

The course kicked off on Monday, September 19, 2016 with opening remarks and introductions. Mr. Qian, Chairman of the Shanghai Gem and Jade Association and former ASA-GJ216 student from the 2003 class in Beijing addressed the audience that included students, industry professionals and dignitaries.  With the help of a highly competent translator, the 22 students worked intensively throughout the 10 days to learn to develop and write gem and jewelry appraisals based on ASA standards. The curriculum included terminology, competency, due diligence, ASA gems & jewelry descriptive guidelines, research, analysis, record keeping, general appraisal procedures, and tips on the development of a professional jewelry appraisal practice. After completing ASA-GJ216 and successfully passing the final exam, students fulfilled ASA’s Principles of Valuation education requirements and gained a better understanding of the valuation theory that forms the basis for appraisal development and report writing.

Even though this was an intensive learning course, both instructors enjoyed the opportunity to experience the Chinese culture and get to know each of their students during their stay. Theresa Brossmer, ASA, MGA, ARM-GJ and Mary B. Reich, ASA, MGA sampled Chinese delicacies such as Peking duck and bullfrog in Sezchuan sauce and visited Chinese Cultural landmarks including The Forbidden City, The Bund, and many beautiful parks and museums. Throughout the course, break periods were set in place to help students relax and work on building their professional network with one another. When the course and exams were over celebrations took place and students were congratulated on becoming future jewelry appraisers.

We would like to thank Shanghai BETTER Institute of Jewelry for hosting ASA and this remarkable experience.

To view photos of the course click here.

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

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The American Society of Appraisers participated in the sold out 2016 Bombardier Business Aircraft Product Update and Valuation Seminar on October 3-5, 2016 in Montreal, Canada. ASA was delighted to share the stage with Bombardier Business Aircraft to provide insight on current landscapes of corporate aircraft appraisals and information on aviation financing.

The event kicked off Monday evening with a Welcome Reception for all participates. Tuesday was jam-pack with amazing session presented by knowledgeable ASA members. Sessions presented were ASA: Update and Appraisal Process by Richard Berkemeier, ASA and David Crick, ASA, Models for Diminution of Value Panel featuring Richard Berkemeier, ASA as the moderator, Appraisal Panel— Current Issue featuring Daniel Hall, ASA and Richard Berkemeier, ASA, and Practical Appraisal Aircraft by David Crick, ASA. A tour was offered by the Challenger Plant & Global Completion Center which gave attendees a visual and hands learning experience. The evening concluded with a phenomenal dinner reception provided by Le Richmond Griffintown.

We would like to thank Bombardier Business Aircraft for giving ASA the opportunity to participate in this spectacular event. For more information on upcoming events visit ASA online or call us at (800) 272-8258.

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The American Society of Appraisers hosted ASA’s Educational Foundation Auction on Monday, September 12, 2016 from 5:30-7:00pm at the Boca Raton Resort & Club in Boca Raton, FL. This ASAEF auction, which was held under the 2016 International Appraisers Conference and Advanced Business Valuation Conference, is the Foundation’s primary source of donations to fund grants for appraisal education. Attendees got the chance to enjoy exquisite cocktails and mouthwatering hors d’oeuvres while bidding on auction items. Displayed pieces included collectibles, trips, wine, food, books, and ASA Discipline Educational classes.

Throughout the evening attendees had the opportunity to network and meet others from different disciplinary areas while awaiting the results. By the end of the evening ballots came in and winners were announce on each of the auction items. This event became a huge success thanks to the donations and the contributions that were given to the Educational Foundation.

To view the photos of the Educational Foundation Auction Click Here or to view photos of the 2016 International Appraisers Conference and the Advanced Business Valuation Conference Click Here.

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

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The American Society of Appraisers recently held its annual 2016 Advanced Business Valuation Conference on September 11-14, 2016 in Boca Raton, Florida at the Boca Raton Resort & Club. BV presented the most comprehensive Business Valuation educational programing available, taught by the world’s top Business Valuation professionals. This three-day conference offered attendees with three distinct educational tracks with highly focused educational sessions in areas of business valuation, fair value and a variety of specialized topics. The 2016 Advanced BV Conference was held in conjunction with ASA’s 2016 International Appraisers Conference, which allowed a unique opportunity for attendees to expand their global professional network and interact with attendees and exhibitors. BV’16 kicked off Sunday night with the Welcome Reception, allowing attendees to chat and network amongst each other.

The conference began Monday morning with opening remarks and introductions made by ASA’s Chief Executive Officer Jim Hirt and Region 2 Governor, Mike Pratt, ASA. ASA’s International President, Susan Golashovsky, ASA, had the pleasure in welcoming honored guests, organizers, sponsors, and exhibitors that attended this year’s conference. The morning continued with knowledgeable speaker, Bernard Baumohl, as this year’s keynote speaker. Using real-world examples and stories, Mr. Baumohl illuminated every U.S. and foreign indicator that matters to appraisers. With his energetic delivery and personal observations, attendees received excellent insight that kicked off the start of breakout sessions.

The first round of sessions included enhanced multiple corporate valuation model by Rajiv Gokhale; public company valuation credential by William Johnston, ASA, Nancy Czaplinksi, ASA, and Michael DeLuke; valuing government contractors by Kimberly Randolph, ASA; insights & applications from investment banking by Michael Poole; and supporting clients through the audit of fair value measurement and disclosure by Martin Mazin. Monday afternoon consisted of 5 sessions discussing the absurdity of CAPM, value allocations in complex capital, new developments in cost of capital, the valuation of complex FLPs, and professional standards & regulatory update. These presentations were taught by Pablo Fernandez; Charles Higgins; Roger Grabowski, FASA; Bruce Johnson, ASA; Drew Dorweiler, AM; and Adam Smith, ASA.

The Educational Foundation Auction and President’s Networking Reception followed Monday’s educational classes in the evening. The silent auction was a huge success, thanks to the donations being given to the Educational Foundation, which included collectables, trips, wine, food, books, and classes. The auction and President’s Networking Reception concluded the first full day of the conference. Photos from the Educational Foundation Auction can be viewed here.

Tuesday began bright and early with The End of Valuation Discounts? IRS’s Proposed Section 2704 Rules by William Frazier, ASA and John Russell as well as ASA’s first ever Multi- Discipline Mock Trail taught by Peter Gladstone, Roger Durkin, FASA, Gary Trugman, ASA, Jack Beckwith, ASA, Charles Rosoff, ASA, William Wilson III, FASA, and David Wolf, ASA, MGA. Educational sessions followed soon after with topics ranging from adjusting leverages, what appraisers need to know before rendering a fair opinion, and the usage of statistics to quantify lost profit being presented by Pablo Fernandez; Sean Wee; and Michael Crain and Bill Kennedy.

After the Business Valuation Committee Update and lunch, more thought provoking sessions took place. These sessions included the variable WACC/Capital structure framework by John Taylor, ASA and Yuka Itami; valuation of customer related intangibles by PJ Patel, ASA; state private capital markets by Craig Everett; patent litigation by Robert Schweihs, ASA; the valuation of cannabis related entities and intellectual property rights by Ronald Seigneur, ASA; the impact of economic environment on business performance by Ashok Abbott; contingent consideration by Daniel Kahn; and the risks and rewards of using controlled premiums under the new MPAP guidance by Eric Nath, ASA. Tuesday evening, held the Women’s Networking Reception and ASA’s Rising Starts event. These receptions gave attendees the opportunity to meet and network with prominent women across all of ASA’s appraisal disciplines as well network with growing professionals in the appraisal industry.

Wednesday was the last day of the conference and included 9 educational sessions taught by 10 experts in the field. Topics of discussion included valuation of shares by Gilbert Matthews; in search of value by John Finnerty; common flaws in BV reports by Arlene Ashcraft, ASA and Trey Stevens, ASA; when an option is not an option by Robert Schweihs, ASA; valuing foreign acquisitions by Neil Beaton, ASA; incorporating S Corp research by Nancy Fannon, ASA; valuing sports franchises by Drew Dorweiler, AM; how to effectively review an appraisal report by Timothy Lee, ASA; and private equity/venture capital valuation practice guide by Raymond Rath, ASA.

Those unable to attend the conference in person were able to sign up and view key sessions from the conference via live streaming online.

ASA hosted three BV pre-conference educational courses in Boca Raton including a US015-BV – 15-Hour Uniform Standards for Professional Appraisal Practice (USPAP) for Business Valuation; BV202-OOO – Introduction to Business Valuation, Income Approach; BV204-OOO – Advanced Topics in Business Valuation; BV301-OOO – Valuation of Intangible Assets.

The American Society of Appraisers would like to thank HeliValue$, Inc.; Business Valuation Review; Sweeney & Bartlett; Crown of Light; Kersten’s Antiques; The M&TS Journal; Real Property E-Journal; Borrowman Baker LLC; NARMCO; GF Data; TagnFi; Cupitor; Appraisal Builder Pro; ASA PAC; International President and Conference Chair Susan Golashovsky, ASA; and the planning committee and advisors Matthew Kaufman, ASA; Gary Trugman, ASA; Juanita Addeo, ASA; Paul R. Cogley JR., ASA; Tom Simatos, ASA; Ronald Prat, ASA; and William Engel, ASA for all of their hard work and support. Photos from the 2016 Advanced Business Valuation Conference can be viewed here.

Save the Date! Make plans to attend the 2017 Advanced Business Valuation Conference at Houston, TX on October 7-10, 2017.

Thank you again to all of our sponsors for making ASA’s 2016 Advanced Business Valuation Conference a great success!

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The American Society of Appraisers recently held its annual 2016 International Appraisers Conference on September 11-14, 2016 in Boca Raton, Florida at the Boca Raton Resort & Club. In keeping the tradition of providing the highest-level of education for appraisal experts, this year’s IAC featured more than 40 sessions of the most comprehensive educational programming available taught by preeminent thought-leaders from all appraisal disciplines. IAC’16 kicked off Sunday night with the Welcome Reception, allowing attendees to chat and network amongst each other.

On Monday, September 12, ASA’s Chief Executive Officer Jim Hirt and ASA’s Region 2 Governor, Mike Pratt, ASA kicked off the joint conferences. ASA’s International President, Susan Golashovsky, ASA had the pleasure in welcoming honored guests, organizers, sponsors, and exhibitors that attended this year’s conference. The morning continued with knowledgeable speaker, Bernard Baumohl, as this year’s keynote speaker. Using real-world examples and stories, Mr. Baumohl illuminated every U.S. and foreign indicator that matters to appraisers. With his energetic delivery and personal observations, attendees received excellent insight to begin the day.

The first round of sessions included presentations on the evolution of the crown of light diamond by Tammy Cohen; the 600 MHzSpectrum auction by David H. Cole, ASA; navigation of legal and ethical issues by Jeffrey W. Brend, ASA and Lela Hersh, ASA; valuation methods for Ad Valorem by Lisa A. Hobart, ASA; and the best technical practices for completing business valuations by Raymond Rath, ASA. Educational sessions continued into the afternoon with topics on equipment values, perspective on vehicles, perspective on appraisal review, and continuations on the evolution of diamonds, and valuations on ad valorem being taught by Carl C. Chrappa, ASA, Edith Yeomans, FASA, Paul Golubovs, ASA, Tammy Cohn, and Lisa A. Hobart, ASA.

Lunch and the International Awards Presentation followed these education sessions. During the Awards Presentation, ASA members, volunteers, chapters, and staff were recognized and honored for their hard work and accomplishments throughout the year. Jan Marek, ASA won the Jerry F. Larkins Award in recognition of his exceptional volunteer service to and support of ASA, its members, its staff and the appraisal profession. Cinthia Giannakos of ASA headquarters staff won the Sylvia Wade Olson Award in recognition for her outstanding dedication and commitment to ASA and invaluable service to the appraisal profession. Chapter award winners included the Chicago Chapter for Best Outreach Program, the Europe Chapter for the Best Professional Education Program, Paul Roberts, ASA of the Northern New Jersey Chapter for Chapter Member of the Year, and the NorCal Chapter for Outstanding Chapter of the Year. To view list of winners, click here.

After lunch sessions highlighted topics on grading and evaluating diamonds by Elena Deljanin; keys to defensible reports by Richard Conti, ASA; diminution value panel by Deane Fehrman, FASA, James Polk, ASA , and Charles Rosoff, ASA; and the evolution of measurement standards by Ernest Demba, FASA. The remaining individual disciplinary sessions of the day included the international watch market by Scott Heisler, valuation of inventory by David Briguglio, AM, Cuba today by Patrick Ela, ASA and Tom Simatos, ASA, USPAP and litigation by Jay Fishman, FASA, and the continuation of the evolution of measurement standards by Ernest Demba, FASA. The last session of the day involved all disciplines, discussing the two most common standards of value which members in the appraisal profession are called upon to opine that was led by Richard Wise, FASA and Gilbert Matthews.

The Educational Foundation Auction and President’s Networking Reception followed Monday’s educational classes in the evening. The silent auction was an enormous success, thanks to the donations being given to the Educational Foundation, which included collectables, trips, wine, food, books, and classes. The auction and President’s Networking Reception concluded the first full day of the conference. Photos from the Educational Foundation Auction can be viewed here.

Tuesday was jammed packed with over 16 education sessions from more than 30 knowledgeable speakers teaching in the areas of Gems & Jewelry, Machinery & Technical Specialties, Person Property, Real Property, and Appraisal Review and Management. ASA took a different approach for the second keynote presentation by offering its first ever Multi- Discipline Mock Trail being taught by Peter Gladstone, Roger Durkin, FASA, Gary Trugman, ASA, Jack Beckwith, ASA, Charles Rosoff, ASA, William Wilson III, FASA, and David Wolf, ASA, MGA. Educational sessions followed soon after with topics ranging from the valuation of surgical centers by Doug Krieser, ASA, the overview of vintage travel trailer market by James Polk, ASA, the appraisal of golf courses by Lawrence Golicz, ASA, how to become an expert Gems and Jewelry witness by Peter Gladstone, and the appraiser as the witness from the courts perspective by Roger Durkin, FASA. Presentations continued on areas in gem mining, marketing, art, and appraisal issues by Sheahan Stephen; Mellanie Barlett and Debby Sweeney; David Eldridge, ASA, Leslie Fordham, and Tin Ly; and Terry Taylor.

Tuesday afternoon included the art in public places offsite tour which was open to all personal property appraisers. The tour featured several iconic art pieces around Broward County such as stainless steel sculptures, terrazzo artworks, and paintings. The remaining disciplines continued with extraordinary presentations on the ethical approach to handling your customers by Melinda Adducci; social networking by Garrett Schwartz, ASA and Jack Young, ASA; and Covering your Assets with a support work file by Barbara Minyard. Concluding sessions of the day featured ‘auction’ is it the best way? by Joseph DuMouchelle; analyzing depreciation by Joao Mynarski, ASA; Auditability verses Reviewability by George Dell, ASA; and the continuation of the covering your Assets with a support work file by Barbara Minyard.

The Women’s Networking Reception and ASA’s Rising Starts event was held Tuesday evening. These receptions gave attendees the opportunity to meet and network with prominent women across all of ASA’s appraisal disciplines as well as rising professionals in the appraisal industry.

Wednesday was the last day of the conference and consisted of over 10 educational sessions ranging from the masterpieces and inspirations of Gianmaria Buccellati by Larry French; the appraisal of firearms by Joseph Cornell, ASA; the language of a compliance consultant by Cheryl Bella and Ralph Griffin; the appraisal review in the banking and finance industry by Paul Cogley Jr., ASA; pearls by Eric Fritz and Claire Mitchell; business development by David Kinney, ASA; appraisals in a paperless office by Matt Kaufman, ASA and Jack Young, ASA; historic renovations of artwork by Paul Benson; and Miami-Dade county property appraiser’s office by Pedro Garcia and Lazaro Solis.

ASA hosted a series of pre-conference educational courses in Boca Raton prior to IAC2016. The given courses were BV202-OOO – Introduction to Business Valuation, Income Approach; BV204-OOO – Advanced Topics in Business Valuation; BV301-OOO – Valuation of Intangible Assets; ME202-OOO – Machinery and Equipment Valuation Methodology; ME204-OOO – Machinery and Equipment Valuation – Advanced Topics and Report Writing; US015-BV – 15-Hour Uniform Standards for Professional Appraisal Practice (USPAP) for Business Valuation; USP007-OPP – 7-Hour USPAP for Personal Property, Gems & Jewelry and Machinery & Technical Specialties; GJ207-OOO – Identification of Jade Treatments and Imitations, Quality and Value of Jade.

The American Society of Appraisers would like to thank HeliValue$, Inc.; Business Valuation Review; Sweeney & Bartlett; Crown of Light; Kersten’s Antiques; The M&TS Journal; Real Property E-Journal; Borrowman Baker LLC; NARMCO; GF Data; TagnFi; Cupitor; Appraisal Builder Pro; ASA PAC; International President and Conference Chair Susan Golashovsky, ASA; and the planning committee and advisors Matthew Kaufman, ASA; Gary Trugman, ASA; Juanita Addeo, ASA; Paul R. Cogley JR., ASA; Tom Simatos, ASA; Ronald Prat, ASA; and William Engel, ASA for all of their hard work and support. Photos from the 2016 International Appraisers Conference can be viewed here.

Save the Date! Make plans to attend the 2017 International Appraisers Conference at Houston, TX on October 7-10, 2017.

Thank you again to all of our sponsors for making ASA’s 2016 International Appraisers Conference a great success!

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ASA’s Indiana Chapter is delighted to announce the offering of the Fall Panel Program for all Midwest Appraisers in Business Valuation, Machinery & Equipment, Real Property and Personal Property being held on Thursday, September 29, 2016 at the Meridian Hills Country Club. This panel is complimentary to all ASA members and is open to all non-members, at a small price, from 4pm-6pm eastern time. In this session, Stanley J. LaBuz, an Indianapolis IRS Appeals Officer, and Brett Miller, a tax attorney for Bingham Greenebaum Doll LLP, will discuss the tax ramifications of charitable gifts. LaBuz plays a key role in the program by giving IRS point of view on the matter while Miller focuses on both federal and state tax law engagements. In that capacity, both are responsible for representing the Internal Revenue Service before the United States Tax Court and other state and federal courts. Appraisal Panel members also include Christopher Hirschfeld, ASA, Senior Manager, Somerset Financial, ASA President, Indiana and Robert Schlegel, FASA, Houlihan Valuation, ASA International President Emeritus.

For more information on upcoming ASA Chapter events visit us at ASA Online or call us at (800) 272-8258.

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On August 28-31, 2016, the American Society of Appraisers participated at the 82st Annual Conference on Assessment Administration in Tampa, Florida. This three-day event, hosted by the International Association of Assessing Officers (IAAO), brought over 1,200 administrators and decisions makers from across the world in order to give an extraordinary experience. This conference offered eight in-depth educational tracks which included Commercial, Residential, Legal and Legislative, Management and Professional Development, Technology Trends and Tools, Special Issues, and Education in Action and Mass Appraisal. ASA was fortunate enough to be represented by skilled real property appraisers Mike Pratt, ASA and Ronald Prat, ASA.

ASA’s booth generated a tremendous amount of traffic and interest in the society’s Ad Valorem/Mass Appraisal specialty designations. Mike and Ronald gave way ASA handouts/brochures and promotional items, and informed attendees about the Society’s Real Property Discipline’s educational and accreditation programs. The purpose in attending this event was to promote the Society’s Ad Valorem/Mass Appraisal designation program and the reciprocity with other private professional organizations in an effort to bolster membership.

For more information about Ad Valorem/Mass Appraisal specialty designations, visit ASA online, call (800) 272-8258.

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Editor’s Note: ASA’s New York City Chapter hosted an ASA Rising Stars Networking Event on Thursday, September 15, 2016 at the Connolly’s Pub in New York, NY. This event offered networking opportunities and a live broadcast of the Buffalo Bills vs. New York Jets football game. We got the opportunity to speak with Nicholas Tzoumas, ASA from Marshall & Stevens, Incorporated, one of the events’ hosts, to get the full scoop.

Why did your chapter create this event?
This idea was driven by National’s initiative to attract a younger membership to the local chapters as well as the organization as a whole. Our goal was to reach out and connect with individuals who are ASA member as well as individuals who may not be as familiar with the organization but are interested in learning more in an informal setting. We thought that this was a great way of introducing them to the organization and showing them what we are doing in the New York City Chapter.

Can you give us a brief summary?
The event was setup cocktail style with high-top tables, open floorplans in a private area of the pub. We offered typical food served at a football game watch including mozzarella sticks, chicken wings, chicken fingers, etc. Everyone wore a name badge and networked with each other through the duration (even after) the event.  Other New York City Chapter officers and I tried to facilitate as many conversations as possible but in reality the room seemed to be flowing the entire evening without us getting involved.

Are you able to say that you hit the demographic you were hoping for?
I am very happy to say that we definitely reached our target audience. Looking at our attendance list about half were not part of the ASA organization and those who were members about 30 percent did not have the designation. It ranged from all ages but I would say about 90 percent were under the age of 40. This was by far one of the best attended events in recent years for the New York City Chapter.

 

Does your chapter plan on hosting these types of events in the near future?
We are certainly planning to host one Rising Stars event a year. From the feedback we received from our attendees, they liked the idea of not having an educational component. They enjoyed the relaxed and casual atmosphere which they felt allowed them to meet other people in the profession. In the future we hope to hold this type of event in the beginning and towards the end of the year.

ASA congratulates the New York City Chapter for their hard work in hosting this marvelous event. For more information on upcoming events visit ASA Online or call us at (800) 272-8258.

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The American Society of Appraisers is set to provide the first half of the Society’s popular Principles of Valuation four course series onsite for DLL Financial Services on November 7-12, 2016 in Eindhoven, Netherlands.

ME201-OOO – Introduction to Machinery and Equipment Valuation, is an introduction to appraisal terminology and concepts providing students with a solid foundation in appraisal of machinery and equipment. This course covers machinery and equipment appraisal terminology; functions and purposes of appraisals; introduction of the three approaches to value; depreciation and factors affecting depreciation; field inspection techniques and safety; introduction to the issues of indexes in machinery and equipment appraising; basic pricing exercises for current and obsolete assets; and ethics and professional standards.

ME202-OOO – Machinery and Equipment Valuation Methodology, explores in depth the ideas introduced in ME201 and provides students with a better understanding of the types of value commonly used in the appraisal of machinery and equipment. This course addresses the issues of price vs. value, indirect costs, use of and development of indexes, age-life concepts, recommended rounding of figures, types of values for machinery and equipment appraisals, reproduction cost new, replacement cost new, replacement cost depreciated, fair market value in use, orderly liquidation value, forced liquidation value and supporting conclusions for various purposes.

The two classes are expected to draw students from not only the Netherlands, but also from other countries like Australia, Brazil, Germany, Sweden and the United Kingdom. Instruction will be provided by Richard A. Berkemeier, ASA. Mr. Berkemeier, who serves as the Society’s Machinery & Equipment Discipline Education Chair, is an independent senior asset management professional offering more than 20 years of appraisal experience within the capital markets, including risk management, inventory assessment, appraisal review, liquidation expertise, debtor-in-possession financing and collateral management.

The ASA Philadelphia Chapter is co-sponsoring with DLL on these course offerings. Tuition is $2,400 USD ($1,200 USD/per course), which includes all course materials and can be paid online with a major credit card or by PayPal through the Philadelphia Chapter website. If you have any questions, please contact Richard Jordan, ASA, 610-386-3421 or at rjordan@leasedirect.com.

DLL Financial Services is a global provider of asset-based financial solutions in the Agriculture, Food, Healthcare, Clean Technology, Automotive, Transportation, Construction, Industrial and Office Technology industries. DLL collaborates with equipment manufacturers, dealers and distributors in more than 35 countries. Offerings include vendor finance, commercial finance, life cycle asset management, consumer finance, leasing and factoring. DLL is a wholly owned subsidiary of Rabobank Group.

For more information about ASA’s Onsite Course Program, visit ASA online, call +1 (703) 478-2228 or e-mail, asainfo@appraisers.org.

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Editor’s Note: Embry-Riddle Aeronautical University (ERAU) has signed an agreement with the American Society of Appraisers (ASA) to be the sole provider for three years of required coursework for professional aircraft appraisers to apply for worldwide accreditation. As part of the agreement, Embry-Riddle will develop and update four courses in coordination with ASA materials, composed of 30 hours. Starting off the course series is the Introduction to Machinery and Equipment Valuation (Aviation Specific) to be held on Thursday, October 27-Sunday, October 30, 2016 at Embry-Riddle Aeronautical University Campus in Daytona Beach, FL. ASA sat down with Dr. Michael Williams, Dr. Sunder Raghavan, ASA, Dr. Vitaly Guzhva, ASA, David Crick, ASA, and Richard Berkemeier, ASA to get the inside scoop.

What are your thoughts on the ASA/Embry-Riddle education program being held on the campus of Embry-Riddle?
Dr. Michael Williams: Aerospace is a very complex industry that requires both the practical and theoretical aspects. Fortunately for us our faculty, through the training of ASA, are able to bring these two criteria together to help our academic efforts. Partnering with ASA, who hold outstanding instructors assisting us, is the perfect thing to do.

What does Embry-Riddle bring to the table in terms of appraisal education?
Dr. Sunder Raghavan, ASA: Embry-Riddle is ranked number one in aviation aerospace. The idea of having this course in an educational institution, which has access to flight lines, helps students gain practical experience. Students will be able to explore the aircraft, examine them, and gain a sense on how to appraise it. Embry-Riddle has a great flight department that organizes tours for students when they first enter into the program. This gives their education value by not only giving them a physical idea on how to approach an appraisal but also a practical sense on what the aircraft are.

What can students expect when taking this Embry-Riddle course (Introduction to Machinery and Equipment Valuation- Aviation Specific) and what can students expect for future Embry-Riddle courses?
Dr. Vitaly Guzhva, ASA: This is an introductory course that shows you the basics of aircraft appraisals. Our expectations are to give students a combined academic and practical approach in each of our courses. Student will be able to look forward to a variety of guest speakers related to aircraft appraisals as well as field trips on and off campus.

Are the ASA/Embry-Riddle classes respected globally?
David Crick, ASA: A number of students have been involved with Embry-Riddle prior to this program. The cross section of international students is mandatory for this industry because there is a significant portion of aviation assets that are located around the world. It is important to have international appraisers that are outside of the United States that understand the methodology and the process of appraising aircraft. By having both ASA’s and Embry-Riddle’s methodologies, it allows appraisers to expand on different areas rather than being limited to what they know.

As ASA’s Machinery and Technical Specialties education chair, instructor, and course developer how is the program going?
Richard Berkemeier, ASA: ASA has taught these courses with Embry-Riddle from around the globe including Europe, Australia and the United States. The program is recognized as the gold standard for aircraft appraisal education that hold the best and the brightest. Students include banks, leasing companies, insurance companies, appraisal firms, and Embry-Riddle students. Not only is this a world class appraisal education with a global student body, it sets the gold standard for Appraisal Education. Great instructors, speakers, facility, tours are all on the Daytona Beach Embry Riddle Campus.

More exciting and informative sessions are offered at Embry-Riddle throughout the year. Jeffrey Dunn will give you an up close and intimate view of the industry from a banking perspective with the Ups and Downs of Business Aviation. Paul Cardarelli will speak on the state of the aviation market as observed by JETNET iQ.

The American Society of Appraisers would like to thank all those who have contributed to these growing programs and to the advanced of aviation education.

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Dr. Michael Williams is Dean of the College of Business and Professor of Information Systems at Embry-Riddle.  He has a PhD in Computer Technology and is a certificated Airframe and Powerplant (A&P) technician.  His academic areas of expertise include information systems, radio frequency identification (RFID), electronic commerce, intermodal transportation and aviation maintenance management.

 

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Dr. Sunder Raghavan, ASA started his career by receiving his PhD at Washington State University in Finance and Economics. He later joined Embry-Riddle 15 years ago focusing his research on airline mergers & acquisitions and aircraft leasing. He is currently a Seno Professor of Finance and Master of Science in Aviation Finance (MSAF program coordinator. In collaboration with the International Society of Transport Aircraft Trading (ISTAT), whose members are involved in operating, manufacturing, maintaining, selling, purchasing, financing, leasing, appraising, insuring or other activities related to the commercial aviation sector, he has been expanding the aviation finance and leasing programs.

 

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Dr. Vitaly Guzhva, ASA is a Professor of Finance at Embry-Riddle Aeronautical University.  As a corporate pilot, researcher, and educator Dr. Guzhva has over 20 years of experience in aviation, including providing opinions of value for aircraft and components of aviation infrastructure.

 

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David Crick, ASA has over 20 years of specialized valuation experience in many different sectors with considerable knowledge of corporate valuation requirements for mortgage security assessments, litigation support & liquidation disposals, which he regularly uses for fixed-wing and rotary-wing aircraft valuations in many different international jurisdictions.

 

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Richard Berkemeier, ASA is a senior asset management professional offering more than 20 years of appraisal experience within the capital markets, including risk management, inventory assessment, appraisal review, liquidation expertise, debtor-in-possession financing, and collateral management.

 

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Jeffrey Dunn 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).

 

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Paul Cardarelli is part of the very foundation that built and supports JETNET.  He has been with the company from its inception in 1988 when he began his career working in the Research Department.  There he gained his knowledge of the business aircraft sales trade and the market in which occurs.  In 1994 he was promoted to Sales Director, and today manages a staff of thirteen with responsibility for all JETNET subscription sales worldwide.

 

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For more information about the ASA/Embry-Riddle aircraft appraisal education program, visit ASA online, call (800) 272-8258 or e-mail asainfo@appraisers.org.