Friday, January 29, 2016

Make Your Nominations for 2016 ISA Awards

By Christine Vincent, ISA AM, Awards Committee Chair

Assets 2016and the welcoming heat of the Texas sunwill be here sooner than we think, but right now it’s January and for many of us that means cold! Winter storms and frigid weather are being predicted for most of the countrythe perfect time to hunker down and curl up with a good book.

Well…think again, dear colleagues!
   
Now is the perfect time to send in your nominations for the 2016 ISA Awards! As you huddle beneath your blanket for warmth, take some time to reflect on the effort, dedication and contributions that so many of your ISA colleagues have made, not only for the advancement of the ISA and the appraisal profession but for each of us as individual appraisers as well. 

COULD THERE BE UNSUNG HEROES AMONG US?
Is there someone who deserves recognition but flies under the radar? Is there a fellow appraiser who has generously or consistently provided you with assistance? Is there someone new to the group whose enthusiasm and efforts should be honored and encouraged? Is your ISA Chapter growing in numbers or deeds? We want to hear from you and celebrate the achievements and spirit of these very special people…our colleagues, our friends.  

These deserving individuals and chapters will be honored during our April 15-18 conference in Dallas-Fort Worth.      

This year we are taking award nominations based on eight categories:

International Society of Appraisers 2016 Award Categories
  • Lamp of Knowledge
  • Leadership
  • Rising Leader
  • Distinguished Service
  • Chapter of the Year
  • Publication/Media/Marketing
  • Special Merit
  • Service
Please take a look at the 2016 Award Nomination Form for descriptions of the award categories and requirements for each nomination.

I thank you so much for taking the time to consider those colleagues deserving of honor and recognition! Completed Award Nomination Forms must be submitted using the online form by Friday, March 4. If you have any questions, please contact me via email at bridgesomc21@gmail.com.

Wednesday, January 20, 2016

If You Love Art, You Will Love Dallas-Fort Worth for Assets 2016!

By Kim Kolker, ISA AM
As chair of ISA's Fine Art Committee, I have been very involved in planning our great specialty tours for Assets 2016. Here are my top 10 reasons to join us at Assets 2016, April 15-18.

10. THE SPECIALTY TOURS
It isn't often you get to just show up and enjoy the ride, but this is one of them! Our Assets 2016 tour for Fine Art appraisers includes The Nasher Collection at North Park Center, the Dallas Museum of Art, The Dallas Art Fair, and a self-guided tour at The Nasher Sculpture Center.

Antiques and Residential Contents appraisers will tour Pittet Architecturals, The Trammel Crow Asian Art Museum, and The Dallas Museum of Art’s Decorative Arts and Modernist collection.

Both tour groups will have the opportunity to self-tour the Nasher Sculpture Center.

9. MICHELANGELO
Kimbell Art Museum
In 2009, the Kimbell Art Museum acquired a terrifying Michelangelo painting titled "The Torment of Saint Anthony," believed to be created when Michelangelo was 12 or 13 years old. According to Kimbellart.org, "…[T]his work is the first painting by Michelangelo Buonarroti (1475–1564) to enter an American collection, and one of only four known easel paintings generally believed to come from his hand." While
there, step around the corner to see Caravaggio’s famous "The Cardsharps." The Kimbell Museum is approximately two miles walking distance from our conference hotel.

8. Richard Serra’s "VORTEX"
"Vortex" at The Modern
After you’ve had a nice visit at the Kimbell, walk across the street to the Modern Art Museum. On your way there, stop at Serra’s 67-foot tall "Vortex," go inside, and YELL. Yes, that’s right. This is a great time to let off steam by stomping your feet and hitting the walls too. The structure will echo your delight or pathos with equal vigor and resonance. The Modern is approximately two miles from the conference hotel.

Amon Carter Museum, exterior
7. AMON CARTER
Amon G. Carter has quite a reputation in Fort Worth, and Texas as a whole. He was friends with Will Rogers, and an avid collector of Remington and Russell. You’ll find evidence of these relationships as you walk outside the Modern. Straight ahead is the art deco building—The Will Rogers Colliseum. To your right, behind the Kimbell Museum, is the Amon Carter Museum (ACM). The Amon Carter Museum features an extensive collection of paintings, works on paper and bronzes by Remington and Russell, as well as an exceptional collection of 19th and 20th century American paintings, sculptures and works on paper. The ACM is one of the top American art museums in the country. Located across the street from the Modern and Kimbell, it is also approximately two miles from the conference hotel.
Amon Carter Museum, interior

6. FREDERIC EDWIN CHURCH
The Dallas Museum of Art is proud of "The Icebergs," a 64 ½ x 112 ½ inch oil on canvas, and for good reason. It’s simply beautiful. While you’re there, make at least a second stop at the Wendy & Emery Reves Collection of fine and decorative arts. A 16,500 square foot recreation of their villa in the south of France features both their fine furnishings and paintings from the late 1800s—including Pissarro, Bonnard, Cezanne, Courbet, Manet, Monet, etc. Note: The collection does rotate. You can visit this museum if you sign up for the Fine Art Tour on April 15.

5. HIDDEN TREASURES FROM SPAIN
Venture onto the Southern Methodist University Campus in Dallas for the wonderful collection of Spanish art held at The Meadows Museum. The strength of both their exhibitions and permanent collection is a tribute to its founder, Mr. Algur H. Meadows, who is quoted on the museum website: "Yes, I mean as I said originally, to build a small Prado in Texas." This is a great gem in the metroplex.

Jonathan Borofsky (American, born 1942)
Five Hammering Men, 1982 Painted Wood with Steel, Aluminum, Foan,
Bondo and Electric Motors Each 175 x 6 inches
Nancy A. Nasher and David J. Haemisegger Collection,
North Park Center, Dallas, Texas

4. EXERCISE, SHOP AND DINE—SURROUNDED BY GREAT ART
Opened by Patsy and Raymond Nasher in 1965, and holding an incredible collection of 20th and 21st Century fine art inside and out, North Park Center in Dallas opens early every-day for "mall walkers," those so inclined to walk at 6:00 a.m. An interesting mixture of top retailers interspersed with carefully curated artworks and planted gardens, this mall is still run by Nancy A. Nasher and her husband David J. Haemisegger. Artists in the collection include Borofsky, Rosenquist, Warhol, Lichtenstein, Dine, Stella, etc. Nothing this mall offers is second-rate.

3. NASHER SCULPTURE CENTER
Dallas fought hard to get Mr. Nasher to keep his modern sculpture collection in Dallas. And we’re lucky we won out. The collection sits inside and outside, complemented by large magnolia trees and Renzo Piano’s building that houses it. Be prepared to find art that is sure to both confront your expectations and make you smile.

2. THE CROW COLLECTION OF ASIAN ART
When you leave the Nasher Sculpture, walk straight across the street, and you’ll find the Crow Collection. It’s hard to miss the peaceful image of the Ming Dynasty Chinese bronze statue at the center of a fountain. This unique multi-tiered building houses a collection from China, Japan, India, Korea and Southeastern Asia, spanning from historical objects to contemporary pieces.

1. COWBOY BOOTS
Texas has many cultures, landscapes and peoples. We have great art, and we also have a "cowboy culture," from the Dallas Cowboys Football team to numerous references to the historical cowboy of the West. Having said that, while you are here in Texas, be sure to buy yourself some "sh__ kicking" boots in the historical Fort Worth Stockyards. You’ll have them the next time someone asks you to authenticate the Pollock they bought at the Salvation Army. The stockyards are 3.5 miles from the conference hotel.


S—t Kicking Boots from Leddy’s
(where all self-respecting cowpokes shop for custom fit boots)

GETTING AROUND TO SEE ALL THE GREAT ART:

Taxis
Consult with the Hilton Hotel Concierge for taxi service in Fort Worth or to the airport. To get outside of the Sundance Square area in Fort Worth, I would recommend using Uber, rather than taxis. Uber can be easily signed up for via an app on your smart phone (see note below). Most people drive in DFW, and the available taxi service is typically slower and more expensive.

Train Service to Dallas from Hilton Hotel
Take the TRE train to Dallas; the Trinity Railway Express stop is within walking distance of the hotel. For more information and schedules, go to their website.

Once in Dallas, get off the train at Union Station. Once there, use Uber or a taxi to take you the short ride to the arts district (a few miles away), North Park Center or The Meadows Museum. The Dallas Arts District contains the Dallas Museum of Art, The Nasher Sculpture Center, The Asian Art Museum, and Klyde Warren Park, among others.

PLEASE NOTE ABOUT THE TRAIN TO DALLAS: Trains operate Monday through Saturday. No scheduled service on Sunday. The T & P station and the ITC stations are located ½ mile from the hotel in different parts of downtown Fort Worth. The train ride to Dallas takes about one hour.

Uber.com car services
Using Uber.com is an easy and inexpensive way to get around where you need to, whether that be in Fort Worth or Dallas. Create an account with Uber and download their app on your phone. Whenever you need a ride, you can use Uber to pick you up fairly quickly. They also offer different price points for larger or more economical cars.

JOIN YOUR COLLEAGUES AT ASSETS 2016

I hope something piqued your interest on my top-10 list! If you haven’t already, be sure to register soon for Assets 2016.

Thursday, January 14, 2016

New ISA Members

The ISA is proud to introduce you to our newest members (through December 2015). Please join us in welcoming them to the Society!
Marie Brown
San Antonio, TX
Angelica Chapman
Houston, TX
Noralen Curl
Meadville, PA
Ellen Galeski
Oxnard, CA
Heather Gokhman
Corona Del Mar, CA
Lauren Graber
Los Angeles, CA
Courtney Huber
Amelia, OH
Shelly Lane
Seattle, WA
Kris Lee
Batu Feringghi, Penang
Laura Maccarthy
McLean, VA
Ronnie Pirovino
Sandy, UT
Jennifer Rowe
Regina, SK
Sophia Shung
Tanjung Bungah, Penang
Jan Teo
Santa Monica, CA
Julie Torchia
Lahaina, HI

Friday, January 8, 2016

About Restricted Appraisal Reports

ISA members are invited to send in their questions on all things appraising and education to Leon Castner, ISA CAPP. Leon will share his answers on the ISA Now Blog. Please send questions to leoncastner@comcast.net.

The content of a Restricted Appraisal Report must be consistent with the intended use of an appraisal and is allowed when there are no other intended users aside from the client, i.e. no third parties. This immediately precludes appraisals for the intended use of IRS filing (estate, donation, gift tax, casualty loss), insurance coverage or claims, equitable distribution (divorce, dissolution of partnership, estate division), and litigation.

Two of the few instances where a restricted report is possible are for re-sale or for a client’s own knowledge. In these instances, and in a few others, the appraiser and the client have established in their initial agreement that the intended use does not include a third party and that the tentative scope of work has been sufficiently established to satisfy the needs of the client.

The transmission of the results still follows report guidelines. Each element of an ISA report checklist must be present. There are no short cuts. However, the amount of detail and explanation in a Restricted Report can be limited. Some elements in the report only require a simple statement, not a full summarization or explanation as required in the Appraisal Report. This fulfills the client’s needs and somewhat shortens the narrative.

The Restricted Report contains something the Appraisal Report does not: a prominent use restriction that limits the use of the report to the client only. It also warns the client that the rationale for how the appraiser arrived at the opinions and conclusions set forth in the report may not be understood properly without additional information that has been kept in the workfile. In other words, it raises a red flag alerting or reminding the client that this report was done under restriction. It reinforces the fact that the client can’t alter the assignment and now use the report for another intended use.

This provides a level of security for the appraiser and ensures that the appraisal will not be misunderstood. A suggested statement would be the following: This appraisal is a Restricted Appraisal Report as defined by the 2016-2017 USPAP. It limits the report to the client only and may not be used by any third party. The rationale for how this appraiser arrived at the opinions and value conclusions set forth may not be understood properly without additional information in my workfile.

Wednesday, January 6, 2016

A Message from Your 2016 President

By Christine Guernsey, ISA CAPP

At the end of every year, it is wise to reflect on where one has been, what one has accomplished and what one plans for the upcoming year. This sage advice was given to me years ago and works well for one’s personal, professional and organizational lives. When I remember the state of ISA when I joined years ago and contemplate the accomplishments our organization has made since, I am reminded as to why I am so extremely proud to be a member of this organization. I understand why ISA has become the premier professional personal property appraisal organization of choice.

The International Society of Appraisers continues to be the largest professional appraisal organization that consists solely of qualified and credentialed personal property appraisers. Our membership continues to grow with new talent coming from auction houses, galleries, museums and other appraisal-related industries. Our unparalleled methodology, pathway courses, Learning Management Systemwhich allows students to learn online from anywhere in the worldour requalification program, and our culture of camaraderie all continue to gain ISA high industry respect. Our increasing ISA brand recognition with top insurance, estate, law and banking industry professionals, along with our now mobile-enhanced ISA website (including the Find An ISA Member feature) continually help to drive new appraisal assignments to our members.

In this past year, ISA leadership, led by our immediate past President Cindy Charleston-Rosenberg, ISA CAPP, our staff at Sentergroup and many of our dedicated ISA volunteers have listened to their fellow members and have been responsive to their requests and needs. As a result, hundreds of volunteer hours have been spent this last year developing new programs that will directly benefit our members in 2016.
Here are some highlights of those efforts:

  • 2015 brought a focus on advancing the ISA brand through strategic partnerships with allied industries to bring recognition and value to our members. The reciprocal webinar series developed with Chubb Personal Insurance, Changing Demographics in Collecting: Covering Passion and Investment Collections, presented by Laura M. Doyle and Melissa Lalka, provided our members with one of our most successful and highly attended webinars. In return, ISA is currently in the process of developing an 11-part series focusing on the connoisseurship of ISA appraisers and collectible assets, to be presented to Chubb’s worldwide network of brokers, agents and collectors. This exchangeable concept, which will build ISA’s relationships with the “gatekeepers of appraisal-related services and referrers of assignments” will continue in 2016 with many more allied industry leaders.
  • In an effort to better address the needs of our students and instructors, provide a forum for instructors to exchange ideas, and encourage the development of new courses in our educational offerings, we formed the ISA Instructor Committee. Already, exciting advancements have resulted from exchanges between this committee and the Board. We established a new requirement that ISA CAPP candidates submit a Broad Evidence appraisal report, in addition to passing our rigorous five-hour comprehensive examination in advanced appraisal methodology, practice and ethics. New courses have been added to our curriculum including Asian paintings, screens and ceramic courses; modernism courses featuring design, furniture, decorative arts, prints, multiples and photographs; along with an antiques and residential contents course to be taught in Toronto. There are also more options for taking the USPAP and requalification courses.
  • The formation of the Circle of Trust (COT), an alliance between the main appraisal societies (ISA, AAA and ASA) deepened throughout 2015. The mission of the COT is to raise public and industry awareness of personal property appraisal credentialing and to create a demand for qualified personal property appraisers. COT attempts to protect the public from individuals who may be operating with bias, without proper training and who compete unfairly with our qualified appraisers. Press releases went out in November announcing this collaboration and have been picked up by the press as well as promoted throughout social media. Long term, the strength of our message will drive more and more business towards our credentialed qualified appraisers.

    The advancement of our educational qualifications criteria, including strict enforcement of our unique requalification standard, has not only assured the public that ISA appraisers remain relevant throughout their careers and are practicing the most current standards, but has also raised ISA’s standing among our peers and The Appraisal Foundation. It is important to stay steady in this course going forward for the benefit of all of our members and colleagues.
  • Last but not least, Assets 2015 was a record-breaking annual conference with our highest attendance in history, selling out attendance space and sponsorship tables.

    Looking ahead to Assets 2016, coming up April 15-18 in Dallas/Fort Worth, Texas, we are excited to see that registrations are trending ahead of last year. We are welcoming back long-time sponsors of our organization and bringing in new sponsors eager to partner with us.

    Our conference theme, Expanding Horizons, focuses on our ever-changing appraisal industry and finding new opportunities for our member’s appraisal practices. Attendees will gain insight into the new directions industry-related gatekeepers are taking with their clients and learn how ISA appraisers can collaborate with these industry trends for increased business. This year’s conference continues ISA’s tradition of bringing leading industry experts to our attendees. Be sure to check our ISA website for program and tour details. Don’t wait too long to register as this year’s conference is already predicting to be another sell-out.
There has never been a better time to be an ISA member! If we are all vigilant to keep a spirit of collaboration between all of our members (from all nine countries), make efforts to become involved, informed, and volunteer for committees to improve our organization, ISA will continue to thrive and gain respect. I look forward to working with all of you this upcoming year on projects that will make ISA better than ever in 2017.

Wishing you all a prosperous 2016,

Christine Guernsey, ISA CAPP
President