Planning Your Appraisal Appointment

Janet Madrigal, ISA AM

Ready, Set... Form!

First things first, when that phone rings or that email pings with a potential client, I like to have a client data form/activity log handy. You can find an example in our Core Course manual and the ISA Means Business! Toolbox or make one up yourself. I have many copies made and have them in a folder so that I can just grab one when needed. Because our lives are so hectic, I like to write down as much info as I can. Then I peruse my form just before my appointment. Maybe your client’s mom just passed away or they have a child going off to college for the first time. This is a great way to “break the ice” when you first speak to them again or meet them. C’mon guys, we’re selling ourselves!

What, Why, When, Where

What are the pertinent questions to ask when you receive that call? Start with, “What, Why, When and Where!” People love to talk and love to tell you about their treasures, right? Just like when your seat companion on an airplane inquires what you do for a living and they immediately think, “Antiques Roadshow.” Then the stories really start. We can all relate! It’s not usually too difficult to get the client to tell you the pertinent info, but getting them to stop talking may be another matter entirely!

By now you’ve filled out your intake form and your appointment is set! If you’re a generalist (like I am) the average person expects you to know everything about everything that was ever produced! Now, we all know this just isn’t possible (thank you again, Antiques Roadshow). Hopefully, you have a few extra minutes to do a google search or whatever else floats your proverbial boat to have some good information on the client’s collection. I don’t suggest faking knowledge but rather ask good questions and listen well. Then reach back into your core course or something you read and WOW them with your knowledge!

Gear it Up

I always have my appraisal bag at the ready. Contents include:

• A decent digital camera (with a charged battery, even though most of us have a phone with us if we run out of camera battery)
• Two measuring tapes (one retractable and one without metal at ends for measuring art or scratch-able items)
• Pens and pencils
• A small flashlight
• Magnifier
• Loupe
• White cotton gloves (available at CVS)
• Mask (you never know when you’ll need one)
• Pointer (if you use a pen or a pencil to point out a condition issue you may leave a visible mark)
• Extra batteries
• A package of hand wipes or sanitizer (if there isn’t running water to wash your hands before or after)
• My notebook and client file.

I like to put my client form in a manila file for confidential purposes. More than once I have caught clients snooping on what I wrote! Business cards are a must and a pocket-size Hallmark book may be helpful. You'll also want to include client contracts, invoices and other relevant paperwork for the assignment.

Bag contents may change if you’re an art or jewelry appraiser (a black light, scale, and acid test kit may be added). I cannot stress enough how important it is to be prepared. Having everything you might need at your fingertips makes you look professional and prepared. The client form has space for the client’s address and the owner’s address. Where are the items located? Are they at the deceased mom’s house or moved to the daughter’s house? Make sure you know where the items are located to save time and trouble.

Waze It

I use an app (which I found thanks to my millennial children) called WAZE. I can put in a client’s address and when I’m traveling (day and time) and it will calculate how long it will take me and will send me a ping when it’s time to leave! It considers time of day, traffic and construction. Let’s face it, it’s a lot less stressful to be a few minutes early rather than late. If you’re early you can take those few minutes to scan your intake form once more before meeting the client.

Dressing the Part

Depending on the client and situation, dress the part. For instance, in July, I had a client that had no air conditioning, no fans, and no open windows. Besides that, I had to trek into a gravel sub-basement and several out buildings through grass and one-can-only-guess. Since I had been there previously, I was thankful for my capris and ECCO shoes. Wearing the right clothes and shoes for the situation adds to your professionalism, not to mention, your comfort!

Your Gut (Feeling, That Is)

Safety is very important in any profession and ours is no exception. The Waze app allows you to send an “ETA” to family and friends. It’s the last thing I do before I ring the doorbell. My family, then, has the time and address of where I am located. Generally, I am alone on appointments going into a stranger’s home. Use your instincts and go with your gut feeling. It will never let you down. If you feel uneasy about the situation, drive to a safe location and reschedule when someone else can be with you. If everything feels and looks right, have your business card ready to hand to the client along with a big welcoming smile!

Janet Madrigal, ISA AM, has been a member of ISA since 2014. She is located in Joliet, Illinois and owns the company Attic to Appraisals, where she assists homeowners in finding their everyday items that may have more value than they think. She earned her MBA from Lewis University.

Signing Your Appraisal Report

Meredith Meuwly, ISA CAPP

I was recently asked about where you should sign your appraisal report. It may seem like a silly question, but it’s actually not. Although USPAP does not dictate the form, format, or style of how to prepare an appraisal report, it is very specific in that the written appraisal report must include a signed certification statement. See USPAP 2016-2017 Edition Standards Rule 8-2(a)(xii) for Appraisal Reports and Standards Rule 8-2(b)(xii) for Restricted Appraisal Reports, which each state, “include a signed certification in accordance with Standards Rule 8-3.”

The ISA Appraisal Report Writing Standards states that “the appraisal must contain the appraiser’s signature plus the signatures of non-dissenting collaborating appraisers, if any.” See Lesson 17-4 in your Core Course manual, revised April 2016 edition. Thus, USPAP requires the certification statement be signed, and ISA requires that the appraisal report be signed. Thus, “where do you sign your appraisal report?” becomes a really good question.

The answer is one of two ways:

1. Include the certification statement in the Cover document of your appraisal report as a separate page with its own signature. Then you can continue writing and sign the report again.
   OR
2. Include the certification statement at the very end of the Cover document and sign immediately thereafter, so that you have a signed certification. There is no need to sign the report again.

The key point to remember is that you cannot have other text after the certification and then sign the Cover document. You need to be sure to sign the certification statement. With this information in mind, most appraisers choose option 2, as it kills two birds with one stone by allowing them to sign the appraisal once, right after the certification statement.

And let’s not forget that USPAP also specifies in Standards Rule 8-3 that “An appraiser who signs any part of the appraisal report, including a letter of transmittal, must also sign this certification.” As such, anyone signing the report must also sign the certification statement, whether that is in one place or two places in the Cover document.

As the requests for charitable donation and other types of appraisals are likely to increase as we near the year’s end, now is a great time to review your appraisal formats to make sure you are signing your appraisal report in the right place.

For questions and/or concerns, please do not hesitate to contact me at directorofeducation@isa-appraisers.org.

Meredith Meuwly, ISA CAPP

Director of Education

Collecting Information for Appraisal Reports

Libby Holloway, ISA CAPP

“A picture is worth a thousand words” is a saying that we are all familiar with. It isn’t clear to cliché historians whether this phrase was coined in 1911 by newspaper editor Tess Flanders, earlier from a paraphrased comment by Napoleon Bonaparte or even earlier by Confucius. But, the statement rings true no matter who said it first.

In the Core Course, you are instructed to take clear photos and write descriptions that are thorough enough to enable the reader, who may not be familiar with art or antiques, to pick the item out in the room. Different objects require different levels of detail in their descriptions. For example, there is no need to write three sentences to describe assorted used pots and pans, nor is there a need to photograph each separately. However, you will likely need to take multiple photos of a piece of art. Make sure you are qualified to appraise the types of items you are tasked with valuing. If you are, you should be able to determine the detail needed to adequately describe the objects.

When you are on-site collecting information for your appraisal report, make sure you take the time to take the right number of good quality photos. Luckily, digital photography has made it affordable to take enough photos to insure you have gathered the information needed. I generally take 4 corner shots of each room, then methodically work my way around with group shots of less valuable items and singular shots of more important pieces. Practice working with your camera so you can adjust for different light levels, different finishes and small details such as silver marks. Learn to take photos of items under glass or with shiny surfaces. Carry solid dark and light cloths that can be used as a background for close photos. If you need more help with photographing objects, online tutorials can be a great resource and should be available for almost every type of camera.

No matter how much experience you have in the field you appraise in, there will be times when you aren’t sure about a piece. If you think you may be seeking help from someone else, you should take lots of photos from different angles and capture details such as marks, signatures or other characteristics that can be used for dating and identification. Be aware of what those characteristics are for each type of property you are inspecting. Did you know the number of toes on a dragon can be important? Did you know that some flaws show up in a photo taken with a flash that you might not be able to see in lower light? Your photos can give hints to an expert that you might not even have the words to express. ISA's Fine Arts and Antiques, Furnishings and Decorative Arts specialty courses include photography and description writing tips for that purpose.

Ceramic pieces may include markings that
will help you or another expert identify the piece.

Since condition is important to determining value, make sure you know how to properly photograph and explain condition issues or terms for types of damage. You might say that a finish is bleached from light exposure, silver is scratched from improper cleaning or that a print has suffered from exposure to moisture. Take clear photographs of the damage showing the extent of the damage and the overall condition of the piece. A scratch on a piece of art glass may not affect value if there are also large chips in the rim.

Speaking of words, in addition to informational photos, remember that you must use terms that make sense to your reader to describe the object. If your client is a knowledgeable collector, then pull out the ten-dollar words that you both know. If your client is an attorney who may know the law but not technical fine or decorative art terminology then use words they can relate to. Or, if it is necessary to use technical terms, include precise definitions in a glossary in the report addendum. Avoid using flowery, subjective language in appraisal writing. You shouldn’t describe something as beautiful, tasteless, tacky or glorious (yes, I’ve truly read those in appraisals before). Be careful using terms such as rare or one-of-a-kind unless you are sure that the industry considers that to be true. For information on important terminology in modern design, see our recent blog post by Valerie Hale, ISA CAPP.

Here is a new saying for you: “A picture is worth a thousand words, but a thousand words can’t replace a good photograph.”

- Libby Holloway, ISA CAPP

Everything You Always Wanted to Know About Becoming an Appraiser (But Were Afraid to Ask)

Jillian Van Volkenburgh

I must preface, I am not an appraiser… yet. I just completed Module 16 of the Online ISA Core Course in Appraisal Studies. I am officially past the halfway point!

Are you thinking about becoming a personal property appraiser? That was me a few months ago – I’m relocating to the East Coast and wanted to begin a career I could take with me. I would like to share my recent entrée into this new chapter of my life with ISA.

Education is an Investment 

I am currently the Director of Education for a large art nonprofit in Northwest Indiana. I am often asked to speak to students about creative careers. The one thing that I stress is that education, regardless of your area of study, is an investment. To invest in your “future you,” you also must invest two incredibly valuable things: time and money. (I know I am not an appraiser yet, so this is not a formal valuation on time or money).

When I made my first steps into researching ISA, I called their headquarters in Chicago. I wanted to know two things: how long the course would be and how much it would cost.

As I mentioned, I work for a nonprofit, so cost was a determining factor for me. And as an adult with full-time adult responsibilities, making a new commitment can be harrowing. Luckily, I found that ISA’s courses and education materials are not unreasonably priced, and that the time I have to complete the coursework is absolutely manageable. But I was definitely nervous about that time commitment before I started!

Those That Appraise Together, Stay Together: Commitment 

Two of the best decisions my husband and I made jointly were getting gym memberships and joining ISA. You thought I was going to say getting married, right? As I alluded to in the previous paragraph, commitment, eh… scares me a little bit. Well, he convinced the girl who vowed never to marry, well, to marry. That was the very best decision that I reluctantly agreed to - now we are on this journey of life, love and appraising together! And I’m glad I have committed to ISA as well.

Joining ISA as a team has many advantages. My husband and I have different strengths and areas of interest. We can discuss the coursework and bounce ideas back and forth. We have ultimately become study buddies. (Yes, I just typed that and he will be mortified for calling him that.) We can challenge each other and celebrate our successes. It even has upped our texting game beyond “Want to get dinner after work?” or “Did you feed the cat?” to “I passed my assignment!”

One important thing to remember, even though I just spent two paragraphs explaining the benefits of joining ISA with my spouse… 

You May Be Unattached, But You Are Not Alone

Even if you haven’t joined ISA with your spouse, that does not mean that you will be alone in your journey toward becoming a professional personal property appraiser. One of the many amazing benefits of joining ISA is that they are setting you up for success. Failure is not their goal. Unlike a certain sadistic college professor that we all have had, they don’t want you to fail. ISA has a number of resources put in place to ensure that you succeed.

First of all, for the online course, you work directly with an instructor via email. The instructor is there not only to evaluate your assessments, but also to answer any questions. Also, you can work with an ISA Ambassador when you first join. Ambassadors are seasoned ISA appraiser that will offer guidance for the year following your completion of the Core Course. There is also a great toolkit - the ISA Means Business! Toolbox - on the ISA website with valuable resources on how to build your business.

As we all know, the Internet is also a social network. Take advantage of it. One site that I have found useful is LinkedIn. I already used LinkedIn for my professional position, but I have extended my network to include ISA appraisers throughout the country. I sent out short messages saying, “Hey, I just wanted to introduce myself. I am becoming an appraiser through the ISA and I wanted to connect with you.” This has opened up dialogue with a number of appraisers who have specialty areas outside of my purview, so they could potentially become great resources in the future.

I Am a Student Again at 40

They say a lady never tells her age, but I will be ethical and truthful in this blog post. I am a few months shy of my 40th birthday. When I was in undergrad, we did not have the option for online learning. I enjoyed academia and being in the classroom and I was not sure if online coursework was for me. I was wrong. I LOVE IT! With a full professional and social schedule, I can dictate when and where I learn. I might be in the comfort of my office or at my local coffee shop. It is fantastic option.

The online lectures are very straightforward and thorough. The instructor gives great examples to illustrate the discussed topics to make them relatable and easy to understand. As a side note, the online proctor is unintentionally funny. His dry humor comes through ever so slightly and unexpectedly.

Read the Chapters First!

The instructor states that at the beginning of each module, you should read the chapter first and then listen to the online lecture before taking the assessment. For the first module, I was like…. oh, I will just listen to the lecture and take the test. When I reached the point to take the assessment, it took me three attempts!

No matter how confident of a person you are, when you see "Failed" in red on your screen, you squirm a bit. Reading the chapters prior to the assessments is critical because the online lectures may not cover everything in the chapter. Always take your instructor’s advice!

A Highlighter is Your Friend 

One study tip I might suggest is making a review packet. Most chapters have a page of review at the end. I made copies of each review sheet and then compiled a quick study packet. Spoiler alert! There is no review for one of the longest chapters in the Core Course Manual, Chapter 12. So l recommend taking notes as you go along and highlight key points through the entirety of the manual.

Find Some “Me Time” 

I recently read a study on the brain and memory retention in Forbes about how multitasking can cause diminished long-term memory and decrease productivity. Even though society commands your attention in every direction with 24-hour ticker tapes on the screen and constant weather/coupon/news updates on your phones, we have to relearn to focus.

Make time to study, especially when you are doing distance learning or the online course. You should set aside time that works around your child/dog/work/Roomba chasing schedule. Give yourself quiet time to absorb the information. Listen, take notes and find a study pattern that works best for you.

Wish Me Luck!

This is is my first of hopefully many blog posts of my adventures in the world of personal property appraising for the ISA website. I will now minimize this screen and begin Module 17. Wish me luck! To be continued…

 - Jillian Van Volkenburgh

Jillian Van Volkenburgh is an aspiring ISA appraiser, currently enrolled in ISA's Core Course in Appraisal Studies. The ISA Core Course is the “original” complete appraisal methodology course for personal property appraising. Its thorough scope includes appraisal objectives, intended uses, market identification and analysis, research methods and skills, ethics and professional conduct, and a detailed presentation of report formats and checklists. Students enrolled in ISA’s Online Core Course program use the same text materials as the onsite course offerings coupled with a series of interactive learning exercises and open book quizzes that must be completed as the course progresses. Learn more about the Online Core Course, our Onsite Core Course, and about becoming an ISA member.

Moving On Up With Education

By Libby Holloway, ISA CAPP and ARC Instructor

September is ISA’s back to school time. All three of our week long foundation courses, Core Course, Appraisal of Antiques and Residential Contents (ARC) and Appraisal of Fine Art (FA) are offered in the next few months. Shorter courses to include the 15 Hour and 7 Hour USPAP, Requalification and Oriental Rugs are also offered before this year’s end. The Foundation for Appraisal Education (FAE) even gets in the game with their upcoming Symposium in Philadelphia. There are lots of opportunities to make sure you are up-to-date with your qualifications and educational goals between now and mid-December. 

All members know that the Core Course and 15 Hour USPAP are required courses. After these are under your belt, you get a little freedom to choose your educational path and how you get your Professional Development Credits. (Don’t forget, Members need 50, AMs need 75, CAPPs need 100 and Lifetime members need 50 credits to renew.) It is also worthwhile to take a look at the ISA Credentialing Pathway, which provides an overview of the steps you can take to further your education.

It has been traditional to take the course that fits with your specialty area, which is certainly a good plan. Don’t forget, though, that most appraisers see many types of property onsite and need to know the basics of identification and description, whether they plan to complete the valuation or seek help from another member or specialist. Appraisers are also held accountable to appraise only that property they are competent to appraise (see USPAP).

The Appraisal of Antiques and Residential Contents (ARC) and Appraisal of Fine Art (FA) courses are great steps toward becoming an Accredited or Certified Member. Both are survey courses which offer a broad spectrum of knowledge to help appraisers understand at least a little about a lot of types of property. Survey courses don’t make you an expert on any subject but do give you a view of “good, better and best” for many types of property.

Both also teach you the language to use in writing descriptions, to identify and research the best comparable property, give tips on how to write USPAP compliant reports and prepare you to take other, more specialized courses. Since these are onsite courses, you have a chance to study with other members, learning from each other as well as the instructors. I have received help from both members I took ARC with sixteen years ago and from my students who took the course last fall. I admit to being a particular fan of the ARC class, which features lessons on lighting, oriental carpets, and everything in-between. (Maybe I’m a little biased.)  

I have been a CAPP member for several years now and have recently become an ARC instructor. I think I have a pretty good understanding of most decorative antiques and household property. This year, I have finally gathered up enough courage to take the Fine Art course in October. Though I have been comfortable including lower-value art in my reports, I have found that my lack of knowledge has potentially motivated me to turn down jobs with more complicated pieces included. I know that, with my background, I will not be competent to value all art.

That said, it will certainly allow me to be more confident when seeking help from more experienced fine art appraisers or specialists. I would even encourage those members with higher education who are pursuing the Specialty Studies path to consider taking one or both of the survey courses.

We often boast that ISA trains many of the most well-rounded and competent appraisers in the profession. The ARC and FA courses certainly play a part in making this true. I hope that you choose to join Michael Logan and myself in the ARC class this October. See you there!

What's New in ISA Education?

As we near Assets 2016, and its many offerings for networking and education, it's important to once again ask yourself: Where am I currently on the ISA Credentialing Pathway?

Open to members and nonmembers alike, ISA's professional development and certification courses come in an array of course formats—on-site sessions, the Online Learning Center, webinars, and Distance Education—all of which are designed to make advancing your industry-related knowledge as easy as possible. Whether you’re just beginning your credentialing process in personal property appraising or you simply need a refresher, the Credentialing Pathway offers a wide variety of professional development and certification courses throughout the year.

What’s new in 2016 ISA education?

• More courses for advanced education, including:
• Modernism: Prints, Photographs, and Multiples
• Modernism: Design, Furniture, and Decorative Arts
• Asian Art III: Foundation Course in Asian Ceramics for Appraisers
• Fine Art & ARC Courses now offered in Canada
• More course locations: Montreal, Toronto and San Francisco
• An easy-to-follow guide on how to go from Candidate to Certified ISA Member

Below is our upcoming courses over the next few months. View the full 2016 course offering on the ISA website.

Montreal

May 9–15
Core Course in Appraisal Studies
Instructors: Kathryn Minard, ISA CAPP, and Leon Castner, ISA CAPP
Montreal, Québec

May 16–17
15 Hour Personal Property USPAP Course
Instructor: Leon Castner, ISA CAPP
Montreal, Québec

May 30–June 5
Appraisal of Fine Art Course
Instructors: Kathryn Minard, ISA CAPP, and Richard Casagrande, ISA CAPP
Arts and Letters Club, Toronto

Jun 6–12

Toronto

Antiques and Residential Contents Course
Instructor: Mickey Logan, ISA CAPP
Arts and Letters Club, Toronto

Jun 13–15
Modernism: Prints, Photographs, and Multiples
Instructor: Meredith Meuwly, ISA CAPP
Naperville, Ill.

Jun 15–17
Modernism: Design, Furniture, and Decorative Arts
Instructor: Valerie Hale, ISA CAPP
Naperville, Ill.

With Assets 2016 on the horizon, we encourage you to seek out educational opportunities, share information and resources with your industry peers and fellow Assets attendees, and continue down that ever-rewarding Credentialing Pathway.

Deducting materials? Is a written appraisal required or do they just submit receipts?

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.

Question: An artist is donating a work to a museum. I understand they can only deduct the cost of the materials, which in this case is over $21,000. Since this amount is over the $5,000 threshold, is a written appraisal required or do they just submit receipts?

Answer (from Karin Gross, Office of the Chief Counsel for the IRS:Yes, the artist needs to have the work appraised. The fair market value allowed would either be the cost of the materials or the value based on comparable sales – whichever is less. (Just because an artist has $21,000 in materials doesn’t mean it would sell for that much.)

Aside (Leon): The item must be appraised for fair market value using the sales comparison approach. If the comparables suggest the piece has a fair market value of only $5,000, that’s the amount – not the $21,000. Very interesting!

Trivial Pursuit III
Tidbits Taken From our Core Course Exam
These statements are ALL TRUE!

1. A USPAP certification must be proceeded by the words identical or similar to “I certify.”
2. An electronic signature is acceptable in an appraisal report.
3. The present worth formula is often used in an appraisal blockage analysis.
4. Age-life depreciation is often applied without discrimination to the property’s condition or to the property’s level of use.
5. Appraisers are responsible for recommending to their client if authentication should be done.

Ask Leon: I was asked to do a local radio show and need six points to give them to ask me questions. Any ideas?

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.

Question: I was asked to do a local radio show and need six points to give them to ask me questions. Any ideas?

Answer: The key to any good interview is having the right questions to answer. That means one should suggest the types of questions to ask. (This will not only ensure you have the correct answer, but does a lot of work for the interviewer. You make their job easier. They will be happy to use your questions.)

Here are six I would suggest:

1. What makes a good appraiser?
2. How can you make sure you get a good one?
3. Do appraisers specialize in certain areas?
4. Is there licensing for appraisers and is that important?
5. Are there different types of values or costs for personal property?
6. Does one need a written document when one gets an appraisal?

That’s certainly not all of them and maybe it isn’t even a great list, but it sure gets the ball rolling. It allows you to speak confidently about your qualifications, the uniqueness of ISA, and makes everyone look smarter, both you and the interviewer. They will thank you for it.

Trivial Pursuit II
Misconceptions taken from our Core Course Exam
These statements are ALL FALSE!

1. Value is defined as the amount of money paid for an item of personal property.
2. The IRS requires that an appraisal report for the intended use of filing for a charitable contribution include a statement of original cost.
3. Revenue Procedure 96-15 outlines the format and types of market research required when writing Federal tax appraisals.
4. Replacement cost new considers wear and tear and economic obsolescence.
5. ISA appraisal standards mandate that all appraisal reports be in narrative form.

Where are YOU on the ISA Credentialing Pathway?

As we come to the end of our first day of ISA's premier educational event of the year, Assets 2015, it’s important to ask yourself: Where am I on the ISA Credential Pathway?

Open to members and nonmembers, ISA's professional development and certification courses come in an array of course formats that make it easy to advance your industry-related learning. On-site courses afford you the opportunity to receive instruction while collaborating with peers in group activities. The Online Learning Center provides members unable to travel with real-time online presentations and a self-paced Core Course option, while Distance Education allows you to complete coursework via email. And last but certainly not least, our incredibly convenient webinars give users access to a rich archive of recorded sessions (some of which are free!).

So whether you're starting the credentialing process (Stage 1) with the Core Course in Appraisal Studies and the 15-Hour USPAP Course; building your credentials (Stage 2) with more specific areas of expertise; maintaining your status (Stage 3) through requalification courses; or advancing your knowledge (Stage 4) in your area of focus, ISA education allows you to take part in courses led by some of the most accomplished, knowledgeable professionals in the appraisal industry.

Here are our upcoming courses in June. View the full 2015 course offering on the ISA website.

June 1–7
Core Course in Appraisal Studies
Instructors: Leon Castner, ISA CAPP & Kathryn Minard, ISA CAPP
Arts and Letters Club of Toronto

June 9–10
15 Hour Personal Property USPAP Course
Instructor: Leon Castner, ISA CAPP
Arts and Letters Club of Toronto

June 15–17
Asian Art I: Appraisal of Japanese Prints
Instructor: Daphne Rosenzweig, PhD, ISA CAPP
NIU – Naperville Campus in Naperville, IL

June 18–20
Asian Art III: Foundation Course in Asian Ceramics for Appraisers
Instructor: Susan Lahey, ISA
NIU – Naperville Campus in Naperville, IL

As we head into Assets 2015, we encourage you to seek out educational opportunities, share information and resources with your industry peers and fellow Assets attendees, and continue down that ever-rewarding Credentialing Pathway.

Ask Leon: How can I appraise something that is reportedly non marketable?

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.

Question: How can I appraise something that is reportedly non marketable? I have been asked to appraise paintings owned by a government agency for insurance coverage.

Answer: The answer is found in the Core Course manual in lesson 3 (page 3-8). One normally uses the cost approach to value or estimate the cost of non-marketable property. As we know, the cost approach is based on the cost to reproduce (reproduction), produce an equal substitute (production), or the cost to purchase. In the event of a painting owned by a government agency that can’t be sold, here are a few guidelines:

1. What would it cost to have a competent artist duplicate the painting? (This assumes the original artist is deceased and can’t paint another.)
2. What would it cost to have an artist make a suitable equivalent? (The artist should have a similar standing within the art world as the original artist.)
3. What would it cost to purchase the piece if it were available in the marketplace? (One can use the sales comparison approach to gather data and adjust for inflation, location, timing, or find similar paintings available in the marketplace at retail settings.)

Trivial Pursuit
Misconceptions taken from our Core Course Exam
These statements are ALL TRUE!

1. The value to be determined for divorce cases is based on individual state or Provence laws.
2. The IRS qualified appraiser definition does not include a requirement to be at least 25 and a resident of the US.
3. Change in condition is not a type of obsolescence. It is physical depreciation.
4. Auction company estimates are not values. They are used as marketing tools or a guide for buyers and sellers. They may have no relationship to the real value of an item.
5. Authentication is not absolute. It is an informed and recognized opinion.

Congratulations to Our Online Course Attendees

ISA recently concluded on-site offerings of the 15 Hour Personal Property USPAP course and Core Course in Appraisal Studies in Naperville, IL; as well as, a second live online 7 Hour USPAP course.

Please join us in congratulating the following course attendees on their successful course completion

15 Hour Personal Property USPAP Course Attendees – March 15-16

Lauren Abramowitz  - Glendale, AZ
Veronica Adetuyi  - Toronto, ON
Mark Cooper  - Sarasota, Fl
Joseph Daniel  - Fort Lauderdale, FL
Vanessa Elmore  - Santa Fe, NM
Allyssa Hixenbaugh  - Bexley, OH
Ellen Kornhauser ,ISA CAPP - Cary, IL
Emily Meyer  - Potomac, MD
Ivelina Nikolov  - Mississauga, ON
Japheth Patrick  - Bexley, OH
Beata Riedlmayer  - Chicago, IL
Michael Skerrett  - Toronto, ON
David Stevens  - Roxboro, NC
David Templeton  - Burien, WA

Core Course in Appraisal Studies Attendees – March 17-23

Lauren Abramowitz - Glendale, AZ
Veronica Adetuyi - Toronto, ON
Katy Alexander - San Antonio, TX
Joseph Daniel - Fort Lauderdale, FL
Helen (Len) de Rohan - Knoxville, TN
Vanessa Elmore - Santa Fe, NM
Brian Herzig - San Antonio, TX
Patrick Kearney - Chicago, IL
Michael Mee - Dallas, TX
Emily Meyer - Potomac, MD
Beata Riedlmayer - Chicago, IL
Daniel Rogers - Williamsburg, VA
Michael Skerrett - Toronto, on
Steven Stam - Lynbrook, Ny
David Templeton - Burien, WA
Elizabeth Underhill - Birmingham, AL
Robert Vogt - San Antonio, TX
Caroline Young - Chicago, IL

Live Online 7 Hour USPAP Course Attendees – March 20-21

Hughene Acheson ,ISA AM - Oakville, ON
Tracy Bernabo ,ISA - Ashland, VA
Donna Bradshaw ,ISA - Woodland, CA
Robin Burke ,ISA - Middletown, CT
Dennis Godfrey ,ISA AM - Bradenton, FL
Aloysia  (Nini) Hamalainen ,ISA CAPP - Silver Spring, MD
Darlene Hines ,ISA CAPP - Bloomfield Hills, MI
Dana Holland-Beickert ,ISA AM - Germantown, TN
Kathi Jablonsky ,ISA CAPP - San Diego, CA
Katherine Manning ,ISA AM - Barrington, IL
Diane Mizell ,ISA AM - Signal Mountain, TN
Molly Murphy-Adams  - Tulsa, OK
Charles Scarrott ,ISA AM - Gilbert, AZ
Greer Simonton ,ISA AM - Memphis, TN
Sunny Wagner ,ISA AM - Signal Mtn, TN
Beatrice Weiskopf ,ISA AM - Northbrook, IL
Dennis West ,ISA AM - Woodland, CA
Fred Winer ,ISA CAPP - Baltimore, MD
Maureen Winer ,ISA AM - Baltimore, MD

Congratulations on taking important steps to maintain your education and appraisal industry knowledge, by taking courses through ISA!

ISA Launches New Online Learning Center

The Board of Directors and the office staff have promised to listen to you, the members, when deciding the future of ISA.  This time we’ve also listened to market analysts and research results from providers of higher education.  Everyone seems to want online educational offerings.  Learning at home over the internet really makes sense in our profession.  After all, part of the beauty of what we do is being able to work on our own schedule and in pajamas, right?

By now, you’ve probably seen an email announcing the new online version of the Core Course.  This is probably more exciting for future members, but we all realize that more members make for a stronger organization and online options make our excellent educational offerings available to more people. (More professionals in the market doing appraisals means more people are hearing about us and deciding to use us.)  It’s easy to share the link with people who’ve asked you how they might become appraisers.  I don’t believe the online version of the Core Course will ever replace live offerings, but there are a significant number of people who want this option.

The flexibility of the online platform will allow ISA to develop more classes.  This isn’t the old PowerPoint webinars we have seen in the past.  The new system allows PowerPoint type slides, with audio integration – which can include a lot of photos and short video clips.  Quizzes and most final tests are online and you get immediate feedback.  If you give a wrong answer you are provided feedback on what areas to further study.  If you have questions you can join a chat room or email the instructor for help.  Nothing can completely take the place of learning in a room full of people who speak your language but this is so much better than the old correspondence course options when I first started appraising.

If you are wondering how this new platform will help us “old guys” the first answer is easier access to USPAP.  I just took the 7 hour update on-site last fall but look forward to being able to take it online from now on, not that I didn’t have great time visiting with everyone in Naperville.  Like everyone else, I’m busy, and it is easier to commit a few hours rather than a few days for the class.  By the way, the first online 7 hour USPAP was full within a few hours of the announcement so we’re hoping to schedule another one.  Other classes in the planning stage include a short course that is an introduction to the Fine Arts specialty course for those of us who don’t have an educational background in art.  We want to hear your ideas for other courses you’d like to see developed.  I can’t promise every subject will become an online course but I’m sure lots of you have great ideas.

Even if you have already done the Core course take a look at this short video.  It will give you an idea of what to expect from other courses.  Then all you have to do is watch for information about new offerings.  Oh yeah, if you need the 15 hour USPAP you better hurry and get registered.

Libby Holloway, ISA CAPP
Chair, LMS Taskforce

Congratulations to Our Course Attendees

ISA headed back to Northern Illinois University’s Naperville Campus for offerings of the Core Course in Appraisal Studies and the 15 Hour Personal Property USPAP course, just two short weeks ago. Please join ISA in congratulating the following attendees on their successful completion of the courses!

Core Course in Appraisal Studies: March 4-10
Michelle Conliffe – Florence, KY
Lori Dodson – Washington, DC
Debbie Foster – Naples, FL
Gabrielle Goodman – Pepper Pike, OH
Ben Greenbaum – Petersburg, VA
Allyssa Hixenbaugh – Ashville, OH
Jennifer Lee – Dallas, TX
August Monteleone – Cicero, IL
Japheth Patrick – Columbus, OH
Mary Peirce – Questa, NM
Ann Salaber – Naples, FL
Isabella Weiss – Grosse Pointe Farms, MI

15 Hour Personal Property USPAP Course: March 11-12
Michael Brown – Fishers, IN
Shelli Cassidy-McIntosh, ISA – Oakville, ON
Ariane Cherry – Chicago, IL
Michelle Conliffe – Florence, KY
Jacquelyn Dewdney – Des Moines, IA
Donna Einhorn, ISA AM – Fishers, IN
Gabrielle Goodman – Pepper Pike, OH
Ben Greenbaum – Petersburg, VA
Mark Howald – St. Louis, MO
Lisa Hudspeth – Winston-Salem, NC
Duane Leet, ISA AM – Grand Haven, MI
August Monteleone – Cicero, IL
Terry Oldham – St. Joseph, MO
John Paynter – Winchester, KY
Ann Salaber – Naples, FL
Shelley Sandler, ISA AM – Houston, TX
Jacquelyn Ullmer, ISA AM – Dayton, OH
Jeffrey Vierk, ISA AM – Lafayette, IN
Isabelle Weiss – Grosse Pointe Farms, MI

Congratulations on taking important steps to further your appraisal industry knowledge, by taking courses through ISA!

Start planning your summer education with ISA!
June 3-9: Core Course in Appraisal Studies – Toronto, ON
June 24-26: Asian Art I: Japanese Prints – Naperville, IL
June 26-28: Asian Art II: Paintings and Screens – Naperville, IL

ISA Announces Course Attendees

ISA would like to announce the attendees of the recent Core Course in Appraisal Studies as well as the Appraisal of Antiques and Residential Contents course.  The Core Course in Appraisal Studies took place October 17-23 and the Appraisal of Antiques and Residential Contents course followed on October 24-29; both courses took place in Naperville, IL at the Northern Illinois University Naperville Campus.

Core Course in Appraisal Studies

Tracy Bernabo – Ashland, VA

Gus Bynum – Georgetown, KY

Jerry Copland – Memphis, TN

Carolyn Day – Chicago, IL

Randy Denosowicz - Dallas, TX

Janie Fountain – Sausalito, CA

Nigel Harrison – Vancouver, BC

Daniel Matthews – Nokomis, IL

Jeffrey Pearson – Phoenix, AZ

Amy Piotrowski – Toronto, ON

Stacey Porter – Winnetka, IL

Jody Scott-Olson – Royalton, MN

Wendy Treacy – Aurora, ON

Lori Weidow – DuBois, PA

Nichole Wilson – DuBois, PA

Judy Youenes – Houston, TX

Appraisal of Antiques and Residential Contents

Jennifer Bird – Coral Gables, FL

Gus Bynum – Georgetown, KY

Jaime Corbacho, ISA – Los Angeles, CA

Katherine Cutlip – Winter Park, FL

Randy Denosowicz – Dallas, TX

Reba Jo Fleming, ISA – Amarillo, TX

Bryne Hagstrom – Egene, OR

Shelley Hall, ISA AM – Bend, OR

Lorie Hart – Solon, OH

Kay Helker – Platteville, WI

Georgia Jobes – Boerne, TX

Lisa Lowy – Solon, OH

Holly Nelson, ISA – Braham, MN

Laura Nelson, ISA – Tulsa, OK

Shell Payton – Montgomery, AL

Jeani Shankle – Raleigh, NC

Suzanne Staley, ISA CAPP – Santa Fe, NM

Jess Sturtevant – Bradenton, FL

Maureen Winer, ISA – Baltimore, MD

Congratulations to those who attended these courses and in taking this important step in further your industry knowledge!

Happy Summer to all our members

It has been a very busy time for ISA since I last wrote. The 2012 Conference Committee has been hard at work getting the Tempe based conference ready to present. The speakers are chosen, the tours are scheduled and the publication of the conference will be ready soon. Make your plans to join us in Tempe Arizona, April 21st through April 23rd 2012 for a fabulous conference line-up.

The BOD has had the opportunity to work with our newest member, Steven Roach who joined the BOD after the resignation of Francine Proulx. Steve has terrific business experience and has had some great input on the issues facing ISA and its members.

I had the privilege of meeting the latest CORE course attendees two weeks ago. We enjoyed a social evening getting to know each other. What a fantastic group of professionals joining ISA and we are very fortunate to have more and more professionals finding their way to ISA.

One terrific forward movement was the presentation of the new CORE manual. The new manual has been published and is now ready for purchase. If a member has taken the CORE course or Requalification course in the past 12 months they can order the manual at cost plus shipping from ISA. If a member wants a copy of the new manual and has not taken these courses within the past 12 months, the cost is $75.00 plus shipping. You can order the manual on the web site, www.ISA-Appraisers.org

ISA has initiated the seven hour Personal Property USPAP course for our members. For those who have taken the 15 hour USPAP Personal Property course as required to be a member, you are now able to take the 7 hour personal property update to keep your credential. You will need to take this 7 hour class every two years to be compliant with the AQB and ISA. You can take this course through any organization offering the personal property version. Members must have taken the 15 hour USPAP Personal Property version prior to being eligible to take the 7 hour PP USPAP.

I know many of our members will be thrilled to know that we have begun the revamping of our website. ISA has chosen the web designer and they are now in the process of gathering information from a task force regarding what is needed to update and make our website more user friendly and professional. Our members will have an opportunity to vote on the front page look when the time is right. Please let the web designers know what you prefer when the time comes.

Please visit the website regularly to see class updates, blog entries, and happenings in our society. Some of the information found on the website includes the names of new CORE attendees, recent CAPP recipients, member news, and webinar schedules plus more.

The Nominations Committee is almost finished with their task of forming a roster of candidates for the upcoming elections. This year there will be three open spots on the Board of Directors. Fred Winer, Christine Corbin and James Poag are stepping down from their positions on the BOD. ISA can never reward them enough for their hard work these past years and we will certainly miss their wise input. But, I am assured that whoever joins the BOD this October will come with their ideas and commitment to moving ISA forward for the benefit of the membership at large.

I want to thank all of you who have reached out to me with your comments, concerns and ideas. Your input is always important to all of the members of the BOD so that we can make sure we are working for the society as a whole.

I wish you all a wonderful summer season. Take the time to watch a sunset, enjoy the good weather when you can, and share a picnic with a loved one.

All the best,

Judith Martin, ISA CAPP
President

Active in Education

June has been a busy month for ISA educational offerings! Between a North Texas Chapter-sponsored Advanced Report Writing course, the Appraisal of Japanese Prints course, and the Core Course in Appraisal Studies, more than 40 members enhanced their professional knowledge by taking part in these learning activities. The Japanese Prints course attendees participated in a field trip to Chicago’s Floating World Gallery, where they gained insight and perspective from a professional in the field, and Core Course attendees enjoyed a reception hosted by President Judith Martin at her local shop in Wheaton, IL.

ISA would like to recognize those who participated in this month of educational offerings:

Advanced Report Writing
Ellen Amirkham, ISA CAPP – Dallas, TX
Pamela Cole-Witt, ISA AM – Fort Worth, TX
Elizabeth Douglas, ISA CAPP – Austin, TX
Terri Ellis, ISA CAPP – Fort Worth, TX
Jerry Forrest, ISA CAPP – Dallas, TX
Dana Franklin, ISA AM – Irving, TX
Judy Godfrey, ISA AM – Abilene, TX
Scott Hale, ISA AM – Santa Fe, NM
Kim Kolker, ISA AM – Dallas, TX
Marigold Lamb, ISA AM – Rockwell, TX
Carol Matesic, ISA AM – Dallas, TX
Meredith Meuwly – Dallas, TX
Diane Pease, ISA AM – Fort Worth, TX
Lorrie Semler – Dallas, TX

Appraisal of Japanese Prints
Jeff Baker, ISA AM – Bexley, OH
Shirley Baumann, ISA AM – Madison, WI
Robert Hittel, ISA AM – Fort Lauderdale, FL
Ted Krajnik, ISA AM – Glenview, IL
Susan Lahey – Toronto, ON
Suzy McGrane-Hop, ISA CAPP – Cedar Rapids, IA
Kim Morrison – Hinsdale, IL
Catherine Sankey, ISA CAPP – Auburn, NY
Susan Sinclair – Nashville, TN
Susan Tarman, ISA – Santa Fe, NM

Core Course in Appraisal Studies
John Abajian – New Orleans, LA
Jack Bacon – Reno, NV
Jennifer Bird – Coral Gables, FL
Michelle Castro – New Orleans, LA
Holly Hackwith – Omaha, NE
Lorie Hart – Solon, OH
Chelsea Kozachenko – Fort Worth, TX
Lauren Laughry – Dallas, TX
Lisa Lowy – Solon, OH
Rosalind Lyness – Oshkosh, WI
Bill Mercer – Pueblo, CO
Margaret Nicolson – New Orleans, LA
Shell Payton – Montgomery, AL
Edan Sassoon – Beverly Hills, CA
Jeani Shankle – Raleigh, NC
Caroline Shuford – Dallas, TX
Marcus Wardell – Oakland, CA
Rosalie Wardell – Headlsburg, CA
Ruth Winston, ISA AM – New Orleans, LA

These individuals have taken a crucial step in maintaining and furthering their membership with ISA, congratulations!

If you are interested in learning more about the 2011 ISA course offerings, click here to view our course brochure. Please contact Michelle Stearns, Education & Credentialing Coordinator with any questions regarding ISA Education at mstearns@thesentergroup.com.

Sneak Peak at the 2011 ISA Course Schedule

As 2011 begins, we are excited to announce the course dates for the coming year; registration will open for all courses very soon. We are looking forward to another year of providing successful educational course offerings.

Open Registration
February 22-23: Requalification Course – Location: Nashville, TN
Distance Education Core Course
Distance Education Requalification Course

Registration Opening Soon
(Location: Naperville, IL)
May 13-14: Requalification
        16-17: 15-Hour USPAP
June 16-17: Japanese Prints
        20-26: Core Course in Appraisal Studies
October 10-15: Appraisal of Fine Arts
              17-23: Core Course in Appraisal Studies
              24-29: Antiques & Residential Contents
              28-29: 15-Hour USPAP
October 31- November 1: *New* Advanced Report Writing
November 2-3: Requalification

If you would like to learn more about the 2011 ISA course schedule or if you are interesting in submitting a blog article, please contact me at: mstearns@thesentergroup.com

Michelle Stearns
Education & Credentialing Coordinator

ISA WELCOMES NEW MEMBERS and RECOGINIZES ATTENDEES

We’re pleased to welcome the following new members who have joined the Society since July 1, 2010:

If you know someone you’d like to recommend for membership, please forward their contact info to Sara Porter, ISA’s Membership & Operations Coordinator, at sporter@thesentergroup.com.

ISA would also like to recognize those who have successfully completed the recent Core Course in Appraisal Studies, in Naperville, IL October 25-31, 2010. Congratulations on your successful completion of the Core Course and best of luck as you further your education, knowledge and experience through the ISA courses and membership!



Core Course Reflections and Congratulations

During May’s Core Course, Joe Jackson and I went to visit the attendees. It was their first day and we had gone to introduce ISA and ourselves. The classroom is located in the Northern Illinois University satellite campus so it was convenient for us as we are both here in the area. It dawned on me later that ISA had come a long way from the time that I took my Core Course in Rolling Meadows; then we met in a hotel classroom setting. Our manuals were really just outlines of the material and we filled in the information as it was given. The instructor, Elly Rosin used a dry erase board or chalk board to give us diagrams etc., and we wrote like crazy. When I began, I believe there were 25 of us taking the class; this week’s class had 13 members.

Today’s class had the new two part manuals in paperback fashion; one manual is the coursework and one manual is the resource materials. The manuals are a first version and not ready for general consumption but that day is soon approaching. There are Power Points to go along with the topic of discussion, there are projects to complete, there are internet connections for each student, and laptops are used during the class – quite a change. But something that is very much the same is the amount of information that is given in such a short amount of time and how confusing and frustrating it can be at times during the course. By the time the course is finished you know you have accomplished something.

Another thing that dawned on me was the cost of the course has really not changed if you consider the cost of living and the change in the economy. Today’s course is $1299 and I believe the course I took well over 15 years ago was $900. Plus, it’s a really good value for your dollar.

The changes in the Core Course made me think of the changes to ISA in the past 15 years. We have moved our headquarters from Chicago to Seattle and back. We went from a for profit organization to a member owned not for profit. The member owned ISA went from a group management system to a stand alone office back to a management group with Sentergroup. Changes made for good reasons and because of the times we were or are in.