A Real 'Name'-Changer

by Maureen S. Winer, ISA CAPP, Chair of Antiques, Furnishings + Decorative Arts (AFDA)

Say goodbye to "ARC" and hello to "AFDA!"

I am thrilled to announce that the ISA Board has approved the Antiques & Residential Contents (ARC) Committee’s recommendation to change the name of the ARC division to Antiques, Furnishings + Decorative Arts, otherwise referred to by its acronym AFDA.

Why the change? For years, I have believed that ARC did not properly reflect my appraisal business, nor that of most of my fellow appraisers. Sure, it is primarily an internal name and the general public is not aware of the title. Still, we are. So why does this matter? The answer is, we should be represented by a name that is consistent with our desired image; it should state our expertise and should last the test of time. The name should also represent the majority of our members.

The (former ARC) committee members agreed unanimously that a name change was necessary; therefore, we embarked on a mission to find the right name. Through much discussion and debate, and with welcome input from Libby Holloway, we chose Antiques, Furnishings + Decorative Arts. It should be noted that we had an extensive discussion regarding our Gems and Jewelry appraisers; although they remain a part of the AFDA division, we recognize that we need to help them reestablish their own voice over the coming years. The Annual Conference Committee has made sure that there will be plenty of relevant presentations and breakouts to please our Gems and Jewelry appraising members at the upcoming Assets 2017 in Chicago, March 31 – April 3.

Many thanks to our committee members—Bridget Donnelly, Kurt Soucek, Mary Alice Manella, Rudy Pena, Sanjay Kapoor, Lisa Duke and Catherine Sanky. If you would like to become a part of our committee, please contact me at maureen@pwpusa.com.

Oh, The Tours You Can Take

Assets 2017, now open for registration, is coming up March 31 – April 3 in Chicago. There are few better ways to further enrich your Assets experience than by participating in the hands-on tours we have planned at some of Chicago’s most famous art and antiques institutions. Both the Fine Art Tour and the Antiques & Residential Contents Tour will take place Friday, March 31. Let’s take a closer look at each of them:

FINE ART TOUR
Our first stop is Leslie Hindman Auctioneers, an auction house with a worldwide reputation for its full service approach and the noteworthy expertise of its specialists. Founded in 1982, it became the largest auction house in the Midwest in just a matter of years and has only continued to grow, having handled property from the estates of Rose Movius Plamer, Melville N. Rothchild, Frank J. and Mary Mackey Jr., among others.

Following a breakout session on Fine Art, attendees will then depart for the Museum of Contemporary Photography, an institution that collaborates with artists, photographers, and
communities both locally and internationally, embracing a wide range of contemporary aesthetics and technologies to establish itself as the leading photography museum in the Midwest. Attendees will be split in half; while one team visits the print room, the other will be given the opportunity to see the exhibition.

Participants will then walk to the Art Institute of Chicago, where they will have lunch before being guided through the AIC’s highlights, including the pieces from the Edlis Donation.

ANTIQUES & RESIDENTIAL CONTENTS TOUR
The tour will begin with Leslie Hindman Auctioneers. Participants will enjoy breakout sessions—choosing between ARC, Jewelry or Couture—before heading to the Art Institute of Chicago, where they’ll find themselves engaged in lectures on European Decorative Arts and Provenance, before getting the opportunity to explore the world-renowned institute.

We are excited to provide Assets 2017 attendees with auxiliary programming like this year’s Specialty Tours—just one more way to enhance your conference experience and advance your learning within the industry. Spouses/guests are invited to participate, but space is limited and is first-come, first served. Sign up for either tour during the registration process now while spots are still available.

* In the case of either tour, those in need of alternative transportation may contact ISA Headquarters for special accommodations.

What's Next for USPAP?

By Leon Castner, ISA CAPP

The Uniform Standards of Professional Appraisal Practice is updated every two years. The next revision will be effective as of January 1, 2018. Although it seems far away, it is only about a year before the new version is released. The Appraisal Standards Board (ASB) is on the second public draft of possible changes, all of which are provided to the public for review and comment. These issuances are called “exposure” drafts and are sent to appraisal organizations and users of appraisal services.

The second draft was released in August and is open for critique until the middle of October. It can be viewed on The Appraisal Foundation’s website. It would be an interesting and prudent decision to view the proposed document and see what is being discussed for the next USPAP. It includes the issue of providing draft reports to clients, one that many of us face in the personal property appraisal community.

This process provides transparency and inclusion. Although the appraisal organizations are encouraged to respond, many of the comments come from individual people. These singular views are treated with care and carry as much weight as any other opinion. We suggest you read the exposure draft because it will keep you informed of the issues percolating in the appraisal community, allow you to be able to discuss these issues with fellow appraisers, and involve you in the process of making significant and important changes to the profession you love.

The exposure document is easy to read and offers quick notes about specific changes. One can easily respond to all or part of it by emailing comments to asbcomments@appraisalfoundation.org. The comments are carefully reviewed, documented, and analyzed prior to formulating a third, and possibly final, exposure, which will also be open for review. All final changes will be voted on prior to the acceptance and implementation of the 2018-2019 version.