Sessions by Discipline

To find a session by discipline please click on a link below:

• Multidiscipline General Session
• Business Valuation Sessions
• Gems & Jewlery Sessions
• Machinery and Technical Specialties Sessions
• Personal Property Sessions
• Real Property Sessions

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Multidiscipline General Session
International Valuation Opportunities and Challenges
Monday, July 16

8:30 a.m.-11:15 a.m.
Lee P. Hackett, FASA, Executive Vice President, American Appraisal Associates; Alfredo Giorgana, ASA, President, Ingenieria y Avaluos, S.A. de C.V., Steve Williams, MAI, FRICS, Principal, Williams Murdoch, Inc.

A global view of international valuation opportunities and challenges, with a close look at international markets for multi-discipline capable service providers, especially for professional in Business Valuation, Machinery and Technical Specialties, Personal Property, Real Property and in Appraisal Review and Management.

The panel headed by Lee Hackett, FASA, will go into what matters and what is worth watching (valuation for Financial Reporting, International Valuation Standards, Uniform Standards of Professional Appraisal Practice, etc.) as our "neighborhood" becomes the globe!

The program will include a summary of the similarities and differences between various geographic and political areas in international markets (e.g., Asia, Europe, etc.) the opportunities for multi-discipline practitioners, and the challenges to overcome in the process of seizing those opportunities.

Learning Objectives:

• Be aware of the rapid change occurring in the growing international economies, especially as that change brings demand for professional valuations in all property types.
• Recognize the opportunity, and understand how your practice can benefit;
• Understand the challenges, and hear how they can be overcome.

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Business Valuation Session
Tuesday, July 17

8:30 a.m.—9:30 a.m.
IRS Update on Appraiser Penalties and the Valuation Process (Joint BV & RP Session)
Brenda Woolbert, Team Manager for Engineers and Appraisers, Internal Revenue Service; and Chuck Morris, Internal Revenue Service

The 2006 Pension Protection Act (HR4) may be the most important legislation affecting appraisers since Title XI of FIRREA. How will it impact your business? Was Circular 230 just the beginning? Get the straight scoop on potential application of appraiser penalties under §6695A and disbarment under Circular 230.

Learning Objectives:

Understand the IRS appraiser penalty process for tax-related assignments.

Learn IRS regulations and views on professional responsibility.

9:30 a.m.—10:30 a.m.
Getting a Handle on the Facts: Integrating Real Property and Business Valuations (Joint BV & RP Session)
Dennis A. Webb, ASA, MAI, MRICS, Principal, Primus Valuations

What ARE the facts, Watson? Real estate appraisal and business valuation come together when valuing asset holding companies and common tenancy interests. The two disciplines must connect not only with each other, but also with a wide range of facts and circumstances to produce defensible valuations. This session offers practical recommendations for connecting fact patterns with market data-and for crossing traditional discipline boundaries-to produce integrated, defensible fractional interest valuations. This session is suitable for all levels of practice.

Learning Objectives:

• Be able to identify asset-related facts and circumstances that influence discounts.
• Understand what makes the real property appraisal valuable to business appraisers.
• Understand what to look for/extract from real property appraisals.
• Improve the credibility and reliability of your discount value opinions.

10:30 a.m.—11:00 a.m.
Refreshment Break

11:00 a.m.—Noon
Valuation Discount
Ashok B. Abbott, ph. D, AM, Business Valuation LLC

Is the benchmark 35 percent DLOM now DOA? What have the last three years done to discounts for lack of liquidity (DLOL) and marketability (DLOM)? Is Bajaj right?

Discounts are one of the most contested areas in valuation litigation. The discount landscape is shifting rapidly from benchmarks to case-specific empirical defendable estimation.

This session introduces the new tools being developed and applied to determination of DLOM and DLOL. A comparison of the discounts allowed and allowable in recent cases using these methods is presented.

Learning Objectives:

• Be able to identify determinants of discounts.
• Understand the theory behind the quantitative models.
• Learn how to apply empirical models to case-specific situations.

Noon—1:30 p.m.
Lunch (on your own)

1:30 p.m.—3:30 p.m.
SFAS 141 Purchase Price Allocation Valuations
Mark Sarchet, Trenwith Valuation, LLC

Since its release in 2001, Financial Accounting Standard (SFAS) 141 has created a dramatic change in accounting for the assets and liabilities of acquired business enterprises. While much of the focus has been on its impact on business appraisers, SFAS 141 also increased the demand for fixed asset and real estate appraisals. This session offers an overview of the valuation and accounting implications of SFAS 141; it is suitable primarily for business valuation, real estate and MTS disciplines.

Learning Objectives:

• Receive an overview of key elements of SFAS 141.
• Review valuations performed by accounting teams and their experts.
• Become aware of possible changes associated with SFAS 141R.

3:30 p.m.—4:00 p.m.
Refreshment Break

4:00 p.m.—5:30 p.m.
The Income Approach to Valuing Small Businesses, Professional Practices and Sole Proprietorships
David A. Girbovan, ASA, President, Girbovan Inc. dba IntegraTech

Mr. Girbovan will present the fundamental methods used to appraise small businesses and professional practices, including the capitalization of income and the seller's discretionary cash flow methods. The treatment of unreported income, owners discretionary expenses and other adjustments will be discussed, along with the derivation of multiples and capitalization rates.

Other issues covered will include the importance of real property and machinery and equipment appraisals, sales multiples versus listing multiples, and economic obsolescence of machinery and equipment as reflected in the business appraisal.

Learning Objectives:

• Understand how and why the income approach is applied to small businesses.
• Learn what income streams are appropriate for different types of businesses.
• Appreciate the importance of communication among appraisers.
• Understand the sources of multiples and capitalization rates.

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Gems and Jewelry Sessions

Monday, July 16

8:30 a.m.—11:15 a.m.
Multidiscipline General Session

11:30 a.m.—1:15 p.m.
Optional Event: Membership and Awards Luncheon (ticket required) or lunch on your own (Open to all registrants, fee: $45)

Noon—1:00 p.m.
Optional Event: PR Training for Your Appraisal Practice
(Open to all registrants. Optional activity for those not attending the Membership and Awards Luncheon. Plan to get lunch on your own before or after the PR training session.) R.S.V.P. to Betty Snyder .

1:30 p.m.—3:00 p.m.
A Study of Hallmarks-French, Russian and Austrian
William B. Whetstone, Senior Director, Hallmark Research Institute; and Danusia Niklewicz, ASA, GG, FGA, ISA-CAPP, Hallmark Research Institute

The emphasis of this seminar is the correct identification and dating of French, Russian and Austrian hallmarks, and their influences on value and provenance, for appraisers, jewelry historians, collectors and dealers.

Learning Objectives:

• Gain an in-depth understanding of the hallmarks of France, Russia and Austria.
• Understand the affect of hallmarks on value and provenance.
• Learn the importance of hallmarks in appraisal documentation.

3:00 p.m.—3:30 p.m.
Refreshment Break

3:30 p.m.—5:30 p.m.
Advanced Hallmark Workshop
William B. Whetstone, Senior Director, Hallmark Research Institute; and Danusia Niklewicz, ASA, GG, FGA, ISA-CAPP, Hallmark Research Institute

This session begins with an in-depth analysis of important world hallmarks in the period of the mid 19th century to the 21st century. It continues with a discussion of recognition techniques and wraps up with a hands-on session including several hundred cut and piece examples. Loupes of 10x or better are required.

Participants are encouraged to bring any unusual and unknown hallmarks for session identification.

Learning Objectives:

• Gain an overview of important world hallmarks, past and present.
• Learn techniques for recognizing even difficult marks.
• Understand how to use available resources.
• Learn the various imagery techniques.

Tuesday, July 17

PR Training for Your Appraisal Practice
(Open to all registrants. Bring your continental breakfast with you, if you wish.) R.S.V.P to Betty Snyder.

8:30 a.m.—10:30 a.m.
Romanov or Rip-Off?
Gary L. Smith, ASA, Forensic Gemologist™, GG, AGS-CGA, AGA-ASG, Master Gemologist Appraiser®; PA Gem Lab

As an appraiser, are you sure that the lovely antique diamond engagement ring you just appraised really is an antique? Remember the two-carat princess cut in the custom setting you appraised two years ago? Now the unhappy couple is out front with two broken prongs and a missing diamond—blaming you!

Enter the exciting world of forensics!

You will walk through a case from this country's only forensic laboratory dealing with the industry and learn examination techniques that could save you dollars as well as your reputation. The session ends with a hands-on demonstration. Attendance limited; loupe required.

10:30 a.m.—11:00 a.m.
Refreshment Break

11:00 a.m.—Noon
A Signature: What's it Worth?
Diana Singer, GG

Noon—1:30 p.m.
Lunch (on your own)

12:15 p.m.—1:30 p.m.
Media Training-How to Come Across Best When Talking to the Press
(Open to all registrants. Box lunch provided.) R.S.V.P. to Betty Snyder by Tuesday, June 19. Arrive as your schedule permits.

1:30 p.m.—3:30 p.m.
A 19th-Century Timeline, Decade by Decade
Christie Romero, Center for Jewelry Studies

This session consists of two PowerPoint presentations on the 19th century that highlight five topics for each decade, putting gems and jewelry into context with notable historic events, inventions and discoveries, art movements and artists, fashion and trend-setting people, notable jewelers and typical jewelry styles of the decade.

Learning Objectives:

• Gain an understanding of why and how jewelry styles and materials were made and worn during the 19th century.
• More easily and precisely circa-date pieces of 19th century jewelry by associating it with fine art, history, inventions, fashion and people.
• Learn to make cause-and-effect connections between events, inventions/discoveries, societal trends, clothing styles and jewelry.
• Understand how styles evolve gradually over time by following the contextual threads through each decade of the 19th century.

3:30 p.m.—4:00 p.m.
Refreshment Break

4:00 p.m.—5:30 p.m.
A 19th-Century Timeline, Decade by Decade (continued)
Christie Romero, Center for Jewelry Studies

Wednesday, July 18

8:30 a.m.—10:30 a.m.
How to be an Effective Expert Witness
Phillip J. Kolczynski, Esq., Kolczynski Law Corporation

This session will address the following typical problems encountered by expert witnesses: forensic report writing, assisting attorneys as a consultant, functioning as a designated testifying expert, dealing with subpoenas, deposition and trial issues, how to win the battle of the experts, ethical issues for experts, special problems in dealing with attorneys and making sure to get paid.

Learning Objectives:

• Gain an understanding of ethical conduct for experts.
• Understand litigation issues related to reports and other written materials.
• Learn how to render persuasive expert opinions.
• Understand what makes a good expert.
• Learn about experts and the rules of evidence.

10:30 a.m.—10:45 a.m.
Refreshment Break

10:45 a.m.—Noon
Gemstone Treatment Update
Ric Taylor, Gemological Institute of America

This session will focus on the most important treatment processes currently in the gemstone market. Every commercially important gemstone used in jewelry will be addressed regarding the nature and identification of treatments that apply to them.

Noon—1:30 p.m.
Lunch Break (on your own)

1:30 p.m.—3:30 p.m.
Pearls
Ric Taylor, Gemological Institute of America

Capitalize on the booming pearl market by staying ahead of the latest trends and hottest topics affecting the pearl industry. This session will cover current advances in pearl formation and treatments, and how to recognize the value factors that describe pearl quality.

3:30 p.m.—4:00 p.m.
Refreshment Break

4:00 p.m.—5:30 p.m.
Identifying Synthetic Diamonds
Ric Taylor, Gemological Institute of America

Learn how standard gemological equipment can help you to identify HPHT-grown synthetic diamonds and distinguish them from natural diamond. This session will also provide insight into the identification of CVD-grown synthetic diamonds as well as how to easily separate synthetic moissanite and synthetic cubic zirconia from diamond.

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Machinery and Technical Specialties Sessions

Monday, July 16

8:30 a.m.—11:15 a.m.
Multidiscipline General Session

11:30 a.m.—1:15 p.m.
Membership and Awards Luncheon
(ticket required) or lunch on your own (Open to all registrants, fee: $45 a person)

Noon—1:00 p.m.
Optional Event: PR Training for Your Appraisal Practice
(Open to all registrants. Optional activity for those not attending the Membership and Awards Luncheon. Plan to get lunch on your own before or after the PR training session.) R.S.V.P. to Betty Snyder.

1:30 p.m.—3:00 p.m.
Interdisciplinary Financial Reporting Requirements
Douglas R. Krieser, ASA, MRICS, Valcon Partners Ltd.; and Jenni Adamstein, ASA, KPMG LLP

Valuing assets (both tangible and intangible) for financial reporting purposes requires an understanding of various accounting regulations, some of which are changing.

This session will briefly review the following Financial Accounting Standards Board statements:

• FAS 141R-Business Combinations (a replacement of FAS 141)
• FAS 144-Accounting for the Impairment or Disposal of Long-Lived Assets
• FAS 157-Fair Value Measurements

Our review of FAS 141R will be an update of the session presented two years ago on FAS 141 and FAS 142. We will review the requirements in general terms and provide an overview of the changes being considered.

Our review of FAS 144 will look at the statement in general terms and point out some of the unique aspects of valuing assets under this statement.

Our review of FAS 157 will look at the statement in general terms and go into some of the gray areas associated with the term fair value.

In addition to a review of the statements, this session will cover the requirements of those reviewing valuations performed for financial reporting. A series of sample review requirements and questions will be provided for discussion purposes.

Learning Objectives:

• Gain a brief understanding of FAS 141R, FAS 144 and FAS 157.
• Gain an understanding of how these standards affect tangible and intangible valuations.
• Gain an understanding of the expectations and requirements of those reviewing valuations performed for financial reporting.

3:00 p.m.—3:30 p.m.
Refreshment Break

3:30 p.m.—5:30 p.m.
Helicopters and the Sales Comparison Approach
Sharon Desfor, ASA; and Barry Desfor, HeliValue$ Inc.

Helicopters present a clear challenge to the appraiser: How do you account for flight hours on their components? What are the drivers of this quirky little market, and how do you estimate their impact on the bottom line? Where do Blue Book values really come from? Sharon Desfor, ASA, and Barry D. Desfor, publishers of The Official Helicopter Blue Book®, will enlighten you on these questions and present a cogent overview of valuing rotary-wing aircraft.

Learning Objectives:

• Understand the differences between helicopters and fixed-wing airplanes from a valuation perspective.
• Learn what's important in a helicopter appraisal as opposed to a fixed-wing appraisal.
• Identify the steps in valuing a helicopter.

Tuesday, July 17

7:30 a.m.—8:25 a.m.
PR Training for Your Appraisal Practice
(Open to all registrants. Bring your continental breakfast with you, if you wish.) R.S.V.P. to Betty Snyder.

8:30 a.m.—Noon
Choice of Two Educational Tours (Attendance is limited; sign up early.)

Tour 1: Fadal Machining Centers
Fadal Machining Centers specializes in building vertical machining centers (VMC) and rotary products, focusing on delivering the highest level of value possible to material-cutting customers.

More than 35,000 Fadal VMCs have been installed worldwide in the automotive, aerospace, marine, agricultural, medical and other industries to precisely cut metal, plastics and wood parts.

Fadal will give a presentation and a tour of the following parts of its operation: new machine showroom, machining room, grinding, flame hardening and quality control, assembly room and remanufacturing building.

Tour 2: Crush Creative
Crush Creative is a commercial graphic communication and imaging center that uses wide and superwide digital format printing equipment. The company is known for its enduring client relationships, personalized service and innovation. The company develops creative solutions and invests in the latest technology to execute any number of visual merchandising, point of purchase and imaging projects, from pre-media to final finishing, fulfillment and rollout.

Scott Desfor will guide a limited number of people a tour of this state-of-the-art printing facility and explain the different types of machines and processes.

Noon—1:30 p.m.
Lunch Break (on your own)

12:15 p.m.—1:30 p.m.
Media Training-How to Come Across Best When Talking to the Press
(Open to all registrants. Box lunch provided.) R.S.V.P. to Betty Snyder by Tuesday, June 19. Arrive as your schedule permits.

1:30 p.m.—3:00 p.m.
Case Study of CNC Machine Tool Valuation
Melvin I. Fineberg, ASA, Fineberg Consulting Service; Mike Clark, L&M Publications Inc.; and Dale H. Bracken, ASA

This is a follow-up session to the Fadal Machining Centers tour. The session will include a valuation of three to four CNC machine tools found at the Fadal facility. The valuation will include the cost and sales comparison market approaches to value. Included will be a discussion of identification techniques, estimates of replacement cost new, a review of depreciation estimates, an overview of the CNC market, discussion of market comparables, trade-in values and correlation of value.

Learning Objectives:

Learn proper techniques in identification of machinery, techniques for conducting a market search, techniques for talking to used machinery dealers, how to use market trends in a valuation analysis and techniques for correlating value.

3:00 p.m.—3:30 p.m.
Refreshment Break

3:30 p.m.—5:30 p.m.
Bankers and Appraisal User Requirements: A Session With the Big Banks
Panel presentation with Michael Petruski, Wachovia Capital Finance, Wachovia Bank N.A.; Robert B. Podwalny, FASA, Union Bank of California Commercial Banking Leasing; David E. Evans, ASA, Wells Fargo Business Credit; and Mark Rosenbaum, ASA, Citigroup

Learn what separates a merely acceptable report from one that exceeds expectations. The changing landscape of asset-based finance is dictating what lenders want to see in future appraisal reports.

A panel of internal appraisal reviewers for secured lenders will discuss the finer points of what lenders are looking for in appraisal reports. Presentation, clear language and well-supported assumptions are all elements of a well-received report for secured financing purposes. The better appraisers are continuously being asked to meet higher standards and keep informed of current market trends.

Learning Objectives:

• Understand what goes into a first-quality report.
• Learn the difference between data and information.
• Study how better appraisers answer questions before they are asked, which saves time and makes everyone's job easier.
• Understand how lenders address risk in appraised asset values.

Wednesday, July 18

8:30 a.m.—9:30 a.m.
Research and Data Base
William M. Engel, ASA, Strategic Asset Management

Not all equipment research is created equal. Accurate information is vital in order to form a basis for an opinion of value, but how does an appraiser obtain that information? How does an appraiser know the information is accurate? This session will provide equipment research tips and tricks of the trade to help appraisers not only choose the right sources, but also have a comfort level with the information obtained.

Learning Objectives:

• Learn what you need to know.
• Determine the most accurate sources.
• Know the right questions to ask.
• Know how to ask the right questions.
• Know how to deal with reluctant sources.

9:30 a.m.—10:30 a.m.
Identification and Assessing Value of Thomson Grass Valley Equipment
Tim Ordaz, Director Professional Services Sales and Marketing, Thomson/Grass Valley

Grass Valley is a leading manufacturer of broadcast, film and compression systems used by the world's leading television, post-production and multi-channel service providers. This session will help the appraiser/attendee identify and assess value to the wide variety of Grass Valley products encountered at these types of facilities. Topics covered will include a brief overview of the markets served by Grass Valley, a review of Grass Valley's product portfolio and tools and tips for assessing value.

Learning Objectives:

• Gain an understanding of broadcast, media and entertainment markets as related to enabling technology.
• Gain exposure to the Grass Valley brand product portfolio to aid in recognition of products in the field.
• Learn determining factors of market value for these types of products.

10:30 a.m.—11:00 a.m.
Refreshment Break

11:00 a.m.—Noon
2007 Appraisal Challenges: An OTS Perspective
Bruce L. Thorvig, MAI, Office of Thrift Supervision, U.S. Department of Treasury

Learn how the Office of Thrift Supervision (OTS) supervises savings associations and their holding companies in order to maintain safety, soundness and compliance with consumer laws and to encourage a competitive industry that meets America's financial services needs. Thorvig will describe the OTS vision and priorities.

Noon—1:30 p.m.
Lunch Break (on your own)

1:30 p.m.—3:30 p.m.
International Valuation Standards
David Fawcett, FRICS, Sanderson Weatherall

Compare and contrast International Valuation Standards with RICS Red Book, USPAP and ASA valuation bases (along with International Accounting Standards Board and FASB). Learn how valuation bases fit with IFRS 1 and 3, and FASB 157 and 141. In addition, find out what fair value is (or may be) and why we should have national as well as international valuation standards.

Learning Objectives:

• Learn and understand the similarities among and differences between valuation standards.
• Increase your understanding of what fair value is.
• Learn the latest thinking on how fair value should be measured.
• Leave with a glossary of comparative terms.

3:00 p.m.—3:30 p.m.
Refreshment Break

3:30 p.m.—5:30 p.m.
Global Arbitrage in Secondary Machinery Markets
Ross M. Dove, Executive Chairman, DoveBid

What factors create significant cross-border value arbitrage? Hear all about how low-cost manufacturing, corporate outsourcing and Internet information have brought us all closer together.

Learning Objectives:

• Gain a better understanding of world markets.
• Expand your knowledge about sources to use to glean world market data.

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Personal Property Sessions

Monday, July 16

8:30 a.m.—11:15 a.m.
Multidiscipline General Session

11:30 a.m.—1:15 p.m.
Optional Event: Membership and Awards Luncheon (ticket required) or lunch on your own (Open to all registrants, Fee: $45 per person)

Noon—1:00 p.m.
Optional Event: PR Training for Your Appraisal Practice
(Open to all registrants. Optional activity for those not attending the Membership and Awards Luncheon. Plan to get lunch on your own before or after the PR training session.) R.S.V.P. to Betty Snyder.

1:30 p.m.—5:30 p.m.
Educational Tours (transportation provided)
The Museum of Contemporary Art
Cathedral of Our Lady of the Angels
Walt Disney Concert Hall

2:00 p.m.—3:15 p.m.
The Museum of Contemporary Art Guided Tour

Home to one of the country's finest collections of American and European art created since 1940, the Museum of Contemporary Art (MOCA) currently holds 5,000 objects in all visual media, from masterpieces of abstract expressionism and pop art to recent works by young and emerging artists. The collection includes works by Franz Kline, Roy Lichtenstein, Claes Oldenburg, Robert Rauschenberg, James Rosenquist, Mark Rothko, George Segal, Alberto Giacometti, Arshile Gorky, Piet Mondrian, Jackson Pollock, Dan Flavin, Ellsworth Kelly, Julian Schnabel, Joel Shapiro, Frank Stella and Cy Twombly.

Special exhibits that will be running are "WACK! Art and the Feminist Revolution" and "The Art of Richard Tuttle."

3:30 p.m.—4:00 p.m.
Walt Disney Concert Hall: On Your Own

Dedicated in 2004, the Walt Disney Concert Hall by Frank Gehry is likened in spirit and form to his Guggenheim Museum in Bilbao, Spain. It is a soaring titanium, glass, steel and wood structure towering over 3.4 acres, situated between MOCA and the Cathedral of Our Lady of the Angels. It's easy to explore on your own and don't forget to see the hall's outdoor gardens.

4:00 p.m.—5:15 p.m.
Cathedral of Our Lady of the Angels Guided Tour

Dedicated in 2002, the cathedral is home to the Los Angeles Diocese serving more than 4 million Catholics in 42 different languages. No place else on Earth can a cathedral boast this degree of diversity. From the beginning, its construction was controversial. Critics questioned the wisdom of spending $220 million on a building in a city of poor, homeless and needy people.

Spanish architect José Rafael Moneo designed the cathedral, which sits on 5.6 acres, bound by the Hollywood Freeway. The interior, flooded by light from more than 10,000 alabaster windows, is home to both fine and decorative arts, including bronze works by renowned sculptor Robert Graham, 22 tapestry panels by California artist John Neva, 100-year-old stained glass windows from Justin Studios in Los Angeles, and a Spanish 16th-century baroque altar screen.

6:30 p.m.—8:30 p.m.
An Evening at Gemini Gallery: A Special Offering
Contact: Sheryl Gillett, ASA at (949)715-2626 or email:sherylgillett@cox.net. Limited to 25 people; sign up early if interested.

Tuesday, July 17

7:30 a.m.—8:25 a.m.
PR Training for Your Appraisal Practice
(Open to all registrants. Bring your continental breakfast with you, if you wish.) R.S.V.P. to Betty Snyder.

8:30 a.m.—9:45 a.m.
Forgeries in the California Painting Market; What to Look for, What to Avoid
Scot Levitt, Director, Fine Arts, Bonhams and Butterfields

When asked, many people will reply that their favorite school of painting is Impressionism. California Plein Air is the Golden State's answer to this popular painting movement. As with many regional expressions, Plein Air's star dimmed after its initial popularity in the early 20th century until the 1980s when interest was resumed with a groundbreaking retrospective presented by the Oakland Museum. Soon after, a group of high-profile collectors began buying examples wherever and whenever available. Today, Plein Air paintings from noted artists such as Guy Rose sell in the high six figures. Learn about the evolution of this movement from Scot M. Levitt, director, Fine Arts, Bonhams and Butterfields in Los Angeles and San Francisco.

9:45 a.m.—10:45 a.m.
Chicano Art
Panel Presentation with Armando Duron, Tomas Benitez and Sybil Venegas; Moderator: Patrick Ela, AM

Chicano art is a dynamic part of the contemporary art scene. Gallery and museum exhibitions abound, and growing collections of Chicano art are now found in both domestic and international museums. The greater Latin American community combines political and economic strength with a dynamic cultural and aesthetic consciousness. What is Chicano art? What does it encompass and what do appraisers need to know about its artistic value? Our panel of collectors, institutional leaders and professors will discuss Chicano art from a historical and practical perspective.

Moderator Patrick H. Ela, AM, art consultant, independent curator and former museum director has organized numerous exhibitions and has written on and appraised Chicano art.

Panelists:
Tomas Benítez, former Director of Self-Help Graphics and Art, consultant, funding board member, Latino Arts Network; member, Los Angeles County Arts Commission; and Director of Development, Plaza de la Raza, Los Angeles

Armando Durón, president, Self-Help Graphics and Art; collector of Chicano art, ephemera and books on Chicano art; author

Sybil Venegas, curator, art historian, author and professor of Chicano studies, East Los Angeles College

10:30 a.m.—11:00 a.m.
Refreshment Break

11:00 a.m.—Noon
Driving on the Edge: The Custom Car Culture of California
Panel Presentation with Nicholas Fintzelberg, ASA, Ph.D.; David H. Kinney, ASA; George Barris, Custom King; Moderator: Deane Fehrman, FASA

No other city in the United States has been more defined by car culture than Los Angeles. From highways to freeways, Los Angeles is rooted in the neighborhoods created by our transportation byways. Cars are more than just transportation here. What you drive is an advertisement for your personality, politics and aesthetics. Learn about these mobile art forms as we explore cars of all shapes and sizes, from classic to custom, with the automotive specialties experts.

Noon—1:30 p.m.
Lunch Break (on your own)

12:15 p.m.—1:30 p.m.
Media Training-How to Come Across Best When Talking to the Press
(Open to all registrants. Box lunch provided.) R.S.V.P. to Betty Snyder by Tuesday, June 19. Arrive as your schedule permits.

1:30 p.m.—5:30 p.m.
Educational Tours (transportation provided) Los Angeles County Museum of Art and Museum Row

Los Angeles County Museum of Art
One of the largest museums in the United States, the Los Angeles County Museum of Art (LACMA) has a wide and varied group of collections including African art, ancient Near Eastern art, art of the ancient Americas, art of the United States, Chinese art, contemporary art, costume and textiles, decorative arts, Egyptian art, European painting and sculpture, German expressionist art, Greek and Roman art, Islamic art, Japanese art, Korean art, modern art, photography, prints and drawings, and South and Southeast Asian art.

2:00 p.m.—3:00 p.m.
Highlights of the Collection: Treasures of LACMA's Japanese Art Pavilion
Robert T. Singer, Japanese Art Curator, Department Head.

The Pavilion for Japanese Art contains a world-class collection of Japanese paintings, sculpture, ceramics, and lacquers, as well as netsuke from the Raymond and Frances Bushell collection. Learn about the highlights of the collection from renowned expert and department head, Rob Singer.

Wednesday, July 18

8:30 a.m.—9:30 a.m.
Fakes, Lies and eBay: Confessions of an Art Forger
Kenneth Walton, Author

As appraisers, we now use eBay for collectibles that it often took us days to research before. But what about the market information from eBay? Is it reliable? Are the postings accurate? How often are the objects that are offered fake? Kenneth Walton was a successful eBay forger until he sold a painting to which he had added a signature "RD52." He knew buyers would think it was an early Richard Diebenkorn. And they did. The painting sold for $140,000. How did he do it? Who else was complicit? What can we learn as appraisers from his story? A discussion of the book Fake: Forgery, Lies and eBay, will focus on its cautionary messages for professional appraisers, followed by a question-and-answer dialog with attendees.

Learning Objectives:

Recognize the challenges posed by eBay as a vast marketplace of unvested art, antiques and collectibles.

Understand tricks used by eBay sellers to pass off fakes and forgeries.

Learn how to educate clients who shop online.

9:30 a.m.—10:30 a.m.
Delving Into Aphrodite's Past: The Getty's Troubled Goddess
Los Angeles Times Staff Writers Ralph Frammolino and Jason Felch

In 2006, Los Angeles Times investigative reporters Ralph Frammolino and Jason Felch began to follow the trail of the 2,400-year-old-Getty Aphrodite. That trail led them to a cache of evidence suggesting that the statue, a centerpiece of the Getty's antiquities collection, had been looted. Despite several warnings against the acquisition by noted experts, the Getty paid a record $18 million in 1987. The statue is one of several acquisitions for the Getty that has raised ethical questions regarding identity and purchase.

10:30 a.m.—11:00 a.m.
Refreshment Break

11:00 a.m.—Noon
Entertainment Memorabilia: From Marilyn to Star Trek
Joe Maddalena, Owner, Profiles in History Auction House.

What is entertainment memorabilia and why would someone pay $750,000 for a little black dress? Movie posters, props, costumes, set designs, scripts, photographs, musical instruments, automobiles and more are all items for which collectors fork over huge sums of money. Find out how provenance affects the value of objects from the ephemeral and mundane to the outlandish and bizarre. Learn about the characteristics of value in this market that grows every year. Learn what's hot, what's not and what's fake.

Noon—1:30 p.m.
Lunch Break (on your own)

1:30 p.m.—2:30 p.m.
Appraising Public Art: A Case Study of the Los Angeles Appraisal Project
Pat Gomez, Arts Manager, Public Art Division, City of Los Angeles, Department of Cultural Affairs Panel presentation includes Erica Voogd-Phillips, AM; Nancy Martin, ASA; Nancy Escher, ASA; and Jackie Silverman

The City of Los Angeles' art collection includes an eclectic array of paintings, drawings, photography, park statues and memorials. Special subcollections of interest vary from Hollyhock House furnishings and plein-air paintings to historical mayoral portraits and contemporary art. This panel session includes an overview of the three-year appraisal project with Art Collection Manager Pat Gomez, who will share the evolution of the project, surprises and outcomes. Members of the appraisal team will share highlights of their experiences.

2:30 p.m.—3:00 p.m.
Refreshment Break

3:00 p.m.—4:00 p.m.
Lost and Found: Japanese American Photographs
Dennis Reed, Ph.D.

In the 1920s and 1930s, just prior to World War II, California's Japanese immigrants took up art photography in large numbers. Primarily active in Los Angeles and San Francisco, these photographers created adventurously modern work that reflected their artistic and cultural heritage. Learn about this brief, early photographic movement that left a striking body of photographic work which has only recently been rediscovered.

4:00 p.m.—5:00 p.m.
Sam Maloof: An American Icon
Holly Mitchem, ASA; and Stephen Caudana, ASA

Sam Maloof is the most renowned furniture maker working in the United States today. Recipient of a MacArthur Fellow Award in 1983, he has elevated the craft of woodworking to fine art with examples of his work, now found in all the major museums in the United States. His rockers have been owned by every U.S. President since Richard Nixon. In the 1990s, the County of San Bernardino planned a portion of a major freeway through Maloof's property and residence. This began a process of appraising his home and workshop as part of an eminent domain seizure. Learn about the particular challenges of an eminent domain assignment through this case study.

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Real Property Sessions

Monday, July 16

8:30 a.m.—11:15 a.m.
Multidiscipline General Session

11:30 a.m.—1:15 p.m.
Membership and Awards Luncheon (ticket required) or lunch on your own

Noon—1:00 p.m. Optional Event: PR Training for Your Appraisal Practice
(Open to all registrants. Optional activity for those not attending the Membership and Awards Luncheon. Plan to get lunch on your own before or after the PR training session.) R.S.V.P. to Betty Snyder .

1:30 p.m.—5:30 p.m.
Loss Prevention and Limiting Appraiser Liability Claudia Gaglione, Attorney, Gaglione & Dolan; and Todd Stevens

Two attorneys who specialize in the defense of real estate professionals will discuss the most common claims made against appraisers and who makes those claims. Through numerous real-life claims examples, attendees will learn loss- prevention tips and ideas that can help reduce liability exposure as well as some of the most effective defenses to an appraiser claim, how to handle state board complaints and some unique issues surrounding expert liability.

Learning Objectives:

• Learn the most common (and avoidable) mistakes appraisers make that can lead to claims.
• Learn how appraisers can better handle high-risk activities and avoid or lessen claims.
• Get tips on what every appraiser can do to be more defensible in the event a claim is made.

3:15 p.m.—3:30 p.m.
Refreshment Break

Tuesday, July 17

7:30 a.m.—8:25 a.m.
PR Training for Your Appraisal Practice
(Open to all registrants. Bring your continental breakfast with you, if you wish.) R.S.V.P. to Betty Snyder .

8:30 a.m.—9:30 a.m.
IRS Update on Appraiser Penalties and the Valuation Process (Joint BV & RP Session)
Brenda Woolbert, Team Manager for Engineers and Appraisers, Internal Revenue Service; and Chuck Morris, Internal Revenue Service

The 2006 Pension Protection Act (H.R. 4) may be the most important legislation affecting appraisers since Title XI of FIRREA. How will it impact your business? Was Circular 230 just the beginning? Get the straight scoop on the potential application of appraiser penalties under §6695A and disbarment under Circular 230.

Learning Objectives:

• Understand the IRS appraiser penalty process for tax-related assignments.
• Learn IRS regulations and views on professional responsibility.

9:30 a.m.—10:30 a.m.
Getting a Handle on the Facts: Integrating Real Property and Business Valuations(Joint BV & RP Session)
Dennis A Webb, ASA, MAI, MRICS, Principal, Primus Valuations

What ARE the facts, Watson? Real estate appraisal and business valuation come together when valuing asset holding companies and common tenancy interests. The two disciplines must not only connect with each other, but with a wide range of facts and circumstances, to produce defensible valuations. This session offers practical recommendations for connecting fact patterns with market data, and for crossing traditional discipline boundaries to produce integrated, defensible fractional interest valuations. This session is suitable for all levels of practice.

Learning Objectives:

• Be able to identify asset-related facts and circumstances that influence discounts.
• Understand what makes the real property appraisal valuable to business appraisers.
• Understand what to look for/extract from real property appraisals.
• Improve the credibility and reliability of your discount value opinions.

10:30 a.m.—11:00 a.m.
Refreshment Break

11:00 a.m.—Noon
Conservation Easement Valuation for Federal Tax Purposes
JoAnn Cutler, Internal Revenue Service; and Paul Rowan, ASA, Real Property Appraiser, Property Analysis

This session will cover conservation and façade easement appraisals made in conjunction with current federal regulations. Additional viewpoints on commonly encountered appraisal practice and important distinctions for appraisers looking to produce credible work will also be presented.

Learning Objectives:

• Understand the distinction between tax-purpose and other easement valuation assignments.
• Realize the importance of identifying and understanding facts pertinent to your easement valuation assignment.

Noon—1:00 p.m.
Lunch (on your own)

12:15 p.m.—1:30 p.m.
Media Training-How to Come Across Best When Talking to the Press
(Open to all registrants. Box lunch provided.) R.S.V.P. to Betty Snyder by Tuesday, June 19. Arrive as your schedule permits.

1:00 p.m.—3:30 p.m.
Intro to Stats and Graphs for Appraisers
Steven R. Smith, MAI, SRA, Smith Realty Advisors; and George Dell, MAI, Valuemetrics Inc.

Market-specific price indexing provides the answer to professional compliance, as well as underpinning forecasting and investment alternatives. Combining graphical and simple statistical measures, the appraiser can enhance the analytics as well as reporting.

This session provides an overview of the author's two-day hands-on workshop. It outlines the solution to the analytical problems caused by rising, falling, bottoming and peaking markets. It emphasizes the importance of appraiser experience in applying modern data analytics, as enabled by computer power and software packages.

Using simple Excel formulas, students will learn how to create supply and demand, value trends, DOM graphs and charts to use in reports and newsletters.

Learning Objectives:

• Examine review statistics.
• Study scatter graphing.
• Investigate simplifying regression and other scary stuff.
• Learn forecasting fundamentals.
• Overcome the fear of Excel.
• Learn three basic formulas.
• Create graphs with multiple trend lines.

3:30 p.m.—4:00 p.m.
Refreshment Break

4:00 p.m.—5:30 p.m.
Real Estate Damages
Randall Bell, MAI, Bell Anderson & Sanders LLC

There are a variety of detrimental conditions that can impact property values, such as hurricanes, floods, environmental contamination, crime scene stigma, landslides and terrorist attacks. In all, there are 10 distinct categories of detrimental conditions, each with identifiable characteristics. This session will address each of the 10 categories of detrimental conditions, point out some of their important attributes and address the Detrimental Conditions Matrix, which can be used to determine the impact, if any, upon a property's value. Several actual case studies will be discussed.

Learning Objectives:

• Understand the vast number of detrimental conditions.
• Put all detrimental conditions into one of 10 categories.
• Use the Detrimental Conditions Matrix to facilitate an organized analysis of damaged property.

Wednesday, July 18

8:30 a.m.—5:30 p.m.
Specialized Residential Property Practice
Seizing Opportunity-Avoiding a Mess
Claudia Gaglione, Attorney, Gaglione & Dolan; Greg Harding, Chief- Licensing/Enforcement, CA-OREA; Carmen Brown, ASA; Karen Mann, ASA, SRA; and Jeff Hays, ASA; Moderator: W. David Snook, FASA

The panel's objective is to inform appraisers, in a serious but entertaining manner, about how to expand their residential appraisal business while avoiding unnecessary risk.

Learning Objectives:

Learn how to appraise residential property in difficult market segments (e.g., volatile or declining markets, rural/suburban real estate and high-end, one-of-a-type homes).

Hit the critical subject and market research elements that make appraising these properties "different" from the vanilla residential appraisal assignment.

10:30 a.m.—10:45 a.m.
Refreshment Break

Session Continued
10:45 a.m.-12:30 p.m.

Learn to critique such an appraisal (a dummy one, made especially for this panel's presentation, but truly representative of what the panel members have seen in reviews), pointing out the good, the bad and the downright ugly.

Note: The example appraisal report will look "OK" to a superficial reader, but will expose three flaws: a research flaw—a missed "good" comparable; an analysis flaw—overlooking the contributory value of a non-residential use improvement; and a reporting flaw-failure to clearly state an extraordinary assumption about either an access problem or a water supply problem.

The three flaws are too often seen when an appraiser accustomed to working in a tract housing or urban housing market ventures into the more challenging (and rewarding) assignments seen in specialized residential property practice.

12:30 p.m.—1:30 p.m.
Lunch Break (on your own)

Session Continued
1:30 p.m.-3:30 p.m.

Witness a mock hearing-the appraiser under inquiry. This will be conducted in a sequence similar to an actual hearing, with "experts" providing "what's wrong, what should be or should have been done" testimony. The objective in this segment is to make the audience familiar with how hearings are conducted and how information is developed, presented and used in the hearing process.

3:30 p.m.—3:45 p.m.
Refreshment Break

Session Continued
3:45 p.m.-5:30 p.m.

A "How To Avoid Such A Mess" clinic will use the results of the mock hearing/trial. It will include 30-minute presentations by:

An E&O representative (Claudia Gaglione)

A CA-OREA representative (Greg Harding)

A couple of "real" appraisers (Karen Mann, ASA; and Jeff Hays, ASA)

The closing sequence is a wrap-up with questions from the audience and answers from the panel members.

Learning Objectives:

Find out what makes certain kinds of residential properties "different" and how those differences affect the scope of work.

Learn from subject matter experts just what it is that makes appraising these kinds of property worthwhile.

See how an "innocent" appraiser can get sideways when he or she does not realize the difference.

Hear how being prepared helps avoid the pitfalls and, better yet, makes residential appraising interesting and profitable.