Dear Members,
All of us with American Society of Appraisers, NorCal Chapter are distressed over the fires that have taken lives, and consumed homes and businesses in our beautiful state. We are aware that the destruction from the deadly fires has seriously affected many of our NorCal members, their families and friends. To those who experienced loss from these wildfires, we extend our heartfelt sympathies. To all others we urge you to donate to the charity of your choice (see donation button above) and ASA NorCal will match the donations up to $1,000.00.As you will see from our newsletter below, the ASA NorCal board has worked diligently to develop continuing education programs and events of interest for our members. We welcome your ideas and thoughts. You can contact your Discipline Director or me and we will be happy to hear from you. Contact information is at the bottom of this newsletter and on our website.
Thank you,
Louise Allrich, ASA |
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 UPCOMING EVENTS
November 1 – Chapter Dinner Meeting, Oakland – “Evaluating Risk”
Join us for dinner at Oakland’s Lake Chalet restaurant for a discussion with UIB Insurance Brokerage founder David Forsyth. We all saw the widespread destruction and loss brought by the recent wine country fires. “Evaluating Risk†is an important insurance topic for appraisers to understand. David will throw light on how insurers evaluate risk, highlighting factors to think about before a loss or business disruption occurs. What do high net worth individuals need to consider when insuring the assets they care about? How are businesses prepared for unforeseen disruptions? David will share his expertise from the world of insurance brokerage and present ways to guard against future losses.
As we discuss these important issues, please join us in supporting the following organizations that are helping those impacted by the recent fires:
The Napa Valley Community Foundation (http://www.napavalleycf.org/)
The Redwood Empire Food Bank (http://refb.org/)
Pets Lifeline, Sonoma, CA (http://www.petslifeline.org )
You can donate for all three of these groups when you register for the dinner online. The ASA NorCal chapter will match the donations, up to $1,000.
When: Wednesday, November 1, 2017 at 6:15 PM
Where: Lake Chalet, 1520 Lakeside Drive
Oakland, California 94612
REGISTER: http://www.ASANorCal.org/rsvp-nov |
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Nov. 9, 2017 – Becoming A Forensic Consultant: Your Next Career, San Francisco
The Forensic ​Expert ​Witness ​Association (FEWA), along with our chapter, will co-sponsor an ​opportunity ​for appraisers to learn more about the work of forensic consultants. All ​are ​invited ​to ​join ​us ​for ​this ​basics ​course ​titled ​”Becoming ​a ​Forensic ​Consultant: ​Your ​Next ​Career.” ​Starting at 12:30 in San Francisco, this ​will ​be ​a ​3-hour ​session ​led ​by ​experts ​from ​different ​fields covering the basics of how to embark on a career as an expert witness, how to enhance your visibility to new clients and what are the best practices in the field. Admission is ​$199.
 When: Thursday, November 9, 2017, 12:30 – 5:00pm
Where: 575 Market St, San Francisco
REGISTER: http://www.asanorcal.org/FEWA/
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Nov. 10-12, 2017 – Evaluating Time: How to Research, Identify and Value Wrist and Pocket Watches
We are pleased to announce that Evaluating Time: How to Research, Identify, and Value Wrist and Pocket Watches will be held November 10-12, 2017 in San Francisco, CA. Taught by horologist Adam Harris, this course gives an overview of the evolution of watch types and appropriate terminology and criteria for making value judgments based on comparative analysis. Participants will learn the correct methods to identify watch types, key components, and characteristics and to evaluate authenticity, originality, condition, quality, and desirability. Participants will learn proper examination techniques, what to photograph, and research tools and methods as well as how to apply critical appraisal skills, such as qualitative ranking, classification, rarity determination, and how to write accurate descriptions.
When: Friday-Sunday, Nov. 10-12, 2017 8:30-5:00pm
(end at 3:30pm Sunday)
Where: 442 Post Street, San Francisco, CA
Registration Fee: $875 *discount available if sending two or more staff
REGISTER: email info@luxuryorlie.com or call 717-471-3828
The course is filling up quickly and only a few spots remain, so be sure to register soon if you are interested in attending.
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Nov. 14 -ASA Annual Fair Value BV Conference, San Francisco
The 9th Annual Fair Value Conference will be held on Tuesday, November 14, 2017. The conference agenda will cover a range of fair value measurement and valuation topics, including: ASC 718, equity allocation valuation models, the audit review process, CEIV, fair value of minority interests, intellectual property transaction trends, revenue recognition and lease accounting, and other current and future expected trends regarding AICPA, FASB, SEC and international accounting standards.
When: Tuesday, November 14, 2017, 8:00 am – 5:00pm
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Feb. 27 – Working with Galleries (Part 2), Minnesota Street Projects, San Francisco
Due to the enthusiastic reception, excellent attendance and participation by art appraisers, gallerists and museum staff at our previous event, we are continuing the conversation by popular demand about how we collaborate to support the artists and galleries with accurate research and analysis when works of art are valued for charitable donation (IRS), sales advice, insurance coverage, estate tax (IRS), gifting (IRS) and damage claims.
Gallerists Trish Branst en of Rena Bransten Gallery and Modernism’s Martin Muller, along with others will join a panel with Fine Art ASAs Tony Pernicone and Jeremy Stone to explore the delicate boundaries of private sales, the use of the internet and auction sales data, and best practices for obtaining the most accurate artist sales information at both the auction and gallery market levels. We will look at the cooperation between accredited appraisers and galleries in assisting collectors, artists and estate attorneys – work that simultaneously requires building trust and fostering long term relationships.
When: Tuesday, February 27, 2018
Where: Rena Bransten Gallery, 1275 Minnesota St, San Francisco, CA 94107
Registration details coming soon. |
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RECENT EVENTS
Hallmarks Research Institute presentation is ASA’s largest Gems & Jewelry event, September 6, San Francisco
The NorCal Chapter co-sponsored this discussion of hallmarks, focusing on signatures and trademarks of master jewelers and silversmiths. On Sept. 6, the Hallmarks Research Institute (HRI) presented an insightful overview of the maker’s marks seen on jewelry and decorative arts produced by some of the world’s most renowned firms, including Faberge, Boucheron, Bulgari and Tiffany, among others. The well-attended event was the largest Gems & Jewelry event for the ASA nationwide. The authors of volume II of H RI’s comprehensive guide to world hallmarks, Lindy Matula, ASA, Danusia Niklewicz, ASA and William Whetstone, were on-hand to sign books and answer questions.
Speaking to an audience of about 50 from across the gems & jewelry and personal property fields, representing a number of appraisal organizations and co-sponsor, the Gemological Institute of America (GIA), Danusia and Bill discussed the challenges of finding hallmarks on intricate, small pieces of jewelry and recounted experiences with questionable hallmarks they have encountered in their careers. Of particular interest was their discussion of spurious hallmarking on Faberge pieces, which was illustrated by comparing images of fraudulent marks to genuine ones. Danusia and Bill concluded their talk with valuable recommendations for appraisal research sources, particularly the Antique Jewelry University, a “dynamic online encyclopedia†created by San Francisco’s Lang Antique & Estate Jewelry. |
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13th Annual Jerry A. Kasner Estate Planning Symposium, September 7 & 8, Santa Clara
ASA National’s Business Valuation Committee exhibited at the Kasner Estate Planning Symposium on September 7th, sponsored by Santa Clara  University’s School of Law. There were about 560 attendees, mostly attorneys and some CPAs. NorCal member James Brown, ASA was on hand to explain the role of the ASA as an accrediting organization. The event was a good opportunity to educate people about the ASA and the importance of hiring an accredited appraiser.
NorCal BV appraiser James O. Brown, ASA is a business valuation consulting partner with Perisho Tombor Brown. Jim is the chair of ASA’s Business Valuation Discipline Marketing Subcommittee. Jim managed ASA’s booth by answering questions, distributing handouts and branded giveaways and promoted the benefits of hiring designated members to the attending estate planning attorneys, accountants, certified life underwriters, bank trust and investment officers, financial advisers and wealth planning professionals. Fellow ASA BV appraisers, Scott Nammacher, ASA and William Johnston, ASA from Empire Valuation Consultants, sponsored their own booth next to ASA’s booth.
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Storytelling at the ASA Norcal Lunch Chapter Meeting, September, San Francisco
 The September chapter meeting at the University Club in San
Francisco featured a presentation from Beyond Borders
Storytelling on how to construct a narrative, keep an audience 
engaged and introduce a dramatic arc to
everyday tales.
Attendees worked together to practice their storytelling skills over lunch during the afternoon gathering. Pictured at right are chapter members Claire Peña and Liza Hickey, ASA |
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 An evening of frames and gilding at Aedicule, September 28, San Francisco
Personal Property members and invited guests experienced a great hands-on seminar with a real master and historian in the framing field – Peter Werkhoven of Aedicule in San Francisco. During Peter’s engaging presentation, we were able to watch him work on a frame by Pierre Auguste Renoir and view his collection, which included a frame by another French Impressionist, Edgar Degas. It was a valuable learning experience. Two appraisers flew up from Southern California, so we had a diverse and engaged group. One attendee praised the event, calling it “possibly the most interesting ASA seminar I’ve attended.” |
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International Appraisers Conference & Advanced BV Conference, October 7, Houston
Despite the upheaval brought by Hurricane H arvey, the ASA’s joint Advanced Business Valuation and International Appraisers Conference opened as scheduled on October 7 in Houston. Attendees enjoyed a number of topical breakout sessions on a variety of subjects, as well as many special events, including tours of Minute Maid Park (home of the Houston Astros) and the Museum of Fine Arts, Houston. ASA NorCal received two chapter awards, for Outreach Programs and Membership Recruitment Strategy from ASA National president Sharon Desfor. Pictured are Al Statz, ASA and Bharat Kanodia, ASA, our new BV Discipline Chair, accepting two Chapter Awards from ASA National President, Sharon Desfor, ASA on behalf of the ASA NorCal Chapter at the International Conference in Houston, Texas this October.
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Rising Stars Happy Hour & LinkedIn Presentation, October 24, San Francisco
This year’s Rising Star networking event on October 24th at the University Club featured a presentation from LinkedIn expert Christine Hueber, who present strategies for members to make the most of their online presence. In addition to the presentation, The NorCal chapter hosted a happy hour to bring young “Rising Star” members together with more “seasoned” members for an evening of conversation and new connections.
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San Francisco Fall Art & Antiques Shows, October 25-29
For the second year, the ASA was a Cultural Partner of the Fall Art & Antique Show at San Francisco’s Fort Mason. This year’s theme, “Flower Power,” celebrated floral imagery in art, antiques and design. ASA members received free general admission tickets to the three day show, where a select group of 51 international art and antiques dealers presented the best of the best from a wide range of styles and eras.
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Chapter & Member News
New additions to the NorCal Board…
The new vice president of the NorCal board is former Business Valuation Discipline Director Joe Orlando, ASA of Frank, Rimmerman & Co. Bharat Kanodia is stepping into the Buisness Valuation director role, and Howard W. (Wally) Fry will be joining the board as the Appraisal Review & Management Discipline Director.
Vice President Joe Orlando, ASA is a director at Frank, Rimerman + Co. LLP and leads the Business Valuation Services practice. In addition to managing the practice, Joe focuses on fundamental valuation for tax and financial reporting purposes. He has over 30 years of professional experience as a fundamental valuation expert, investment  banker and financial analyst. Joe also has a broad background in corporate finance, mergers and acquisitions, investment banking, business development and corporate strategic planning. His industry expertise includes wineries/craft beverages, technology and life sciences.
BV Director Bharat Kanodia, ASA is director of valuations at Ipreo, San Francisco, where he leads private equity and venture valuations, and helps valuation firms optimize thei r international operations. He has worked with Ipreo, American Appraisal, Veristrat, and Silicon Valley Bank Analytic, where he has valued real estate, industrial, personal property, and financial assets. Some unique assets valued by Bharat include: the Golden Gate Bridge, NYC transportation system, Hartsfield Atlanta Airport, and various Las Vegas casinos. He has signed off on over 4000 valuation opinions with $900 billion in assets. Bharat holds an undergraduate degree in mechanical engineering from University of Wisconsin-Madison and a master of business administration from Marquette University.
ARM Director Wally Fry, ASA-ARM is currently the Deputy Director of Surplus Sales and Asset Valuation at GLOBALFOUNDRIES. He received his ARM designation April 2017, Accredited Senior Appraiser designation in 2011, MBA from Santa Clara University in 2010, and B.S. Chemical Engineering from UCSD in 1984. He’s received two patents, published 27 technical papers, held Chairman/Co-Chairman positions in the ECS, AVS, SEMI, and has been a member in IEEE since 1992. During his recent 5 years at GLOBALFOUNDRIES, Wally has performed due diligence equipment valuations for the acquisition of ProMOS Semiconductor, Taichung, Taiwan, and most recently, the acquisition of IBM  Microelectronics. Prior to joining GLOBALFOUNDRIES, he was an Analyst for 8 years at GE Capital managing a $350MM global portfolio of front-end equipment for a $1B Semiconductor Equipment Leasing group. Wally’s experience includes seven years Engineering/Management at Motorola and Hughes Aircraft, six years Marketing/Management at Watkins-Johnson and Novellus, and seven years Sales/Management at Schumacher, Novellus, GaSonics, Verteq, and TwinStar. He is a current member of IEEE and ASA. |
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Advancement News
Congratulations to chapter member Robert Lentz III, ASA Lentz & Company on earning his s enior appraiser designation in Appraisal Review & Management! This is Bob’s second ASA designation, he also holds an accreditation in Business Valuation. Bob recently shared some thoughts on the benefits of an ARM designation: “The time and expense to earn an ARM designation should help you write better appraisal reports of your own. The coursework and the interaction with your ARM colleagues can and will provide valuable insights into logical fallacies and common mistakes.”
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Volunteer Opportunities
Want to be more involved in the NorCal Chapter? We currently have an opening on the board for the Machinery & Technical Specialities Discipline Director. We are also looking for someone who is interested in coordinating the Chapter’s public relations and marketing efforts. Please contact DeborahAnn Marshall admin@asanorcal.org if you’d like to make a difference in the chapter!
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