At A Glance...

Thursday May 15, 2014
6:30  PM, Davenport Press, Mineola

Board Meeting

Vote for 2014 – 2015 Officers
Watch for the ballot from ASA in your email.

For more info see our Calendar

2014-2015 USPAP Changes
Effective January 1, 2014
You must be compliant.
For more info see our News Page

ASA Education Class Schedule

Thursday, Sept 19, 6:30 PM
Annual Member Recognition Dinner
Cash bar. Dinner only $35 per person, except honorees and a companion, who will be guests of the Chapter.

Milleridge Inn, Jericho, NY
For Directions: www.milleridge.com
Call or email Pat Lanigan
516-972-2283, planigan@verizon.net

For more info see our Calendar

Members in the Press
March, 2013
Patricia Lanigan, AM  was asked to contribute appraisal information and tips for an article in the Poughkeepsie
Journal about recreational collecting.
For more info see our News Page

LI Chapter 2013-2014  Officers Slate
President – Patricia Lanigan, AM
Vice President – John Rosini
Treasurer – Kevin Boland, ASA
Secretary – John Rosini
** Watch for an email to vote online

USPAP Updates
2012 – 2013 Changes
New Definitions – Approach to Value
For more info see our News Page

IRS Updates
Fair Market Value Definitions
Links to Fine Arts Photographic Requirements and Appraisal Item Format
For more info see our News Page

 

Attention Members:
ASA Granted Expanded USPAP Options
For more info see our “News” Page

For more info see our Calendar


 

Long Island Chapter #72

President Patricia Lanigan, AM Vice President John J. Rosini Secretary John J. Rosini Treasurer Kevin Boland, ASA

Browse Members by Specialty

 

Click on one of the links above to see the
members under each specialty.

Business Valuation

Business appraisers value businesses and business interests of all sizes, from small proprietorships, such as medical practices, to large multinational corporations. They also value specific intangible business assets such as patents, trademarks, employment agreements, copyrights, securities and goodwill. These professional appraisers prepare merger and acquisition studies, employee stock ownership plan valuations and other similar financial studies. They may be involved in appraisals performed for estate and gift tax returns, buy-sell agreements, securities litigation, equitable distribution in matrimonial matters and many other purposes.

Gems and Jewelry

The accredited ASA gems and jewelry appraiser is uniquely qualified through training and experience to competently prepare appraisals of gemstones and jewelry. The insurance appraisals prepared by most retailers bear little resemblance to the documents prepared by ASA's accredited appraisers and Master Gemologist Appraisers®, who are professionally qualified to render appraisals for insurance, estate tax, equitable distribution, donation, dissolution of marriage, bankruptcy, sale and any other conceivable use. They are familiar with all levels of the jewelry marketplace and are trained in market research and analysis.

The ASA gems and jewelry appraiser may specialize in one or more of the following: diamonds and unmounted colored gemstones, contemporary jewelry, art and designer jewelry, Native American and/or other collectible ethnic jewelry, antique and period jewelry, gemstones rough, gemstone carvings or mineral specimens.

Machinery & Technical

The Machinery and Technical Specialties discipline includes ASA members who perform market or liquidation value appraisals for various purposes such as sales, acquisition, ad valorem taxes, eminent domain, collateralization, insurance or residual forecasting appraisals of general machinery and equipment or other specialties as described below.

Agricultural Chattels—Specializing in crops, livestock, agricultural vehicles, farm and ranch machinery and equipment, and other non-real estate assets, these professionals are concerned with both fair market value and various definitions of liquidation value for collateralization, estates, property sales and future markets. They must also be familiar with real property appraisal when dealing with crops which are real estate until harvested but then become personalty.

Aircraft—This appraiser specializes in developing current and projected market values for used reciprocating engine aircraft and turbine-powered aircraft, including corporate, commuter and private applications of airplanes and helicopters as well as all types of airline equipment encompassing the largest wide-bodied aircraft. They also value other aviation support equipment, such as spare parts, special tools and ground support equipment.

Arboriculture—The arboriculture appraiser is a specialist who appraises trees and other plantings. Some of the arboricultural appraiser's assignments involve condemnation cases, establishing loss for income tax purposes, settlement of insurance claims relating to loss or destruction of trees and other landscape plantings, and horticultural/forensic testimony in court cases.

Computers and High-Tech Personal Property—These specialists appraise all types of computers, from small personal computers to the largest mainframes, and all of the related components, including tape and disk drives and printers. They appraise complex electronic equipment including everything from large telephone switching systems to oscilloscopes, from medical and dental equipment to small hand-held instruments to X-ray machines and CAT scanners.

Cost Surveys—Appraisers in this specialty are involved mainly in allocating value among the various components of real property and personal property in commercial and/or industrial settings. They are experts in the cost method of valuation as required for insurance coverage, insured loss analysis, accounting and tax allocation in mergers, acquisitions and other forms of business sales.

Industrials—The industrials appraiser values the property, plant and equipment of heavy industry and the process industries, including, but not limited to, oil refineries, steel mills, smelters and mineral mills, extrusion, sheet and plate manufacturers. In such operations it is extremely difficult to separate the values of the real property, machinery and equipment, and intangibles in any meaningful way, yet the appraiser must consider both total and component values.

Machinery and Equipment (M&E)—Appraisers in this specialty are professionally qualified to evaluate all types of industrial properties; machine shops; refineries; hospitals; communications facilities; transportation equipment; process facilities; construction equipment; office machines, such as computers, copiers and word processors; as well as the entire contents of buildings. The M&E appraiser provides estimates of fair market value, fair market value in use and valuation for ad valorem tax purposes. Additionally, equipment analysis for future and residual values is fast becoming one of the more common assignments for today's M&E appraiser.

Marine Survey—Both commercial surveyors and yacht surveyors practice under this specialty. They perform damage surveys and appraisals, usually required by insurance companies, detailing descriptions of the nature and extent of damage to yachts, larger vessels or marine cargoes, recommending repairs to restore property to its prior condition and estimating costs involved. Similarly, surveys and/or appraisals are required to determine condition and value upon sale of yachts, small craft and ships.

Mines and Quarries—These specialists are concerned with the value of mineral reserves other than oil, gas and other fluids, whether available through surface or underground mining or quarrying operations. Coal; industrial minerals, such as talc, bentonite, clay and limestone; and construction materials, such as sand, rock, gravel and marble, are valued by engineering/mathematical methodologies for purposes of taxation, property sale and litigation.

Oil and Gas—These valuation experts are concerned with the value of hydrocarbon reserves under the surface of the earth, whether proven, unproven, developed or undeveloped. They must also determine values of various types of interests in minerals, subsurface leases and unexplored properties. Often with backgrounds in engineering, geology and mathematics, they are concerned with future values as well as present values in an environment of economic and technological uncertainty.

Public Utilities—These appraisers estimate both tangible and intangible values for properties in connection with rate case studies, sale or acquisition, eminent domain (condemnation), property tax appeals and insurance placement. This specialty requires special knowledge in order to take into account the unique economic and value characteristics of public utility properties and to properly recognize regulatory factors that influence value conclusions.

Personal Property

The accredited personal property appraiser has the specialized knowledge achieved through academic study and practical experience to competently produce appraisals for specific purposes such as insurance, estate tax, damage claims, donation, sale, dissolution of marriage and equitable distribution.

Personal property is defined as tangible, movable property that is utilitarian, collectible, decorative or a combination of the three.

An appraiser of personal property must be prepared to recognize and identify objects, both antique and contemporary, utilitarian and non-utilitarian. Subject to the code of ethics of the society, the appraiser will identify and value all the objects for which the appraiser's training, experience and accreditation qualify him or her, and the appraiser will refer to or consult other specialists as required.

In recognition of the public's need for professionally qualified appraisers, ASA tests and accredits personal property appraisers in various specialties. The three primary specialties are:

Antiques and Decorative Arts-Antiques are properties with appreciating values for reasons of age, craftsmanship, artistic merit and/or historical significance. (An antique is at least 100 years old.) Decorative arts are crafted properties, appreciating in value, for reasons of design, function and aesthetic merit.

Fine Arts-Fine arts include artistic and aesthetic objects created normally without function and/or utility, such as wall art and statuary.

Contents-General-(See specialists under Residential Contents-General) Basic utilitarian personalty, normally but not necessarily depreciating with use, to include furnishings, decorative accessories, appliances and utilitarian properties found on residential property and/or in the workplace.

In addition, ASA tests and accredits in the following specialties: African sculpture; antique and collectible glass; antique firearms, armor and militaria; antique furniture; Asian art; audiovisual media recordings; automotive specialties; books; clocks; fine arts photography; firearms; Native American art; numismatics; Oriental rugs; pre-Columbian art; silver and metalware; sports collectibles and memorabilia; textiles-general; textiles-quilts and violins.

Real Property

Basically there are three types of property: tangible real property, tangible personal property, and intangible property.


Real property is defined as all the interests, benefits, rights and encumbrances inherent in the ownership of physical real estate.
There are several specialties in real property: urban, residential, rural, timber and ad valorem (property tax).


Appraisals (valuations) provided in real property include services for use in acquisition and disposition, lending, insurance, estate taxes, property taxes, and eminent domain (condemnation). Also specific real property interests, such as leaseholds, can be valued.