Place: L’Olivier Restaurant, 465 Davis Court, San Francisco in the Club Room. (415-981-7824) The restaurant is easily accessible via BART (Embarcadero Station) and $5 valet parking is available.

NOTE: The dinner is being partly subsidized by the chapter, so the cost is a low $37. RSVP NOW please to Secretary Gil Mitchell at gil.e.mitchell@gmail.com and let him know you are coming. Do not reply to the email address—Gil is the one who needs to know!

“The State of ASA . . . Where We Are,
Where We’re Going”

Governor Jim Brown, ASA, will report to the chapter on ASA issues important to every member. Come and learn more about our organization!

Topics Covered:

Size and demographics

Financial condition overall

Financial condition by discipline

Governance

Structure of the Board of Governors

How decisions are made

Notable decisions of last 5-years

Status of Chapters, two-year study

Recent changes in responsibility for advancement applications

Government and the appraisal profession

The debate over standards

Other appraisal organizations

Competition

Cooperation

Alliance

Merger

President’s Message

Robin J. Erdmann, ASA MRICS MAI

Because I was unable to chair the April meeting due to business commitments, I have asked Doug Baxter, your chapter Vice President, to write the “president’s’ message, since he chaired the meeting in my absence. Doug will be your chapter president next year, and he will be a fine leader for this chapter. One of my priorities in this chapter is to identify and groom future leaders in the organization. Doug certainly understands the issues and opportunities going forward.

If you haven’t yet voted for chapter, regional and national officers, I recommend you do so at your earliest convenience. Voting ceases on May 14.

. . . . .

Message from Doug Baxter, Vice President

This month is an opportunity to introduce myself to many of you who have not had a chance to make it to recent chapter meetings. Robin Erdmann, ASA, and the Northern California Board have put together a busy year with numerous educational and professional programs designed to move our profession forward in these challenging times. Robin will be a tough act to follow! Nancy Stacy’s tireless work on the newsletter provides outreach to the many members unable to attend our monthly meetings since we have grown to include regions a considerable distance from San Francisco.

As a personal property appraiser specializing in antiques, I have been working as a full-time associate appraiser for Hobart Associates, Inc. for over five years. A Bay Area native, I came to the profession after working for an antiques dealer and earning a Post Graduate Diploma at the Sotheby’s Institute of Art in London. As I complete my ASA requirements and prepare to sit for the antique furniture specialty exam this month, I am reminded of the importance of continuing education to stay ahead in the game. Professionalism, education and the multi-discipline approach to appraisal are the main reasons I joined the ASA and look forward to serving next year as president.

Markets and appraisal requirements are changing rapidly in every discipline, so it is as important as ever to stay in touch with fellow ASA members and chapter events. Just when you think you have a subject or appraisal issue down, a new challenge presents itself. To stay in touch with the market and changing valuation issues, we all know it is imperative to keep up with continuing education credits and attend as many professional educational programs as possible.

At April’s meeting, Capt. Joe Rogers of Rogers & Associates Marine Surveyors gave an in-depth presentation on his marine survey work highlighting the challenges and rewards of his profession. Besides sharing entertaining stories of his training in the Caribbean, Captain Rogers detailed the various types of appraisals needed in the industry and outlined professional appraisal methodology as applied to vessels. Captain Rogers also emphasized the importance of mentoring new appraisers for the continued success of the ASA organization.

Outgoing Regional Governor Jim Brown’s presentation at the May meeting is sure to have some timely and relevant information about the state of the ASA and the future direction of the organization. As Robin mentioned in the last newsletter, there will also be a Zoning & Site Analysis seminar with Dave Lewis on May 21^st.

June 4^th is the Filoli event featuring four speakers and a fascinating day at the historic Peninsula museum and gardens. Be sure to see the details outlined in this month’s newsletter. This month will also feature the Candidate’s Night so mark your calendars for June 12^th!

Finally, the International Plant and Machinery Conference will bring hundreds of participants from all over the world to San Francisco. A 15 hour USPAP Seminar and a one day Expert Witness Seminar (October 3^rd-4^th and 8^th) will be included in the week’s events. More details to follow.

I look forward to meeting more of you at next week’s Governor’s meeting and Candidate’s Night in June!

Regards,

Douglas Baxter

Upcoming Events

		THE PERSONAL PROPERTY COMMITTEE OF THE NORTHERN CALIFORNIA CHAPTER OF THE AMERICAN SOCIETY OF APPRAISERS PRESENTS *“California Collectors”* WHEN: Thursday, June 4, 2009, 10am-3:30pm WHERE: Filoli, 86 Canada Road, Woodside, CA
We have planned an exciting and enriching day at this country estate built in 1915 by William Bower Bourn II, one of the last of the California Gold Barons. Designed by Willis Polk, this modified Georgian manor is furnished with 17th-19th century antiques. In 1975 the estate then owned by Mrs. William P. Roth was donated to the National Trust for Historic Preservation and is now open to the public. During and after the presentations we will try to allow time to view the property.
*Speakers:*	*“The Importance of Donations”* Tom Rogers Tom Rogers, Curator of Collections at Filoli, is responsible for the preservation and placement of the furniture and decorative arts displayed in the home. He has been on staff since the home was open to the public in the late 1970's and will give us an overview of the importance of donations to the fulfillment of this estate as a living museum. Filoli is unique amongst the National Trust for Historic Preservation properties in that the goal is to present the interior of the home and the famous gardens as close as possible to the way it was when lived in by the Bourns and subsequently by the Roths. *“Melvin Martin: Collector and Friend”* Jim Evans Jim Evans of Evans and Gerst Antiques, West Hollywood, California will give us a personal portrait of a major donor to Filoli. A graduate of the California College of Arts and Crafts, Mr. Evans worked at Hearst Castle and on the Queen Mary Project before opening his antique store with his partner, Tom Gerst, in 1974. Melvin Martin gifted his entire collection of 17th-19th century furniture, paintings and decorative arts upon his death in 1998 to Filoli. *“Tricks of the Trade: Determining Authenticity”* Leila Lyons Leila Lyons of Lyons Ltd. Antique Prints, Palo Alto, California will give a "hands-on" presentation centering on forming a print collection- actual examples of real and reproduction prints will be circulated. Mrs. Lyons and her late husband, Dr. Charles R. Lyons shared a love and knowledge of original prints of all periods and built a substantial collection spanning over five hundred years of graphic art and founded Lyons Antique Prints in 1968. A frequent lecturer and gifted writer, Mrs. Lyons latest book is "Collecting Prints" commissioned by Random House in 2006. She is a member of the International Society of Appraisers, past president and board member of the California Antique Dealers Association, a member of the Art & Antique Dealers League of America, the Confederation Internationale de Negociants en Oeuvres d'Art and the Antiques Council. *“California Women Collectors”* Diane Macleod Diane Macleod was a professor in the Department of Art and Art History at the University of California Davis from 1981-2007. She served as Director of the Department from 1999-2002 and is currently Professor Emeritus. Amongst the books she has authored are Enchanted Lives, Enchanted Objects: American Women Collectors and the Making of Culture, 1800-1940 (University of California Press: 2008) and Art and the Victorian Middle Class: Money and the Making of Cultural Identity (Cambridge University Press: 1996). Dr. Macleod will give us insight into some of the influential California women collectors of the 19th and early 20th centuries.
The fee will include a delicious box lunch which will be served on the Filoli tennis courts, admission to the grounds and the complete speaker series with four hours of continuing education credit. Non-ASA members are welcome to attend at the appropriate fee level. For further information contact elnewellappraise@pacbell.net Registration Form for “California Collectors” Name: Member/ Desig . Address: City: Zip: . Phone: . Fee: $175. Early registration for ASA Appraisers & members of cooperating associations $195. Non-Members & registration after May 20 Mail to: Emily Newell, PO Box 1187, Daly City, California 94017-1187 Check: payable to ASA. NorCal Credit Card: Visa or MasterCard Credit Card # Security Code . Exp. Date . Email (needed for credit card & receipt) .

June 11 Meeting

2009 ASA Candidates Night

All candidates and members are invited to attend Candidates Night Dinner Meeting:

Date: Thursday June 11, 2009 Time: 6:30 pm

Place: L’Oliver Restaurant, 465 Davis Court, San Francisco in the Club Room.

(415-981-7824) The restaurant is easily accessible via BART and $5 valet parking is available.

NOTE: The dinner is being provided FREE OF CHARGE for all candidates and paid-up members, so please come and network with experienced, successful appraisers in your discipline. All others will dine at the reduced rate of $37 (including tax and tip) partly subsidized by the chapter.

The program will:

· offer tips to help you advance from Associate/Candidate to Accredited Senior Appraiser

· explain what is expected in the advancement reports for each discipline

· provide access to checklists that your discipline uses to evaluate reports

· provide a FREE COPY of the 2007-2008 Chapter Membership Directory

If you only come to one event a year, this is THE event! Meet and network with fellow appraisers in all disciplines. Renew friendships and share your experiences.

The Chapter Board Meeting will be held at 5:30 pm. You are welcome to attend and bring your ideas for future seminars and meetings. Becoming more involved with ASA at the Chapter and International level is a sound career-building strategy.

All attendees, candidates and members, should contact Carole Richbourg, ASA by phone:

408-219-1175 or email: carole@finejewelryappraiser.com. This was a sold out event last year, so

Please RSVP as soon as possible All dinner guests REQUIRE a reservation; attendees who show up without a reservation WILL be turned away as the room only holds 50 persons.

Robin J. Erdmann, ASA

President

ASA 2009 Conference

Hold the Date! 2009 International Appraisal Conference July 12-15, 2009; Renaissance Orlando Resort at SeaWorld, Orlando, Florida. Budget & Finance, Governors’ Meeting & Committee Meetings preceding, July 10-12

Check the ASA website at www.appraisers.org for conference details.

Wayne Kompare will conduct a Wine tasting and discussion Monday July 13 at 5:30 at the International Conference titled "Great Wines to Fit Your Wallet. Wayne will be offering 6 highly rated wines (reds and whites) from two of the hottest wine regions in the world: Argentina and Spain. Only 100 seats are open for this multidisciplinary presentation. Cost is $35.00.

If you haven’t attended an ASA International Conference you are missing out on much of what the organization has to offer you in the way of education and networking! And remember—it is a business expense.

Chapter 2009 Calendar

MAY 2009

14th (Thur) Chapter Meeting – Gov. Jim Brown, ASA “State of ASA”

21^st Dave Lewis’s, ASA, Zoning & Site Analysis seminar Cancelled

JUNE 2009

4^th ASA Filoli PP Seminar: “Tastes of the Barons”

11^th (Thur) Chapter Meeting – “Candidates’ Night”

JULY 2009

ASA Conference, Orlando FL

· July 10: Budget and Finance/Executive Committee Meeting

· July 11: Board of Governors Meeting

· July 11-12: Other Committee Meetings

· July 13-15th ASA Conference Ed Sessions

No Chapter Meeting – Join us at Conference!

AUG 2009

13^th (Thur) No Chapter Meeting?

TBA - Leadership Retreat

SEPT 2009

10^th (Thur) Chapter Meeting

OCTOBER 2009

3-4^th All-discipline 15-hr USPAP, SF

4-7 MTS International Conference at Fisherman's Wharf, SF

8^th Expert Witness Seminar, SF

8^th (Thur) Chapter Meeting

NOVEMBER 2009

12^th (Thur) Chapter Meeting

DECEMBER 2009

10^th (Thur) Chapter Meeting?

Museum Exhibits:

Palace of the Legion of Honor: located in Lincoln Park near 34th Avenue and Clement Street.

Artistic Luxury: Fabergé, Tiffany, Lalique - February 7, 2009 — May 31, 2009

Waking Dreams: Max Klinger and the Symbolist Print - February 28, 2009 — July 5, 2009

De Young Museum: 50 Hagiwara Tea Garden Drive, Golden Gate Park, San Francisco, CA 94118; 415.750.3600; www.deyoungmuseum.org

Tutankhamun and the Golden Age of the Pharaohs returns to San Francisco 30 years after the blockbuster 1979 exhibition—with four new objects! - June 26, 2009 — March 28, 2010 at Warhol Live - February 14, 2009 — May 17, 2009

Yves Saint Laurent - November 1, 2008 — April 5, 2009

In Memoriam

James Schilt Memorialized by Scholarship

On Wednesday, April 22, 2009, some three dozen of Jim Schilt’s closest friends met for dinner at his club, The Villa Taverna in San Francisco, and toasted this fine man. There was a table set up with pictures and documents from Jim’s eight decades of life, and forty years as a business valuation professional and Life Member of ASA. During the dinner, the guests related their favorite stories and fond memories of Jim and his late wife, Franca.

As many of our Chapter members know, Jim was a big proponent of continuing ASA education, and an especially strong mentor to young people and women who wanted to become ASA-BV professionals. In the past few years, the Northern California ASA Chapter has made available up to $1,500 annually in scholarships to deserving individuals in each of the six disciplines.

In mid-April, the ASA Northern California Chapter #41 Board of Directors passed a resolution that we name the Chapter's future annual scholarships in Business Valuation “The James H. Schilt Memorial Scholarship in Business Valuation.”

We are attaching Jim's name to that annual scholarship in order that he will not be forgotten by future Chapter scholars and leaders.

Rest in peace, Jim.

Legislative Corner

Bond recovery rates have something to do with an obscure concept known as "highest and best use". In a viable enterprise, arguably, assets are worth at least book value, maybe even more. If the secured bond is predicated on that value, there will be weeping and gnashing of teeth if

(when) the enterprise is no longer viable. In a bust company the "highest and best use" of, say, a factory, might be eventual redevelopment as almost anything else. The buildings, and/or equipment, encumbered by the bond might be effectively valueless. The underlying land, in turn, may be discounted by the market for the time and expense necessary to effect its re-use.

Heaven forefend there are any environmental liabilities. This is saying nothing of the probability that it is likely to be hard to achieve much of a price liquidating when everybody else is.

Makes you wonder why folks thought that "secured" meant much.

-Charles Warren, ASA

NorCal Officers

L to R: Bob Lentz, Treasurer, Gil Mitchell, Secretary; Robin Erdmann, Chapter President, Jim Brown, Region 5 Governor, Will Schnitzer, Immediate Past Chapter President, Doug Baxter, Chapter Vice-Chair

Chapter officers:

Chapter President Robin J. Erdmann, ASA (RP)

Chapter Vice President Douglas S. Baxter (PP)

Chapter Secretary Gil Mitchell, ASA (MTS)

Chapter Treasurer Robert P. Lentz III, ASA (BV)

Chapter Past Chair William C. Schnitzer, ASA (RP)

Discipline Directors and Associate Directors:

Business Valuation    Jim Schilt, ASA               /    Alan Karbousky, ASA
   Gems & Jewelry     Nancy Stacy, ASA          /              Maury Woulf
                             Master Gemologist Appraiser
                  MTS     Gil Mitchell, ASA             /                           tba
Personal Property     Roger Rapport, ASA         /                           tba
      Real Property     Will Schnitzer, ASA         /                           tba

Anyone interested in being an active participant in the chapter should contact Robin J. Erdmann, MAI ASA at robinerdmann@comcast.net

Images

Doug Baxter, ASA VP & Joe Rodgers, ASA