RESTON, Va. – The American Society of Appraisers will conduct a conference titled “How to be a Successful and Effective Expert Witness” on March 5-6 at the Sir Francis Drake Hotel in San Francisco.
Demand for the event stems from a growing need for valuation professionals to be able to effectively communicate and present conclusions in courts of law.
2013 was marked with high-profile tax court cases involving works of fine art. One current valuation dispute between the IRS and the estate of artist, Jean-Michel Basquiat, shows a difference of $66 million. Last year the Sonnabend case in which the estate’s appraisers valued a work by Robert Rauschenberg at zero was contested with an IRS valuation of $65 million.
Less well known is the case involving the valuation of 64 works of art in the estate of James Elkins. The works were valued at $35 million, and the dispute focused upon the discount applicable to a fractional interest in the works by the heirs. With discounts from 50 percent to 80 percent of the fair market value proposed by various appraisers, the court rejected all of the appraisers’ opinions and determined a discount of only 10 percent.
It’s not only in the world of art valuation that the role of the appraiser has become more and more complicated. According to Dennis A. Webb, ASA, who is both a business valuation and real property appraiser, “It only takes reading a small number of tax court cases to realize that valuation expert testimony often fails to persuade. Experts that find the facts, connect the dots and tell the story provide testimony that attorneys can relate to and that the court needs. Persuasive experts make a major contribution to the court and to the profession – we need a good deal more of them.”
The program will help attendees learn how to provide expert witness testimony successfully and effectively. Topics will include common cv and website mistakes, what goes into a defensible report, preparing for deposition, trial, and dealing with difficult cross-examinations. Illustrative videos and mock trial exercises will be included and much more. Fourteen hours of CE and CPE credits will be offered, which have also been approved by California’s Bureau of Real Estate Appraisers.
As a bonus, immediately following the expert witness event, ASA will also be hosting a special 1.5-day connoisseurship conference, “Personal Property Issues and Insights: SFO” (March 7-8), which will be devoted to the special collections and sites of San Francisco with lectures and tours. Ten hours of continuing professional education credits will be offered.
Each of the conferences are tailor-made for appraisers and allied professionals and will offer attendees the benefits of enhancing and growing their expertise and knowledge, expanding their business and valuation services through networking opportunities and earning continuing professional education credits.
A variety of registration and pricing discounts are available, including special savings for those who register early.
To register or for complete event details visit www.appraisers.org/Events/asa-mini-conferences or call 800-272-8258.