American Appraisal

American Appraisal Associates, Inc.

Company type	Private, employee-owned
Industry	Valuation and Related Services
Founded	1896
Founder	William M. Young and John L. Moon
Headquarters	Milwaukee, Wisconsin
Area served	Worldwide
Key people	Joseph P. Zvesper (Chairman) and (CEO) Lee P. Hackett (Executive Vice President) Kimberly L. Russo (Senior Vice President) and (CFO)
Products	Valuation, Transaction Consulting, Real Estate Advisory, Fixed Asset Management
Number of employees	300+ (2012)
Website	www.american-appraisal.com

This company employed roughly 300 people in 60 locations around the world. Publicly notable projects conducted by American Appraisal include, for example, a "fresh start" valuation of MCI's assets after its chapter 11 bankruptcy filing or the retrospective valuation of the World Trade Center for Larry Silverstein's court case.

American Appraisal is now Duff & Phelps

In February 2015, American Appraisal was acquired by Duff & Phelps. The transaction bolsters Duff & Phelps’ world-class valuation capabilities, adding professionals in more than 50 offices globally. As a result, Duff & Phelps significantly expand its geographic footprint in Europe and Asia.

About Duff & Phelps

Duff & Phelps is the premier global valuation and corporate finance advisor with expertise in complex valuation, dispute and legal management consulting, M&A, restructuring, and compliance and regulatory consulting. The firm’s more than 2,000 employees serve a diverse range of clients from offices around the world. For more information, visit www.duffandphelps.com. 

History:

1896

William M. Young and John Moon recognized the need for valuation services when they heard about the owner of a grain elevator who had encountered difficulty establishing the amount of his insurance claim following a fire loss.

Mr. Young’s business experience together with Mr. Moon’s enthusiasm and vision led to the establishment of our company as well as the valuation profession.

1900

By the early 1900s, American Appraisals was the largest firm of its kind, with more than 200 employees, undertaking valuation assignments throughout the United States and Canada.

As the Company grew, its research library expertise became valuable assets and its consultants recognized as respected authorities, estimating value for property as diverse as precious artwork to highly specialized manufacturing processes.

1910

By 1910, corporate tax laws began to focus on property values and depreciation.  The need for accurate records of facilities, equipment and land values became even more important in 1913 when the Federal Government enacted the United States’ first income tax law.

1920

The 1920s presented new valuation opportunities.  The industrial expansion that characterized the decade led to American Appraisal’s first opportunity to value intangible assets, such as company trademarks.  Our valuation expertise and commitment to client service were evolving as American Appraisal’s distinctive traits.

In 1928, with the opening of the German office in Berlin, American Appraisal expanded it business activities in Europe.

1930

The collapse of the US stock market in October 1929 precipitated a worldwide slump in output and prices and significantly increased levels of unemployment  between 1929 and 1934.

In 1934, the US government enacted Treasury Decision 4422, which required property owners to assume the burden of calculating and substantiating depreciation for tax purposes. This law triggered an increased demand for valuation services.

1940

The 1940s marked a period of strong economic growth for American Appraisal as we continued to serve businesses and Governments during the war-torn forties.  During this decade the Company acquired significant international experience.

At the conclusion of the Second World War, the US Army and Navy retained the Company to inventory, appraise and provide disposal recommendations for surplus material in Europe, Asia and the Pacific.  This project established American Appraisal’s international reputation as the world’s largest valuation firm.

1950

The 1950s represented an era of continued growth and expansion.  The Company continued to be active in the Overseas Constants, Inc., a group formed by the US Federal Government at the conclusion of World War II to aid in the disposition of worldwide war supplies.  American Appraisals was the only valuation firm among the 11 companies comprising the organization.

1960

The 1960s were a period of significant growth for American Appraisal.  During the decade, we acquired E.H. Boeckh Company and the Standard Research Consultants, a division of Standard & Poors, and established national companies in Brazil, Canada, France, Italy, the Philippines, Mexico, and Singapore.

1970

During most of the 1970s, American Appraisal operated as publicly traded company, which allowed the Company to pursue acquisitions, expanding its vast service capabilities. American Appraisal solidified its presence in Asia with the establishment of offices in Hong Kong, Malaysia and Thailand.

1980

In 1983, the Company sold non-valuation related assets and returned to its core business interest: valuation services.

By 1984, the valuation profession was beginning to witness major changes.  A growing number of mergers, acquisitions and divestitures significantly increased the demand for valuation services.  This, in turn, changed the composition of the valuation profession with the entrance of international accounting firms into the business.

1990

American Appraisal returned to employee ownership and began a period characterized by stability and growth. Offices were established in many European countries and the Company continued to take advantage of new opportunities.

In 1999, American Appraisal reestablished its business operations in Germany, which had been closed during World War II.  American Appraisal Germany comprised four business units and serves as American Appraisal’s head office for Central Europe.

2000

American Appraisal continues to lead the appraisal profession through our involvement in the Appraisal Issues Task Force (AITF), a group that interacts with the SEC on valuation-related matters, the Valuation Resource Group, formed by the FASB to better understand the implications of Fair Value measurements, and the Appraisal Standards Board (ASB), an entity that develops, interprets, and amends the Uniform Standards of Professional Appraisal Practice (USPAP).  We remain committed to leading the appraisal profession and providing our clients with exemplary service.

2015

In February 2015, American Appraisal was acquired by Duff & Phelps. The transaction bolsters Duff & Phelps’ world-class valuation capabilities, adding professionals in more than 50 offices globally. As a result, Duff & Phelps significantly expand its geographic footprint in Europe and Asia.