"Our mission in life is to serve you and to serve you well, whenever you feel the need of such service"…This was American Appraisal’s original mission statement when we began providing valuation services on February 1, 1896.
1896
William. 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.
1906
By the early 1900s, American Appraisal 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 and 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.
1929
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 U.S. 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 U.S. Army and Navy retained the Company to inventory, appraise and provide disposal recommendations for surplus materiel 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 Consultants, Inc., a group formed by the U.S. Federal Government at the conclusion of World War II to aid in the disposition of worldwide war supplies. American Appraisal 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 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 a 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.
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