Association of Diminished Value Appraisers, LLC
Uniform Standards for Diminished Value Appraisals
Point # 1 ...
Diminished Value Appraisers shall engage in their vocation without consideration of opinions or desires expressed by any client retaining their service.
Point # 2 ...
Diminished Value Appraisers shall have NO vested interest in the values they express.
Point # 3 ...
No Unsupported Hypothetical formula (ie: Formula “17c” or any “Proprietary” version thereof) shall be utilized in defining the Post-Repair Residual Inherent Diminished Value of any vehicle. Such unsupported hypothetical formulas fail to reflect Real World Market Conditions.
Point # 4 ...
The process of defining a Post-Repair Residual Inherent Diminished Value shall involve …
- Defining the Pre-Loss Fair Market Values ( Liquid Actual Cash Value / Retail ) of a subject vehicle
- Defining the Amount a fully informed consumer buyer may be willing to pay for a Damage History vehicle
- Defining the Amount a fully informed dealer / reseller may be willing to pay for a Damage History Vehicle
Point # 5 ...
Auction Sales Results may be relied upon to the extent such data reflects the Net proceeds paid to the Consumer seller after all Fees, Expenses and Commissions are deducted.
Point # 6 ...
Assess a level of Damage Severity and identify residual evidence of a Damage History.
Point # 7 ...
Physical Inspection of a subject vehicle is essential if a Diminished Value assessment is going to address Repair and / or Repair Warranty related issues.
Point # 8 ...
All Post-Repair Diminished Value Appraisals, authored by an ADVA appraiser, shall include the Bio ● CV and Career Work History Experience of the author of the appraisal.
Point # 9 …
The Primary Focus of an ADVA Post-Repair Residual Inherent Diminished Value Appraisal shall be to Define the Financial Damage sustained by the contemporary owner of a subject vehicle as of the Date the Damage was inflicted (Date-of-Loss).
Point # 10 …
What a Future Dealer / Reseller may realize, in some future sale of an Appraised subject vehicle, is Not On Point to the Diminished Value Financial Damage sustained by the vehicle’s contemporary owner, and should Not be an element of consideration in an ADVA Appraisal.
NOTE . . . ADVA “CERTIFIED” DIMINISHED VALUE APPRAISERS HAVE EXTENSIVE EXPERIENCE DEFINING VEHICLE VALUES and HAVE BEEN ACCEPTED AS “EXPERT” or “FACT” WITNESSES IN MULTIPLE TRIAL COURT JURISDICTIONS.
