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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 ...

  1. Defining the Pre-Loss Fair Market Values (Resale / Trade-In) of a subject vehicle
  2. Defining the Amount a fully informed consumer buyer may be willing to pay for a Damage History vehicle
  3. 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 any 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.

Better Business Bureau ... Rated “A+”