THE MOTORCYCLE APPRAISERS
COMPREHENSIVE GUIDE
TO
MOTORCYCLE
EVALUATIONS AND APPRAISALS
REVIEW, EXAMPLES FOR CRITIQUE AND KNOWLEDGE TEST.
PLEASE COMPLETE THIS PORTION AND SUBMIT THE RESULTS TO:
THE I.M.B.B.A MOTORCYCLE APPRAISERS
CERTIFICATION AND ACCREDITATION BOARD
ATTN: MILES BROWN I.M.B.B.A DIRECTOR OF APPRAISERS PROGRAM
mbrown@masterbikebuilders.com
FOR REVIEW, GRADING, AND CERTIFICATION ASSIGNMENT.
MEMBERS WHO SUCCESSFULLY ACHIEVE A GRADE OF 85% OR
BETTER WILL BE CONTACTED WITH THEIR ASSIGNED CERTIFICATION
NUMBER AND YOUR CERTIFICATE AND APPRAISERS PATCH WILL BE
FORWARDED TO YOU VIA MAIL.
SECTION TEN. 10-0
REVIEW EXAMPLES FOR CRITIQUE AND KNOWLEDGE TEST.
APPRAISAL EXAMPLES FOR EXAMINATION AND CRITIQUE.
IN SECTION TEN, I.M.B.B.A appraisers will have an opportunity to inspect and comment on
THREE APPRAISAL EXAMPLES for motorcycles. The purpose of this exercise is to enable
members to utilize the knowledge they have obtained by reviewing and understanding the
contents of this training manual, and to identify some of the acceptable and unacceptable
practices that occur within the content of an appraisal report.
Being able to identify these practices, will enable I.M.B.B.A appraisers to design an appraisal
report that meets or exceeds the standards for content outlined by the I.M.B.B.A Certification
and Accreditation Board.
After each example, there is a summary conclusion and comment section where you can
explain your findings and state your opinion regarding the content and format of the appraisal
you have reviewed and inspected .
In the previous sections of this training manual, we have discussed and explained all of the
information regarding building and presenting an Acceptable, Approved I.M.B.B.A Appraisal
Report. This is your opportunity to apply this information and the knowledge you have gained.
PLEASE BE THOROUGH WHEN COMPLETEING THIS EXERCISE
THE RESULTS AND EXPLANATIONS YOU PROVIDE
WILL ACCOUNT FOR 15% OF YOUR FINAL GRADE!
FROM THIS POINT ON YOU WILL BE GRADED ON YOUR ANSWERS!
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 161
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EXAMPLE APPRAISAL # 1. 10-1
MOTORCYCLE APPRAISAL
For Mr. John Doe.
3122 w 54 st. Saskatoon Saskatchewan. S9v-1G7
PH: 306- XXX-XXXX
1972 HARLEY SHOVELHEAD.
COLOR: RED / WHITE
CONDITION: GOOD
ENGINE: 74 cu. in.
TRANSMISSION: STOCK
FRAME: STOCK SWINGARM
GAS TANK: STOCK
WHEELS: STOCK
SEAT: STOCK /RECOVERED
PIPES: PAUCHO
GUAGES: STOCK
CONTROLS: AFTERMARKET
TIRES: AVON
ELECTRICAL: REBUILT BY OWNER
LIGHTS AND REFLECTORS: ORIGINAL
ACCESSORIES: LEATHER BAGS / CUSTOM MADE
CHROME: GOOD / SOME WEAR AND SCUFFS
PAINT: REPAINTED. COST $ 2000.00
OVERALL CONDITION AND COMMENTS:
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 162
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CONFIRMATION
Signed:
Date:
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 163
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SUMMARY AND COMMENTS. 10-2
Please list all of the infractions you discovered for the appraisal you have just reviewed. Also
explain what changes are required to make the appraisal for the 72 Shovel head Acceptable
according to the Standards of the I.M.B.B.A .
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 164
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EXAMPLE # 2 10-3
A.B.C MOTORCYCLE APPRAISALS
P.O BOX 11
CALGARY ALBERTA CANADA T4M-0B0
PHONE : 403-224-5678
CERTIFIED MOTORCYCLE APPRAISAL
PREPARED FOR AND PRESENTED TO :
WYATT WINCHESTER
FOR HIS
2011 HOME BUILT CUSTOM CHOPPER
SERIAL # : WWW52114WSST29177
APPRAISAL PREPARED AND RESEARCHED BY :
BOB ZURUNKLE
INTERNATIONAL MASTER BIKE BUILDERS ASSOCIATION
CERTIFIED MASTER BIKE BUILDER, JUDGE AND ACCREDITEDAPPRAISER
MEMBERSHIP # 00001A
this report must be read in its entirety
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 165
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CONTENTS
INDEX : 2
SUBJECT AND PURPOSE OF REPORT :
GENERAL OVERVIEW:
INTRODUCTORY PHOTO:
APPRAISED VALUE:
GENERAL PURPOSE OF REPORT:
VALUE DEFINITIONS: 3 - 5
METHODS OF VALUATION :
DETERMINING VALUES :
COMPARITIVE EXAMPLES:
RESEARCH RESOURCES: 6 – 10
MOTORCYCLE CONDITION :
CONDITION RATING :
VISUAL ASSESSMENT:
OVERALL CLASSIFICATION:
SUMMARY CONCLUSION: 11 – 13
CERTIFICATION OF REPORT :
VALIDATION CLAUSE:
CONDITIONS AND LIMITATIONS:
APPRIASAL VERIFICATION: 14 – 16
DETAILEDDESRIPTION :
MOTORCYCLE DESCRIPTION:
OWNERS INFORMATION:
DETAILED PARTS DESRIPTIONS AND COMMENTS:
SPECIALTY PARTS AND FINISHES: 17 – 24
PHOTOGRAPHS : signed and dated photographs are included in the final pages of this
appraisal .
This report must be read in its entirety 2
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 166
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A.B.C. MOTORCYCLE APPRAISALS
P.O BOX 11
CALGARY ALBERTA CANADA T0M-0X0
PHONE 403 – 224 – 5678
THE INFORMATION AND PHOTOGRAPHS CONTAINED IN THIS REPORT HAS BEEN
RESEARCHED , COMPILED AND DOCUMENTED AT THE REQUEST OF :
WYATT WINCHESTER
7711 – 37 ST CALGARY ALBERTA CANADA T4P-3A3
FOR THE PURPOSE OF DETERMINING AN ACCURATE REPLACEMENT VALUE FOR
INSURANCE PURPOSES BASED ON THE CURRENT CONDITION OF THIS
MOTORCYCLE .
I , BOB ZURUNKLE , HAVE PERSONALLY RESEARCHED , INSPECTED AND
ASSESSED THE VALUE OF THIS MOTORCYCLE , AND IT IS MY UN-BIASED
PROFESSIONAL OPINION , BASED ON THE INFORMATION PROVIDED TO ME BY THE
OWNER OF THIS MOTORCYCLE , AND WITH THE SUPPORTING DOCUMENTS GIVEN
TO ME THAT PERTAIN TO THIS MOTORCYCLE , THAT THE CURRENT
REPLACEMENT VALUE OF THIS MOTORCYCLE IN THE CONDITION IT IS IN AT THE
TIME OF THIS APPRAISAL IS:
$31,800.00 CANADIAN DOLLARS
this report must be read in its entirety 3
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 167
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PURPOSE OF REPORT
THE PURPOSE OF THIS APPRAISAL IS TO ESTABLISH A REPLACEMENT VALUE
FOR THE CLIENT'S MOTORCYCLE BASED ON THE INFORMATION PROVIDED BY
THE CLIENT , AND THE COMPARITIVE RESEARCH OBTAINED BY THE APPRAISER.
WITH THE FACTS THAT HAVE BEEN PRESENTED TO ME IN THIS MATTER , IT IS MY
PROFESSIONAL OPINION THAT THE REPLACEMENT VALUE FOR THIS
MOTORCYCLE IN THE CONDITION IT IS PRESENTED TO ME AT THE TIME OF THIS
EVALUATION IS :
$ 31,800.00
CANADIAN DOLLARS ….PLUS APPLICABLE TAXES
GENERAL OVERVIEW
THIS IS A VERY FINE EXAMPLE OF A CUSTOM BUILT CHOPPER ! THE BIKE WAS
BUILT BY THE OWNER IN HIS HOME SHOP IN CALGARY ALBERTA AND HAS BEEN
WELL DESIGNED AND FABRICATED USING SOME OF THE BEST PARTS AVAILABLE
ON THE MARKET TODAY.
THE MOTORCYCLE HAS IMMEDIATE VISUAL APPEAL , AND THE PAINT SCHEME IS
BEAUTIFULLY EXECUTED. ALL OF THE SAFETY FEATURES AND REQUIREMENTS
HAVE BEEN ADRESSED .
THE MOTORCYCLE STARTS, RUNS AND RIDES WELL , WITH NO VISIBLE LEAKS
OR MECHANICAL CONCERNS PRESENT AT THE TIME OF THIS APPRAISAL.
THE ODOMETER READING REGISTERS 75 MILES ON THE AUTO METER PRO
CYCLE CUSTOM GUAGE , AND THE OWNER HAS INDICATED THAT THE
MOTORCYCLE HAS ONLY MINIMAL MILAGE AS A RESULT OF PRELIMINARY TEST
RIDES.
this report must be read in its entirety 4
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VALUE DEFINITIONS
REPLACEMENT VALUE:
REPLACEMENT VALUE IS THE COST OF REPLACING A PARTICULAR VEHICLE WITH
A “NEW” ONE WHEN THE ORIGINAL IS EITHER TOTALLY LOST OR DESTROYED.
FAIR MARKET VALUE:
IS THE PRICE AT WHICH THE VEHICLE WOULD CHANGE HANDS BETWEEN A
WILLING BUYER AND A WILLING SELLER, NEITHER BEING UNDER THE
COMPULSION TO BUY NOR TO SELL; AND BOTH HAVING REASONABLE
KNOWLEDGE OF RELEVANT FACTS. FAIR MARKET VALUE IS AN INDICATION OF
THE MOTORCYCLE'S WORTH IN THE MARKET PLACE.
PROVINANCE:
IS DETERMINED WHEN THE MOTORCYCLE HAS DOCUMENTED PROOF OF ORIGIN ,
SUCH AS CELEBRITY OWNERSHIP , MOVIE USE , RACING HISTORY ETC.
RAREITY:
A MOTORCYCLE WITH LOW PRODUCTION NUMBERS , NO LONGER IN EXISTANCE ,
ONE OF A KIND OR EXPERIMENTAL .
OPTIONS AND DESIREABILITY:
SOME OPTIONS ARE MUCH MORE VALUABLE AND DESIRABLE THAN OTHERS.
MOTORCYCLES WITH MANY OPTIONS INCREASE VALUE, LARGER ENGINES, ALSO
KNOWN AS, “BIG BORE,” OR “ STROKERS “ARE MORE DESIRABLE. HORSEPOWER
RATINGS ARE SOMETHING THAT SHOULD BE CONSIDERED.
this report must be read in its entirety 5
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 169
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DETERMINING VALUE
THIS APPRAISAL IS COMPILED USING CURRENT INDUSTRY COMPARISONS AND
RETAIL PRICES FOR PRODUCTS AND SERVICES . ECONOMIC FLUCTUATIONS IN
THE VALUE OF CANADIAN AND FOREIGN CURRENCY, SALE ITEMS , DEALER OR
WHOLESALE PRICES FOR COMPONENTS ARE NOT ACCOUNTED FOR IN THIS
APPRAISAL. EVERY EFFORT HAS BEEN MADE TO COMPARE PRICES OF
COMPONENTS AND SPECIALTY SERVICES FROM NUMEROUS EXISTING
RETAILERS, COLLECTORS , FACTORY DEALERSHIPS , MANUFACTURERS AND
AUCTION SALE SOURCES. THE AUTHOR HAS NO PRESENT OR PROSPECTIVE
INTEREST IN THE MOTORCYCLE THAT IS THE SUBJECT OF THIS REPORT AND THE
AUTHOR HAS NO PERSONAL INTEREST OR BIAS WITH RESPECT TO EITHER THE
MOTORCYCLE OR THE PARTIES INVOLVED.
THE POPULARITY OF PERSONALIZED AND CUSTOMIZED MOTORCYCLES HAS
BEEN STEADILY INCREASEING .
TELEVISION SHOWS SUCH AS THE DISCOVERY CHANNEL , T.L.C , BIKER T.V ,
BUILD OR BUST AND AMERICAN CHOPPER , HAVE PUT THE CUSTOM
MOTORCYCLE INDUSTRY FRONT AND CENTER IN THE HOMES OF ENTHUSIASTS
AND HOBBIESTS WORLD WIDE .
THE UNLIMITED AVAILABILITY AND SELECTION OF CUSTOM PARTS AND
SKILLED CRAFTSMEN , AND THE INTERNET ACCESSABILITY TO SPECIALTY
RESOURCES HAS MADE OWNING A PERSONALIZED CUSTOM MOTORCYCLE A
VIABLE AND AFFORDABLE OPTION TO INDIVIDUALS THAT WANT TO RIDE A
MOTORCYCLE THAT REFLECTS THEIR INDIVIDUAL TASTES AND PERSONALITY.
VINTAGE MOTORCYCLES HAVE BECOME VERY COLLECTABLE AND THEIR VALUE
CONTINUES TO INCREASE.
EVERY EFFORT HAS BEEN MADE TO COMPARE NO FEWER THAN SIX SIMILAR
MOTORCYCLES TO THE SPECIFIC MOTORCYCLE EVALUATED IN THIS APPRAISAL .
COPIES OF THE MOTORCYCLES RESEARCHED FOR COMPARISON HAVE BEEN
INCLUDED IN THIS PRESENTATION FOR FUTURE REFERENCE PURPOSES.
this report must be read in its entirety 6
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 170
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RESOURCES
• EASYRIDER MAGAZINE
• THE HORSE MAGAZINE
• REVOLUTION CYCLE MAGAZINE
• CYCLE SOURCE MAGAZINE
• HARLEY DAVIDSON MOTORCYCLES
• MOTORCYCLE DEALERS AND
DISTRIBUTORS
• BONHAMS & BUTTERFIELDS AUCTIONS
• MIDAMERICA AUCTIONS
• WALNECKS CLASSIC CYCLE TRADER
• TRADER PUBLICATIONS BIKE TRADER
• INTERNET MOTORCYCLE DEALERS AND
SUPPLIERS
• CUSTOM MOTORCYCLE BUILDERS AND
MANUFACTURERS
• INTERNET BLOGS AND RESOURCE SITES
• THE COMPREHENSIVE VINTAGE
MOTORCYCLE GUIDE
• KELLEY BLUE BOOK
this report must be read in its entirety 7
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 171
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COMPARATIVE EXAMPLES
EXAMPLE # 1:
2011 INSANE CYCLE CUSTOM CHOPPER
$ 29,900.00 U.S.D.
EXAMPLE # 2:
2011 A.M.G. CHOPPER
$ 29,999.00 U.S.D
EXAMPLE # 3:
2009 121 CU.IN MERCH CHOPPER
$ 35,000.00 C.A.D
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I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 172
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COMPARITIVE EXAMPLES
EXAMPLE # 4:
2006 CUSTOM BUILT CHOPPER
$29,999.00 U.S.D
EXAMPLE # 5:
2005 CUSTOM BUILT CHOPPER
$ 33,800.00 U.S.D
EXAMPLE # 6:
2011 AMERICAN IRONHORSE
CHOPPER $ 32,000.00 U.S.D
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I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 173
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COMPARABLE FINDINGS
BASED ON THE SIX INDIVIDUAL COMPARISONS PRESENTED IN THIS
EVALUATION IT IS DISCOVERED THAT THE VALUES REFLECTED
ACCORDING TO THE CURRENT INDUSTRY DEMAND , OVERALL
ECONOMIC CONDITIONS , VALUE OF THE CANADIAN CURRENCY AND
OVERALL RESALE PRICES ARE AS FOLLOWS :
HIGH END PRICE: $ 35,000.00 C.A.D
LOW END PRICE: $ 29,000.00 U.S.D.
AVERAGE PRICE: $ 31,783.00 C.A.D
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CONDITION
CONDITION RATING # : 2
CONDITION RATEING SCALE
1 = EXCELLENT, 2 = VERY GOOD, 3 = GOOD, 4 = FAIR, 5 = RESTORABLE
1)
EXCELLENT: A PERFECT OR CLOSE TO PERFECT MOTORCYCLE IN ORIGINAL
CONDITION OR EXTREMELY WELL RESTORED CONDITION. ABSOLUTELY
FLAWLESS AND STUNNING TO LOOK AT. ALL COMPONENTS APPEAR AND WORK AS
NEW . ALL ORIGINAL EQUIPMENT , NEW OLD STOCK FACTORY REPLACEMENT
PARTS OR MINIMAL USE OF REPRODUCTION PARTS. RUNS AND RIDES AS ORIGINAL
2)
VERY GOOD: WELL RESTORED; AND VERY PRESENTABLE ORIGINAL MOTORCYCLE
THAT HAS MINIMUM WEAR. STARTS , RUNS AND RIDES WELL . NEEDS VERY LITTLE
MECHANICAL WORK IF ANY . SHOWS WELL WITH LITTLE COSMETIC WEAR. ALSO
CALLED ABOVE AVERAGE CONDITION.
3)
GOOD: COMPLETELY OPERABLE ORIGINAL OR OLDER RESTORATION SHOWING
SOME WEAR OR AMATEUR WORKMANSHIP. ALSO A COMBINATION OF WELL DONE
RESTORATION AND GOOD OPERABLE COMPONENTS; OR PARTLY RESTORED
MOTORCYCLE WITH VALUABLE NOS PARTS. MOTORCYCLE WOULD LIKELY BE
RIDDEN FREQUENTLY FOR ENJOYMENT. ALSO CALLED AVERAGE CONDITION.
4)
FAIR: ADDRESSABLE MOTORCYCLE NEEDING NO OR ONLY MINOR WORK TO BE
FUNCTIONAL; OR A DETERIORATED RESTORATION; OR A VERY POOR AMATEUR
RESTORATION. ALL COMPONENTS MAY NEED RESTORATION TO BE EXCELLENT
OR ABOVE AVERAGE, BUT MOSTLY USABLE IN “AS IS” CONDITION.
5)
RESTORABLE: NEEDS COMPLETE RESTORATION OF BODY CHASSIS AND
COMPONENTS. NOT DRIVABLE, BUT IS NOT WEATHERED, WRECKED OR
STRIPPED TO THE POINT OF BEING USEFUL ONLY FOR PARTS SALVAGE.
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I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 175
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VISUAL ASSESSMENT
VISUAL ASSESSMENT IS BASED ON THE GUIDELINES FOR FIT , FORM ,
FUNCTION AND SAFETY STANDARDS ESTABLISHED BY THE
INTERNATIONAL MASTER BIKE BUILDERS ASSOCIATION.
RATING : VERY GOOD
EXCELLENT : 100 % - 90 %.
VERY GOOD : 89 % - 70 %
GOOD : 69 % - 50 %
FAIR : 49 % - 30 %
POOR : 29 % - 10 %
ENGINE : EXCELLENT
TRANSMISSION AND DRIVE LINE : EXCELLENT
MECHANICAL : VERY GOOD
FABRICATION AND ASSEMBLY : VERY GOOD
FRAME : VERY GOOD
SEAT : VERY GOOD
EXHAUST : VERY GOOD
ELECTRICAL : VERY GOOD
PAINT AND FINISH : VERY GOOD
CHROME AND POLISHING : VERY GOOD
WHEELS / TIRES : VERY GOOD
GLASS / LIGHTS : VERY GOOD
OVERALL CLEANLINESS / LEAKS :
MOTORCYCLE LOOKS TO BE IN VERY GOOD CONDITION WITH NO
VISIBLE LEAKS . ALL CONTROL CABLES AND HOSES ARE IN GOOD
CONDITION WITH NO CHAFEING OR ABRAISIONS.
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CLASSIFICATION
1: EXCEPTIONAL: SUPERIOR BUILD OR RESTORATION.
UNFLAWED ORIGINAL.
2: VERY GOOD: PROFESSIONAL BUILD OR RESTORATION,
SLIGHT FLAWS.
3: CLEAN: VERY PRESENTABLE , WELL MAINTAINED,
NOT PERFECT.
4: AVERAGE: FULLY FUNCTIONAL , SOME WEAR,
AVERAGE MAINTAINED.
5: POOR: NEEDS COMPLETE RESTORATION.
PARTIALLY RESTORED.
REQUIRES MAJOR WORK .
THIS MOTORCYCLE RATES # 2
CONCLUSION / SUMMARY
THIS MOTORCYCLE APPEARS TO BE IN VERY GOOD OVERALL CONDITION WITH
THE EXCEPTION OF SOME MINOR COSMETIC FLAWS IN THE PAINT WORK .
INITIAL INSPECTION OF THE MOTORCYCLE INDICATES THAT THE MOTORCYCLE
HAS BEEN RIDDEN , AND THE OWNER CLAIMS THAT THE MILEAGE IS MINIMAL
AND IS THE RESULT OF PRELIMINARY TESTING TO ENSURE PROPER FUNCTION OF
COMPONENTS.
THE OWNER OF THIS CUSTOM MOTORCYCLE DID A FANTASTIC JOB EXECUTEING
THE CONSTRUCTION RIGHT FROM THE CONCEPTION AND DESIGN PHASE
THROUGH TO THE FINISHED MOTORCYCLE AS IT IS PRESENTED FOR THIS
APPRAISAL .
THIS CUSTOM CHOPPER HAS INSTANT VISUAL APPEAL AND DEMANDS VIEWERS
TO TAKE A CLOSER LOOK AT THE DETAILS OF IT'S OVERALL DESIGN .
THE OWNER HAS STATED THAT THIS WAS HIS FIRST COMPLETE CUSTOM BUILD .
HIS CAREFULL CHOICE OF COMPONENTS HAS RESULTED IN A FINE EXAMPLE OF
WHAT CAN BE ACCOMPLISHED USING BASIC TOOLS AND EQUIPMENT TO DEVELOP
A DREAM INTO A RUNNING AND RIDEABLE REALITY THAT ANYONE WOULD BE
PROUD TO OWN AND ENJOY.
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I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 177
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VALIDATION
THIS APPRAISAL IS ACCURATE AS OF THE DATE ISSUED. ANY
ALTERATIONS OR SPECIFIC CHANGES TO THE VEHICLE DESCRIBED IN
THIS APPRAISAL THAT COMMENCE AFTER THE DATE THIS APPRAISAL
IS ISSUED ARE NOT INCLUDED. SHOULD ALTERATIONS OCCUR , THIS
APPRAISAL WILL BE SUBJECT TO RE-EVALUATION , INSPECTION AND
UP-DATING, AND SHALL BE DEEMED VOID.
A.B.C MOTORCYCLE APPRAISALS , OR ANY AGENT ACTING ON
BEHALF OF A.B.C MOTORCYCLE APPRAISALS IS NOT LIABLE FOR THE
FUNCTION OR SAFETY OF ANY PARTS OR COMPONENTS ATTACHED TO
THE MOTORCYCLE DESCRIBED IN THIS APPRAISAL.
IN THE EVENT THE MOTORCYCLE DESCRIBED IN THIS APPRAISAL
IS SOLD , THIS APPRAISAL WILL BE SUBJECT TO RE-EVALUATION AND
INSPECTION AND DEEMED EXPIRED.
I HAVE READ AND UNDERSTAND THIS VALIDATION CLAUSE:
SIGNED BY THE OWNER AND RECIPIENT OF THIS APPRAISAL:
NAME :
DATE : DAY : 20 MONTH : 6 YEAR : 2011
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CONDITIONS AND LIMITATIONS
THE PURPOSE OF THIS REPORT IS TO ESTABLISH A REPLACEMENT VALUE FOR
THE MOTORCYCLE DESCRIBED IN THIS APPRAISAL . THIS APPRAISAL IS TO BE
READ IN ITS ENTIRETY ONLY AND IS NOT INTENDED FOR ANY OTHER USE OR
DISTRIBUTION BY ANY OTHER PARTIES !
A.B.C APPRAISALS OR ANY AGENTS OF A.B.C APPRAISALS DOES NOT ASSUME ANY
RESPONSIBILITY FOR LIABILITY OR LOSSES OCCASSIONED BY THE OWNER AND
OR ANY OTHER PARTIES AS A RESULT OF CIRCULATION , PUBLICATION ,
REPRODUCTION OR USE OF THIS OPINION CONTRARY TO THE PROVISIONS IN THIS
PARAGRAPH. WE RESERVE THE RIGHT ( AND WILL BE UNDER NO OBLIGATION ) TO
REVIEW ALL CALCULATIONS INCLUDED OR REFERED TO IN THIS OPINION , AND IF
WE CONSIDER IT NESSESSARY , TO REVISE OUR OPINION IN LIGHT OF ANY
INFORMATION EXISTING AT THE VALUATION DATE WHICH BECOMES KNOWN TO
US AFTER THE DATE OF THIS REPORT. THE CONCLUSIONS SET FOURTH HERIN ARE
BASE ON MANY FACTORS , SOME OF WHICH HAVE BEEN EXPAINED AND OTHERS
THAT HAVE NOT. IF ANY ONE IMPORTANT FACTOR OR ASSUMPTION IS CHANGED
THE CONCLUSIONS PROVIDED MAY BE SUBJECT TO REVISION.
THE APPRAISER NAMED IN THIS REPORT IS NOT REQUIRED TO PROVIDE
TESTIMONY IN A COURT OF LAW WITH REFERENCE TO THE MOTORCYCLE
APPRAISED IN THIS REPORT UNLESS OTHERWISE ARRANGED . ALL NOTES AND
RESEARCH DONE WILL BE KEPT ON FILE FOR A PERIOD OF FIVE YEARS. IF
ADDITIONAL RESEARCH OR TESTIMONY IS REQUIRED BY THE CLIENT OR THE
COURT , A TRIAL FEE OR HOURLY RATE WILL BE CHARGED .
POSSESSION OF THIS REPORT OR A COPY OF THIS REPORT DOES NOT
CONSTITUTE THE RIGHT TO PUBLICATION , NOR IS IT TO BE USED FOR ANY
OTHER REASON OR PURPOSE BY ANYONE OTHER THAN THE OWNER OR HIS/HER
ATTORNEY WITHOUT WRITTEN CONSENT .
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CERTIFICATION OF REPORT
THE VALUE ASSESSED IN THIS APPRAISAL IS BASED ON THE OPINION OF THE
APPRAISER , GIVEN THE SUPPORTING DOCUMENTS BY THE OWNER AND THE
JUDGEMENT AND PROFESSIONAL OPINION OF THE APPRAISER . THE APPRAISER IS
NOT A LICENCED MOTORCYCLE MECHANIC , AND IS THEREFORE NOT ENTITLED
TO JUDGE THE MECHANICAL CONDITION OF THE MOTORCYCLE IN THIS
APPRAISAL BEYOND THAT WHICH IS EVIDENT AT THE TIME THIS APPRAISAL IS
DRAFTED .
NEITHER I ( BOB ZURUNKLE ) NOR ANY EMPLOYEES OF A.B.C APPRAISALS
HAVE ANY PRESENT OR FUTURE INTEREST IN THE MOTORCYCLE DESCRIBED IN
THIS APPRAISAL.
I BOB ZURUNKLE , HAVE INSPECTED AND EVALUATED THIS MOTORCYCLE TO
THE BEST OF MY ABILITY , KNOWLEDGE AND EXPERTISE, AND I HAVE UTILIZED
ALL OF THE RESOURSES CURRENTLY AVAILABLE TO ME IN ORDER TO PROVIDE
THE MOST ACCURATE AND CONCISE APPRAISAL POSSIBLE .I VERIFY THAT THE
DIGITAL PHOTOGRAPHS I HAVE TAKEN OF THIS MOTORCYCLE ACCURATELY
REFLECT AND ACKNOWLEDGE THE CONDITION OF THE MOTORCYCLE AT THE
TIME OF THE APPRAISAL . MY PAYMENT FOR THIS APPRAISAL IS NOT CONTINGENT
ON THE REPORTING OF ANY PREDETERMINED VALUE , OR DIRECTION OF VALUE ,
OR ANY PORTION OF ESTIMATED VALUE.
IT IS MY OPINION , BASED ON THE COMPARISONS I HAVE RESEARCHED AND
THE VISUAL INSPECTION OF THE MOTORCYCLE DESCRIBED IN THIS APPRAISAL ,
AND WITH THE INVOICES , RECIEPTS AND INFORMATION I HAVE BEEN PROVIDED
BY THE OWNER OF THIS MOTORCYCLE , THAT THE …..
CURRENT REPLACEMENT VALUE IS:
$ 31,800.00 CANADIAN DOLLARS.
THE APPRAISED VALUE DOES NOT INCLUDE
APPLICABLE TAXES OR DUTIES.
APPRAISED BY : BOB ZURUNKLE SIGNED:
DATE : MONTH : JULY DAY 20 YEAR 2011
PHOTO COPYS OF AVAILABLE RECIEPTS
AND INVOICES ARE INCLUDED
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MOTORCYCLE DESCRIPTION
MAKE: HOME BUILT CUSTOM CHOPPER
MODEL: SOFTAIL CHOPPER
YEAR : 2011
COLOR : BLACK METALIC / FLAT BLACK
SERIAL # : WWW52114WSST29177
V.I.N # : 7ATB032001V101634
LICENCE # : N/A
FRAME MANUFACTURER : MAXIMUM METAL WORKS
ODOMETER READING : 75 MILES
PRODUCTION: ONE OF A KIND
INVESTED COST : $30,000.00
SUPPORTING RECIEPTS / INVIOCES ? YES : X NO :
ORIGINAL : X RESTORED : MODIFIED : CUSTOM : X OTHER :
OWNERS INFORMATION
OWNER : WYATT WINCHESTER
ADDRESS : 7711-37 STREET CALGARY ALBERTA CANADA
POSTAL CODE : T4P-3A3
PHONE # : HOME : 403 – 371 - XXXX CELL : 403 – 304 - XXXX
INSURANCE CO. NORDIC
POLICY # : N/A
MOTORCYCLE USE : SHOW : X RECREATION : X DAILY USE : X
HISTORY / PROVINANCE : NONE . MOTORCYCLE IS FRESH BUILT AND NEW.
MOTORCYCLE WAS PHYSICALLY INSPECTED ? YES: X NO:
LOCATION OF INSPECTION : 7711 – 37 STREET CALGARY ALBERTA CANADA.
SERVICE RECORDS PROVIDED ? YES: NO : X
ORIGINAL BROCHURES / MANUALS ? YES : NO : X
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ENGINE
MAKE : ULTIMA PRODUCTS 120 CU.IN
YEAR : 2009
MODEL : EL BRUTO
SERIAL # : EP07V4905
DISPLACEMENT : 120 CUBIC INCHES
HORSEPOWER STATED BY MANUFACTURER: 135 HP
DYNO TUNED AND RATED : YES : NO : X
INTERNAL ENGINE MODIFIFCATIONS ( NOT VISIBLE BUT STATED BY OWNER )
NONE ….STOCK FROM MANUFACTURER.
SUPERCHARGER /TURBO CHARGER / NOS ? NONE
EXTERIOR FINISH : WRINKLE BLACK POWDER COATING
SPECIAL FEATURES : POLISHED COOLING FINS , YANKEE ENGINUETY CUSTOM
TOP MOTOR MOUNT.
CARBERATOR / E.F.I.
MAKE : MIKUNI HSR
MODEL : 45 MM
FINISH : CHROME
AIR CLEANER STYLE : FORCEWINDER XR2 TURN OUT
CABLE STYLE : MIKUNI
INTAKE MANIFOLD TYPE : STOCK / O.E.M
MANIFOLD CLAMP STYLE : STOCK / O.E.M
SPECIAL FEATURES : NONE.
IGNITION
IGNITION TYPE : ULTIMA PRODUCTS THUNDER FORCE
MANUFACTURER : ULTIMA PRODUCTS
SPARK PLUG TYPE : CHAMPION
SPARK PLUG WIRE STYLE : GRAPHITE CORE PERFORMANCE
COIL / MAGNETO : ULTIMA PRODUCTS
IGNITION SWITCH: COLE HERSEE 2 POSITION MARINE SWITCH
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TRANSMISSION
MAKE : 2009 ULTIMA PRODUCTS
MODEL : 6 SPEED LSD
SERIAL # : UD222228
FINISH : WRINKLE BLACK / CHROME COVERS
TRANSMISSION PLATE AND ADJUSTER : OFF SET
CLUTCH : ULTIMA PRODUCTS
PRIMARY DRIVE : 83 MM ULTIMA OPEN BELT DRIVE
PRIMARY COVERS : ULTIMA PRODUCTS
SHIFT STYLE : CHROME HORSE FOOT SHIFT
KICK STARTER AND PEDDLE : N/A
SPECIAL FEATURES :
CUSTOM TRUCKER GIRL SHIFT ROD LINKAGE .
FRAME
MANUFACTURER : 2004 MAXIMUM METAL WORKS
SERIAL # : WWW52114WSST29177
STYLE : SOFTAIL 200MM WIDE TIRE STRYKER SERIES / HIDDEN
AXLE.
SPECIAL FEATURES :
38 DEGREE RAKE, 4 INCH DOWNTUBE STRETCH . 2 INCH STRETCH .
FRONT STEERING FORKS
MAKE : ULTIMA PRODUCTS
STYLE : WIDE - GLIDE
FINISH : CHROME
GATORS / SEALS : CHROME
TRIPLE TREES / CLAMPS : ULTIMA PRODUCTS CHROME BILLET
LOWER LEGS : ULTIMA PRODUCTS CHROME BILLET
SPECIAL FEATURES :
CHROME TRIPLE TREES. HIDDEN STEM NUT . 5 DEGREE BUILT IN RAKE ,
INTERNAL FORK STOPS.
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WHEELS AND TIRES
RIM STYLE : 100 SPOKE
MANUFACTURER : AFTERMARKET / CUSTOM
FINISH : CHROME
SIZE : FRONT : 21 INCH REAR : 18 INCH 100 SPOKE
TIRES : FRONT : 80/90 21 VENOM REAR : 55 / 200 -18 VENOM
TIRE MANUFACTURER : AVON
SPECIAL FEATURES :
100 SPOKE CHROME RIMS .
BRAKES
BRAKE TYPE : JAY – BRAKE CONTROLS / DNA 4 PISTON CALIPERS
MANUFACTURER : JAY - BRAKE / DNA
BRAKE HOSE / CABLE STYLE : BRAIDED STAINLESS STEEL / PROTECIVE
COATING
LINKAGE : N/A HYDRAULIC
BRAKE LIGHT SWITCH STYLE : HYDRAULIC / ELECTRIC
MASTER CYLINDER : CHROME HORSE REAR/ JAY – BRAKE FRONT
SPECIAL FEATURES :
REV – TECH ELIMINATOR 7 ROTORS.
GAS TANK / TANKS
MANUFACTURER : JESSE JAMES WCC VILLAN
STYLE : FRISCO STRETCHED
GAS CAP : POP UP WCC 6 SHOOTER
FUEL SHUT OFF VALVE : PINGLE
FUEL FILTER : PINGLE
FUEL LINE : FUEL RATED RUBBER
DASH : MILLED ALUMINIUM CUSTOM / ENGINE MOUNTED
DECALS / TANK BADGES : N.A
SPECIAL FEATURES :
DASH BEZELS ARE ENGINE MOUNTED .
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OIL TANK
MANUFACTURER : ULTIMA OWNER CUSTOMIZED ROUND
STYLE : ROUND WITH BUILT IN BATTERY BOX
OIL TANK LINES AND FITTINGS : RUBBER / OIL RATED
OIL TANK CAP : CUSTOM WITH TEMPERATURE GUAGE
OIL FILTER / COOLER : STOCK STYLE ENGINE MOUNTED FILTER
SPECIAL FEATURES :
CUSTOMER MODIFIED OIL TANK FOR STARTER CLEARANCE.
SEAT
MANUFACTURER : KUHL'S CUSTOMS / ARLO'S UPHOLSTERY CUSTOM MADE
STYLE : SOLO
MATERIAL : BLACK LEATHER
SPECIAL FEATURES :
HAND FABRICATED SEAT PAN BY KUHL'S CUSTOMS.
FENDERS
MANUFACTURER : HARLEY – DAVIDSON STYLE FRONT / WILD CARD 9 INCH REAR
STYLE : STOCK / O.E.M MODIFIED FRONT WITH SELF SUPPORTING REAR.
TRIM : N/A
FENDER BRACES AND BRACKETS : MODIFIED FRONT / CUSTOM REAR INTERNAL.
SPECIAL FEATURES :
WILD CARD 9 INCH ROUND TOP REAR FENDER BY KUHL'S CUSTOMS
HANDLE BARS
MANUFACTURER : AFTERMARKET CUSTOM
STYLE : DRAG BARS
FINISH : CHROME
GRIPS : BDL KNURLED CHROME / RUBBER ISO BANDS
LEVERS : JAY - BRAKE
SWITCHES : JAY - BRAKE
CABLES : MIKUNI / CUSTOM CLUTCH ALL STAINLESS STEEL BRAIDED / COATED
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LIGHTING
HEADLIGHT : ULTIMA PRODUCTS 5 ¾ X 6 ¾ SEALED BEAM WITH VISOR
TAILIGHT : CUSTOM L.E.D
SIGNAL LIGHTS : BULLET STYLE CUSTOM L.E.D
RUNNING LIGHTS : N/A
REFLECTORS : N/A
FINAL DRIVE
TYPE : 132 TOOTH BELT
SPROCKET / PULLY SIZE : FRONT: UNKNOWN REAR : 70 T
CHAIN / BELT TYPE : KEVLAR
CHAIN GUARD / BELT GUARD: N/A
TENSIONERS AND ADJUSTERS : ULTIMA ELIPTICAL
SPECIAL FEATURES : NONE.
ELECTRICAL WIREING AND COMPONENTS
HARNESS STYLE : CUSTOM BY BUILDER
WIREING TYPE : COLOR CODED 12 VOLT AUTOMOTIVE
BREAKERS AND FUSES : CUSTOM 15 / 30 AMP SEALED
BATTERY : BIG BOAR 12 VOLT 350 CCA
BATTERY CABLES : ALL BALLS FLEX TYPE
IGNITION MODULE STYLE : ULTIMA PRODUCTS
GENERATOR / ALTERNATOR : ULTIMA PRODUCTS 32 AMP
REGULATOR / RECTIFIER / CAPACITOR : ULTIMA CHROME FINNED
WIRE CONNECTORS : DIETZ WATERPROOF
COMMENTS
WIRING HAS BEEN DONE BY OWNER TO MEET WITH REQUIRED VOLTAGE SPECS.
ALL TERMINAL ENDS ARE SOLDERED AND INSTALLED CORRECTLY. HEAT SHRINK
HAS BEEN USED TO PROTECT WIRING FROM CHAFEING AND WEATHER.
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FAIRINGS , SADDLE BAGS , TOUR PACKS ETC.
FAIRING / WINDSHIELD : N/A
SADDLE BAGS / TOUR PACK : N/A
LOWERS : N/A
BODY PANELS : N/A
SPECIALTY FINISHES
POWDER COATING : N/A
POWDER COATING COST : N/A
CHROME PLATING : O.E.M COMPONENTS / REWORKED AND
FABRICATED CUSTOM PARTS BY OWNER .
CHROME PLATING COST : $ 400.00
OTHER :
COMMENTS :
CHROME AND FINISHING OF COMPONENTS ARE AS THEY WERE SUPPLIED BY
THE MANUFACTURERS WITH EXCEPTION TO THE CUSTOM DASH MOUNT OWNER
FABRICATED.
FORWARD CONTROLS
MANUFACTURER : CHROME HORSE. 2 INCH EXTENDED
FOOTPEGS : CHROME HORSE KNURLED WITH RUBBER ISO BANDS
STYLE : CHOPPER FORWARD CONTROLS
LINKAGE : CUSTOM TRUCKER GIRL
SPECIAL FEATURES :
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EXHAUST PIPES AND MUFFLERS
\
MANUFACTURER : VANCE & HINES
STYLE : LARGE RADIUS
FINISH : CHROME
MUFFLER TYPE : INTERNAL GLASS PACK
MANUFACTURER : VANCE & HINES
FINISH : O.E.M STOCK CHROME
CLAMPS AND BRACKETS : VANCE & HINES
HEAT SHIELDS AND GUARDS : VANCE & HINES
SPECIAL FEATURES :
ADDITIONAL COMPONENTS AND SPECIALTY ITEMS
AUDIO SYSTEM : N/A
COOLING SYSTEM : N/A
FASTENERS CORRECT ? YES: X NO: TYPE: BUTTON HEADS GR/12
STARTER MOTOR : ULTIMA THUNDER FIRE 1.75 KW PUSH BUTTON
HORN : AFTER MARKET CUSTOM
PAINT
PAINTER : FINE LINE / LACOMBE ALBERTA
STYLE : SATIN BLACK WITH CLEAR COAT / METALIC BLACK WITH CLEAR COAT
TYPE OF PAINT : ENDURA
PRIMARY COLOR : BLACK
PAINT JOB DESCRIPTION : METALIC BLACK TINS / SATIN BLACK FRAME
SPECIAL FEATURES :
EIGHT COATS OF CLEAR . HAND RUBBED BETWEEN EACH COAT TO A MIRROR
FINISH .
PAINT COST : $1200.00
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ATTENTION
TO BE PROPERLY INSURED FOR YOUR APPRAISED VALUE YOU
MUST OBTAIN....
A “ STATED VALUE ” ( SEF 19A ) ENDORSEMENT FROM YOUR
INSURANCE AGENT AND HAVE IT ADDED TO YOUR INSURANCE
POLICY !
IN A TOTAL LOSS SITUATION YOU MAY BE ELIGIBLE FOR YOUR
INSURANCE COMPANY TO PAY YOU “ NO MORE / NO LESS” THAN THE
ACTUAL APPRAISED VALUE BASED ON YOUR CURRENT APPRAISAL.
WITHOUT THIS SEF 19A FORM YOU WILL NOT BE ELIGABLE FOR THE
FULL APPRAISED VALUE OF YOUR MOTORCYCLE.
CONSULT WITH YOUR INSURANCE AGENT ABOUT THE FULL
DETAILS OF THIS SEF 19A STATED VALUE FORM.
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APPRAISERS CREDENTIALS
BOB ZURUNKLE HAS BEEN INVOLVED IN THE MOTORCYCLE
INDUSTRY FOR 30 YEARS . BOB IS A CUSTOM MOTORCYCLE SHOP
OWNER , DESIGNER AND MASTER BUILDER CERTIFIED AND
REGISTERED WITH THE INTERNATIONAL MASTER BIKE BUILDERS
ASSOCIATION. BOB ALSO HOLDS A CERTIFICATE AS A REGISTERED
AND CERTIFIED INTERNATIONAL JUDGE WITH THE I.M.B.B.A.
IN ADDITION BOB HAS A P.H.D CERTIFICATE FROM THE FAIRVIEW
CAMPUS OF G.P.R.C. AS A CERTIFIED HARLEY – DAVIDSON TECH.
BOBS' HAND CRAFTED MOTORCYCLES HAVE BEEN FEATURED IN
INTERNATIONALLY ACCLAIMED MOTORCYCLE MAGAZINES WORLD
WIDE , AND HE IS A RESPECTED MOTORCYCLE BUILDER AND
DESIGNER AMONGST HIS PIERS IN THE INDUSTRY.
BOB IS ALSO AN ACCREDITED MEMBER OF THE I.M.B.B.A.
APPRAISERS PROGRAM , AND IS DEDICATED TO FURTHERING THE
ACCEPTABLE STANDARDS REGARDING THE DOCUMENTATION AND
RECORDING OF ACCURATE AND CONCISE INFORMATION AND
COMPARITIVE RESEARCH CONCERNING MOTORCYCLE APPRAISALS
BY OFFERING HIS EXPERIENCE AND KNOWLEDGE TO APPRAISERS
THROUGHOUT THE WORLD. Copies OF BOBS' CERTIFICATES CAN BE
VIEWED ON A.B.C MOTORCYCLE appraisals WEB SITE @
www.abcmotorcycleappraisals.com
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I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 192
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I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 193
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COMPARISON # 3.
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COMPARISON # 4.
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COMPARISON # 5.
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COMPARISON # 6.
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COMPARISON # 6 CONT.
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SUMMARY AND COMMENTS. 10-4
Please list all of the infractions you discovered for the Appraisal you have just
reviewed. Also explain what changes are required to make the appraisal for the
Custom Chopper Acceptable according to the Standards of the I.M.B.B.A .
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 202
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EXAMPLE APPRAISAL #3. 10-5
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I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 205
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SIGNED. DATE.
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SUMMARY AND COMMENTS. 10-6
Please list all of the infractions you discovered for the appraisal you have just
reviewed. Also explain what changes are required to make the appraisal for the
V.L.H. Acceptable according to the Standards of the I.M.B.B.A .
I.M.B.B.A APPRAISERS TRAINING MANUAL PAGE 208
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OVERVIEW AND EXPLANATION. 10-7
The three appraisal examples presented in this section are representative of some
of the styles and presentation methods used by appraisers in the industry today. As
you can see there are extreme variations with regard to content.
The International Master Bike Builders Association's Primary Goal is to
Establish and Maintain a STANDARD that ALL I.M.B.B.A CERTIFIED AND
ACCREDITED APPRAISERS are Required to use regarding Methods of
Approach, Research, Condition Rating, Value Definitions, Content, Comparative
Examples, Supporting Documentation and Presentation.
As previously discussed in this manual in Section Seven, there are certain
Responsibilities and Obligations Concerning Professional Codes of Ethics,
Standards of Care, Liability as an Appraiser, Contractual Commitments to Clients
and Presentation that are Required by ALL I.M.B.B.A Certified and Accredited
Appraisers MUST ADHERE TO.
Certified and Accredited Members of the I.M.B.B.A Appraisers program can be
confident in the knowledge that they are:
THE MOST PROFESSIONALLY TRAINED AND INFORMED
MOTORCYCLE APPRAISERS IN THE INDUSTRY!
The Certification and Accreditation Board of Directors is Committed to
Continually provide member appraisers with Current Information that concerns
the motorcycle appraisal profession, and will Diligently Acknowledge and Promote
it's Members. This Training Manual and The I.M.B.B.A Methods of Certification
and Accreditation to Insurance Industry Professionals.
CONGRATULATIONS AND THANK YOU FOR YOUR PARTICIPATION
IN THIS PROGRAM!
In the following section you will find the KNOWLEDGE TEST. Please read and
understand the questions before committing to your answers. GOOD LUCK!
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SECTION ELEVEN. 11-0
KNOWLEDGE TEST.
SECTION ELEVEN of the I.M.B.B.A Appraisers Training Manual consists of
both written and multiple choice questions to confirm the knowledge you have
obtained from this training manual.
This section accounts for 85% of your grade, and combined with the previous
exercise in Section 10, regarding the Appraisal Critiques for the three examples
that were presented for your evaluation and explanation, will total a mark of
100 %.
Please be thorough with your written explanations, and verify your answers with
supporting information on how you arrived at your conclusions if so required.
All of the questions are derived from, and have been previously explained within
the contents of this manual.
** PLEASE **
DO NOT BEGIN THIS PORTION OF THE COURSE UNTIL YOU HAVE
THOROUGHLY READ AND UNDERSTAND THE PRINCIPALS AND THE
CONTENT OF THE MANUAL!
It is STRONGLY ADVISED that you Review the Training Manual to ensure that
you are ready to proceed with the test questions.
Upon Completing the Knowledge Test and Obtaining a Passing Grade of 85 % or
Better, you will be REQUIRED to Present Three Appraisals you have Completed
for Clients that Meet or Exceed the Standards Outlined by the I.M.B.B.A
Certification and Accreditation Board in order to become Certified. Please refer to
Section 7- 10.
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KNOWLEDGE TEST 11-1
1: Name six things that the I.M.B.B.A Appraisers Program provides to meet its goal of
Appraiser development.
1.
2.
3.
4.
5.
6.
2: Name seven prerequisites required to become a Certified I.M.B.B.A Appraiser.
1.
2.
3.
4.
5.
6.
7.
3: Name six Goals that the I.M.B.B.A Appraisal Program strives to achieve within the
Appraisers Certification Program.
1.
2.
3.
4.
5.
6.
4: What does the term Professional mean to you?
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5: What does APPRAISER INTEGRITY mean to you as an I.M.B.B.A Certified Appraiser?
6: Can an I.M.B.B.A Appraiser, conduct an Appraisal on anything other than a Motorcycle or
Motorcycle related Collectables?
7: Can an I.M.B.B.A Appraiser Specialize in a specific make, model or style of Motorcycle ?
8: Name four additional Resources an I.M.B.B.A Appraiser can use to assist with researching a
Motorcycle's Value.
1.
2.
3.
4.
5.
9: Under what specific circumstances can a client's information be divulged?
10: Does the I.M.B.B.A Appraisal Program set pricing and discounts for appraisals its
members provide to clients?
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11: How long must appraisal records be kept on file?
12: If the appraisal is altered or modified in any way. Is the I.M.B.B.A Appraiser accountable?
13: What information should be kept on file?
14: What is the acceptable length of time it should take for an I.M.B.B.A Appraiser to deliver an
Appraisal from the time of inspection to completion and delivery to a client?
15: Hand written Appraisals are accepted by the I.M.B.B.A Certification and Accreditation
Board as an alternative, if computer generated or type written appraisals are not possible.
TRUE: FALSE:
16: Define Conflict of Interest, and list five examples where Conflict of Interest occur.
1.
2.
3.
4.
5.
6.
17: I.M.B.B.A Appraisers can conduct Appraisals via the internet when distance is a factor and
it is not possible to inspect the motorcycle in person.
TRUE: FALSE:
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18: I.M.B.B.A Appraisers are Trained and Instructed on PRE loss Motorcycle Appraisals only.
TRUE: FALSE:
19: What procedure must be done if minor or insignificant Conflict of Interest occurs and it is
mutually decided between the client and the I.M.B.B.A Appraiser that the appraisal can proceed?
20: Name Eight of the Twelve Rules in the I.M.B.B.A Appraisers Code of Ethics.
1.
2.
3.
4.
5.
6.
7.
8.
9.
21: What is Errors and Omissions Insurance?
22: In order to become an Accredited I.M.B.B.A Appraiser you must provide proof of Errors
and Omissions Insurance.
TRUE: FALSE:
23: Name four methods of Establishing Condition Ratings for motorcycles.
1.
2.
3.
4.
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24: It is acceptable to simply state that a motorcycle rates # 3 for condition.
TRUE: FALSE:
EXPLAINATION:
25: What is the recommended and preferred method of inspecting a motorcycle when
conducting an appraisal?
26: Name five circumstances where the value of a motorcycle would be decreased by
restoration.
1.
2.
3.
4.
5.
6.
27: What is a comparable motorcycle?
28: Name four factors that affect comparable examples.
1.
2.
3.
4.
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29: Reference guides are better sources to determine value than comparable examples.
TRUE: FALSE:
30: Name four reference guide sources.
1.
2.
3.
4.
5.
31: What cautions are needed when using reference guides to establish value?
32: What is the difference between Fair Market Value and Replacement Value?
33: Explain what a 19A Endorsement is and the Importance of it with respect to your client.
34: Name six ways to identify an Original Part from an Aftermarket replacement part.
1.
2.
3.
4.
5.
6.
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35: How relevant are Auction results from sources such as Barrett Jackson with respect to your
location?
36: Around what year did V.I.N Numbers on motorcycle begin to contain more information?
37: What year did Modern V.I.N. Numbers containing 17 digits begin ?
38: Is an I.M.B.B.A Appraiser considered to be a Professional? And if so why?
39: When does a Professional become Liable when it comes to Standard of Care?
40: Define TORT.
41: It is necessary to prove that an Appraiser intended to cause harm to be sued for negligence.
TRUE: FALSE:
42: Why is it important for I.M.B.B.A Appraisers to determine the purpose for which the client
wants the Appraisal Report?
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43: List three examples of negligence.
1.
2.
3.
4.
44: On Harley – Davidson Motorcycle prior to 1961, what do the first two digits in the serial
number tell you as an appraiser?
45: 1982 to 2002 Harley-Davidson 5th and 6th digits designate?
46: List Twelve things that must be included in an appraisal report.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
47: What is the Minimum number of Photographs acceptable in an I.M.B.B.A Appraisers
Report? And how must photographs be presented?
48: Define Provenance.
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49: Supporting documents, Brochures, Manuals, Parts, and even Period Correct Original
clothing can affect the Value of a Motorcycle and add to its Provenance.
TRUE: FALSE:
50: Name four reasons for having an appraisal done on a motorcycle.
1.
2.
3.
4.
51: An I.M.B.B.A Certified Judge and Accredited Appraiser is participating on the Judging
team at a major Motorcycle event, and is asked by the owner of one of the motorcycles he or she
is judging to conduct an appraisal on the motorcycle. Is it acceptable to do so under the
guidelines and code of ethics regulations outlined by the I.M.B.B.A Certification and
Accreditation Board? Please explain your answer in detail.
52: What is Vicarious Liability?
53: The International Master Bike Builders Association Appraisers Program regulates fees and
discounts charged by its member appraisers.
TRUE: FALSE:
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54: Name four Local resources an appraiser can use to research comparable examples.
1.
2.
3.
4.
55: Describe the difference between the Kraus Publications Method and the Old Car Price
Guide Method of determining condition rating.
56: Explain the importance of using a worksheet when conducting an appraisal.
57: Should I.M.B.B.A Appraisers conduct an appraisal on a motorcycle if they are not familiar
with the particular make, model or year of it? Please Explain your answer in detail.
58: I.M.B.B.A Appraisers can conduct an appraisal on a motorcycle they designed and Built for
a customer.
TRUE: FALSE:
59: What must I.M.B.B.A Appraisers do to each Value entry within the body of an appraisal
report?
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60: Name three important items that an I..M.B.B.A Appraiser needs to photograph when taking
pictures of the subject motorcycle and include in the appraisal report.
1.
2.
3.
61: What is the minimum Megapixel Quality a Camera used by an I.M.B.B.A Appraiser can use
to photograph motorcycles they are appraising?
62: When inspecting a motorcycle, what other identification tags are important to document?
63: Name three additional factors that can add to the value of a collector motorcycle other than
provenance.
1.
2.
3.
64: What is the minimum amount of comparable examples required as per the I.M.B.B.A
Guidelines?
65: What is the recommended time that an appraisal should be updated?
66: Values of Motorcycles can established by simply adding up invoices and depreciating the
amount for normal wear and usage.
TRUE: FALSE:
67: What is the definition of an appraiser?
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68: It is important to include your credentials as part of the appraisal report.
TRUE: FALSE:
69: It is required that I.M.B.B.A Appraisers include the names of all Experts or persons the
Consult to establish Value within the body and contents of the appraisal report.
TRUE: FALSE:
70: List six reasons that you are a good candidate to be a Certified I.M.B.B.A Appraiser.
1.
2.
3.
4.
5.
6.
71: I.M.B.B.A MEMBER Appraisers and Certified Appraisers CAN NOT use the I.M.B.B.A
Logo in their Appraisals anywhere other than on their Appraisers Credentials page.
TRUE: FALSE:
72: Explain the criteria that must be met when using Internet selling sites to research
comparative examples:
73: Name the first two things that must be established between an I.M.B.B.A Appraiser and the
client before beginning the appraisal process.
1.
2.
74: The terms Vintage and Classic have the same meaning.
TRUE: FALSE:
75: Popular Culture can affect Value when it comes to appraisals.
TRUE: FALSE:
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The following two questions are appraisal scenarios that you are asked to review
and provide assessments for. Each of these appraisal worksheets, will account for
5% of your final grade, so please be thorough and diligent in your research and
your explanations. Each example provided, will give you descriptions and
background information regarding each individual motorcycle. It is up to you as an
appraiser, to determine based on the information you are provided with, the
replacement or fair market value as requested in each scenario.
76: APPRAISAL SCENARIO #1.
A client has a 2002 Harley Davidson FLHRCI “Road King” that he is requesting
an appraisal for motorcycle insurance on. When you inspect the bike, and talk to
the owner, and he indicates that he is the second owner, his brother in law was the
first owner, and he has had the motorcycle for a number of years. Each year he
puts about 1000 kilometers on it driving to the mountains and around Calgary.
About two years ago, he added a number of bolt on Harley Davidson and
aftermarket parts. He kept all the receipts and they indicate that at the time, he
spent about $ 16,500.00 on the motorcycle. Your inspection verifies that the
motorcycle is very nice, and obviously it is well cared for. There are no paint chips
or stone marks in the chrome and the motorcycle is exceptionally clean. The tires
are new Dunlop Harley - Davidson wide white walls with very little wear. The
custom FLHRCI touring seat is original and shows very little wear.
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The original engine is spotless, and has been upgraded to 95 cubic inch . The engine starts
easily, and settles into a quiet purr with very little vibration. Your value guide checks give you the
following information.
Canadian Motorcycle Dealers Blue Book guide value for high retail value suggests $13,000, for
average retail is $ 11,600 and for low retail is $ 9,900.
You search recent local auctions and discover that a Harley Davidson FLHRCI “Road King” sold
in his area for $ 17,500.00. You have no further information on the auctioned motorcycle. There
are no newspaper adds that can be found, but on searching the internet sites you see a Harley
Davidson FLHRCI advertised for $ 17,500.00 in excellent condition for sale in Edmonton
Alberta. While researching this information, you have the Barrett Jackson auction on the TV.
and right before your eyes, another Harley Davidson FLHRCI is being sold as a completely low
mileage motorcycle. The winning bidder pays $16,500.00.
What condition rating (based on the Kraus rating system) would you place on this motorcycle?
If you prefer a different rating system, name that system and rate the motorcycle.
Using the information supplied above, show the references and sources of information and the
values you would use to establish a value for insurance purposes, for this particular motorcycle.
Reference or Source Value Estimate
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Describe the thought process you used to determine value.
Your opinion of fair market value for this Harley Davidson motorcycle is?
77: APPRAISAL SCENARIO #2.
A client has a 1973 Norton Commando Mark II Roadster and gives the following information to
you. It is a low mileage Norton that he has owned since 1973 when he bought it New off the show
room floor in Regina. The frame had an aftermarket sissy bar bolted to it and bent it slightly. The
motorcycle was taken to a local restoration expert who specializes in Norton's to have a ground
up restoration completed. There is no indication that the Norton has been ridden recently, and
the owner says that it is a show bike, and it has only been hauled in a trailer to a couple of
motorcycle shows, and has won trophies at every show he entered. The client wants an appraisal
on the motorcycle for insurance purposes. Your inspection confirms the above information is, in
fact true, and the client gives you a folder full of receipts that he says, are all of his records for
what he spent on the motorcycle including a detailed labor report.
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You look through the receipts and find out the following:
1. The Norton was purchased new in 1973 for $ 1,995.00.
2. The owner added the sissy bar and the bike was stock.
3. The frame was replaced with a new Norvil frame from the United Kingdom, and the tank
and side panels were repainted by a local paint shop. The swing arm assembly was converted
to roller bearings, and the I so-elastic System was rebuilt utilizing Vernier Mark III from
Hemming s in England. The cost was for these items was $ 2,250.00.
4. The seat was replaced from the UK for $ 350.00.
5. The engine and transmission were completely rebuilt with new bearings, pistons, and
rings. The heads were ported, new valves/springs and several new gears in the transmission
chest were replaced. The aluminum timing, transmission and primary covers were polished to
reflect a mirror finish. Amal carburetors were re sleeved to give the slides better tolerances
within the slide bores. The cost in total was $ 6,650.00.
6. New wheel rims, stainless steel spokes and Dunlop TT 100 tires and new wheel bearings
were installed. The cost was $ 1,250.00.
7. New O.E.M. fenders, handle bars were purchased and installed. The Lucas signal lights,
head light bucket were re-chromed along with the headlight bucket ears and the cost was $
1675.00. The exhaust system and mounting rubbers were replaced with new ones from Norvil.
8. The labor rate charged was 100 hours at a rate of $ 65.00/hr which totaled to $ 6,500.00.
What is your opinion of a fair market value of this motorcycle at the current time?
What is your opinion of the replacement value of this motorcycle at the current time?
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Each bit of information above, has a reference number. What reference numbers or
information if any, did you decide not to include in coming up with opinion of replacement value
for this Norton?
Describe the thought process used to determine value.
Do you have any suggestions that might improve the training manual for future appraisers?
If so please feel free to give us your input.
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SECTION TWELVE. 12-0
FORMAL APPRAISAL EXAMPLE SUBMISSIONS.
CONGRATULATIONS!
The final procedure to becoming a Certified I.M.B.B.A appraiser is to SUBMIT
THREE COMPLETED APPRAISALS you have compiled for your clients. The
appraisal file must be submitted in it's original format ( NOT P.D.F ) for review by
the Certification and Accreditation Board. Your files will be archived securely and
client confidentiality will be protected. An edited copy of the appraisals you submit
with your clients name, contact information, serial numbers and identification
numbers deleted will be entered into the I.M.B.B.A appraisal programs central
data base for future reference and use as a comparative example. All I.M.B.B.A
Certified and Accredited appraisers will have access to the Central Data Base to
assist them with their research.
Once you have submitted your three appraisals, and provided they meet with or
exceed the requirements for content and the guidelines established by the
I.M.B.B.A Certification and Accreditation Board, you will receive your notification
and be assigned your certification number.
Certified members can then further their status by becoming Accredited, and
finally, Accredited members may then qualify to become Master Appraisers and
members of the Certification and Accreditation Board if they so choose. Please
refer to SECTION 7, SUBSECTION 7-10 for details.
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HERE'S HOW FILE SUBMISSIONS
AND
THE CONFIRMATION PROCESS WORKS
● Each appraisal you conduct for a client will have an assigned appraisal file
number. All I.M.B.B.A Appraisers will start their files in the following
manner .
1: YEAR: 2012
2: FILE NUMBER: 01
3: APPRAISERS FIRST, MIDDLE & LAST INITALS.
( FOR EXAMPLE: M.G.B.) MGB
THE FILE NUMBER WILL THEN BE: 201201MGB
File numbers will then run consecutively for every additional file until the
year changes, where they will begin again with the current year, followed by
the file number beginning with 01 and your initials.
THIS FILE NUMBER MUST BE ON THE FRONT PAGE
OF EACH APPRAISAL.
● When your file is submitted for approval and archiving, a confirmation letter
will be sent to you after the Appraisal Submission Fee is Payed and
Confirmed, verifying your appraisal has been reviewed and accepted by the
Certification and Accreditation Board and the Confirmation Letter will
include your file number.
THIS CONFIRMATION LETTER MUST BE INCLUDED WITH EACH
COPY OF YOUR APPRAISAL THAT YOU PRESENT TO YOUR CLIENT!
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