In 1979 Novotny was working on his master thesis in Psychology at CSULA and in Gerontology at USC. He finished the course work for both programs and was working independently to develop his master's thesis for both programs.
His master's thesis, after two years of development, sought to identify and analyze quality of care indicators in nursing homes. Which indicators are most important to each group with an interest in quality of care? He expected to find that quality of care means something different to the patient, the family and the health care professionals that provide the medical and custodial services which his quality of care indicators would identify and measure.
As Novotny walked down Brand Blvd in Glendale 1979, thinking about his "quality of care" thesis, he noticed a department store moving out of the big building across from the Alex Theater. Novotny enquired if that building would be available for lease. He and his family were planning to open a family antiques store. Within a week the Novotny Family signed a lease and Novotny's Antiques on Brand Boulevard opened 60 days later. On grand opening day Novotny sold an oak 1920's dining room set. That set would be worth about the same today.
Since that day Novotny has not consulted with his academic master's program advisers for over 30 years. He simply walked away and never looked back. No regrets. He wonders, however, if anybody has yet defined quality of care in nursing homes?
He now focuses on the quality of his own performance, teaching the minimum quality of care standards (USPAP) to personal property appraisers and the quality of the objects he appraises. He prefers to think he remains on independent study, since he studies quality characteristics on a daily basis as it relates to the value of objects.
When Novotny's Antiques opened on Brand Blvd. in Glendale in 1979 Gary Novotny was a partner. Gary soon left the partnership to focus on Novotny's Refinishing.
The Appraiser Qualifications Board (AQB) USPAP Instructor Certification Program was implemented in February 2002 to certify USPAP Instructors to properly teach the Uniform Standards of Professional Appraisal Practice (USPAP). Since January 1, 2003, only AQB Certified USPAP Instructors have been permitted to teach the National USPAP Courses (15-hour and 7-hour courses) that are required of all appraisers. In 2003 Novotny became the first personal property appraiser to be certified as a National AQB USPAP Instructor. In October 2015 Novotny was recertified by the AQB through April 2018. He has remained current with his AQB Certification by recertifying for each new USPAP publication cycle since 2003.
Novotny has taught the Appraisal Foundation's National 15-Hour USPAP course or 7-Hour USPAP Update course yearly since 1997 for many professional personal property appraiser societies including ASA, ISA, ANA, the College For Appraisers, Appraisal Course Associates.
Novotny has presented personal property oriented USPAP classes (15 Hour and 7 Hour Updates) in various locations including San Diego, Sacramento, Dallas, Baltimore, Lincoln, Chicago, Kansas City and on multiple occasions over many years in Los Angeles. Contact Novotny to set up a 15 Hour or 7 Hour National USPAP class. He can immediately arrange for an approved USPAP Course Provider to put all of the pieces in place. Appraisers must take a 7 Hour USPAP Update Course every two years. Sign up now for a monthly 7 Hour USPAP Update Online Seminar.
In 1993 Novotny attended a weekend program at the College for Appraisers for a year during which time he studied many types of antiques, collectibles and personal property including furniture, glass, pottery, metals, primitives, Asian objects and jewelry. In 1997 he completed and passed the advanced six-day Antiques and Residential Contents Specialty Course produced by the International Society of Appraisers. See Novotny's CV for further information about his qualifications, related experience and background.
In many litigation support appraisal assignments the personal property is no longer available for inspection. Novotny brings substantial knowledge and experience to appraisal assignments in which he cannot, for many reasons, inspect the subject property. Many of Novotny's expert witness appraisal assignments are of this type. In 2008 Novotny published an article in the Journal of Advanced Appraisal Studies entitled "Equivalent Sampling" The Valuation of Loss Claims with Limited Property Descriptions.
This article offers in depth information regarding the relevant theory, methods and the appraisal requirements that apply to a personal property appraisal in which the property is destroyed, stolen, lost or converted and cannot be inspected. Such assignments have inherent limiting conditions and require assumptions that must be disclosed and that require different research techniques and analyses. He developed the paper while appraising the personal property of all the plaintiffs from the La Conchita landslide just outside of Santa Barbara that occurred on January 10, 2005.
When there are rare and unusual objects in an personal property appraisal assignment Novotny uses highly experienced and knowledgeable experts as needed. As often as not he has had experience with an equivalent or comparable property type, based on past buying, selling or researching, and has a basic understanding of how it performs in the relevant market. He may not, however, always be able to identify every critical value element for each unique property type. It is an important scope of work decision as to when to consult an expert that has the specialized knowledge regarding a subject properties characteristics. The appraiser must follow the appraisal process and do whatever is necessary to develop credible assignment results.
Read a two-part article written by Novotny that explains the appraiser's diligence obligations in the context of USPAP's two essential rules (SCOPE OF WORK RULE and COMPETENCY RULE). Novotny explores the generalists obligations from the point of view of "Which Rule Rules?"
Find out more about Novotny's extensive personal property appraisal background and experience.
In April of 2014 he published two articles in the Journal of Advanced Appraisal Studies relevant to a Market Shift Factor that underlies a statistical mass appraisal approach. Novotny, with the assistance of a PhD statistician, developed a mass appraisal, statistical solution for large losses of personal property when there are two discrepant value opinions for the same objects. Using the Stein equation in FileMakerPro, a powerful database, the mass appraisal approach, by randomly selecting a limited sample of sufficient size, using a value claim established in a competing market can predict the market shift to the larger population from which the samples were drawn with a statistically established 95% level of confidence that the values are within 10% of their true value. Such a mass appraisal approach provides significant savings in time and cost.
Novotny has been an Accredited Member (AM) of the International Society of Appraisers (ISA) since 1996. Professional appraisal society membership provides proof of training and testing prior to achieving an "Accredited" designation. ISA establishes minimum experience requirements to become a candidate, then requires in-depth study of appraisal theory, methods and practice and report writing (required course work). All candidates are tested for proper understanding and then required to pass the difficult 15 hour USPAP class. An ISA Accredited Member designation requires compliance with their Report Writing Standards, Code of Ethics and USPAP. Object knowledge is the result of extensive experience and study.
In 1996 Dave Maloney taught Novotny the basic principles of appraisal Theory, Methods, Practice and Report Writing through the nine day ISA Core Course program. Upon completion Novotny was granted the title of an Accredited Member of the International Society of Appraisers (ISA AM). Ten years later Dave Maloney and Novotny formed a partnership called Appraisal Course Associates to offer USPAP related Courses.
David Maloney is the author of the award-winning 652-page Appraising Personal Property: Principles and Methodology – 7th Edition (Appraisers Press 2007-2016) — the only definitive, complete and fully-indexed course book and reference guide to personal property appraising. For his efforts, he received the ISA’s Publication Award which is presented for the most outstanding written work involving the appraisal profession as a whole. In selecting Maloney’s book, consideration was given to the degree the work enhances the appraisal profession including the profession’s growth, credibility and image.
On page -vi- of that publication Dave acknowledges Novotny's contribution:
"For the past many years I have engaged in some enlightening appraisal theory discussions and debates with my Appraisal Course Associates partner, AQB-Certified National USPAP Course Instructor Bill Novotny ISA AM, CGA. Bill has also offered valuable critique and recommendations regarding this work. His in-depth understanding of USPAP and its underlying appraisal theory has contributed greatly to the overwhelming success of this book. Th Bill I owe a special thanks." David Maloney emailed Novotny on August 28, 2017: Attached are the two mentions of oral reports made in my book. The second incorporates your ideas regarding ensuring oral reports are not misleading and are understandable. Thanks for the input!
Frequently there is a need for a fast paced oral appraisal report only. See the extent of Novotny's experience with the many types of property for which clients seek a generalist appraiser. Novotny has provided oral appraisals regarding general antiques, collectibles and residential contents for private clients as well as for non-profit entities such as museums, libraries, special charitable events and various cities.
Find out about Novotny's expert witness specialty background. Novotny has been deposed and has provided testimony at trial on several occasions.
Find out more about the types of intended uses of an appraisal.
Find out about distant/online appraisals.
See Novotny's Service Area
CONTACT Bill Novotny now to solve your personal property valuation problem.
In 1979 Novotny opened a 21,000 sq. ft. general antique store in the heart of Glendale California. In 1987 he moved nearby to an 8,000 sq. ft. general antique and rare records store with over a quarter million records. Seven years later he opened a general antiques stores on Melrose in West Hollywood and then Novotny's Antique Mall on Lake Ave in Pasadena until 1999. He has provided appraisal services since 1993.
For his first 20 years he was an antiques and general personal property dealer acting in multiple market such as a multiple malls dealer, Rose Bowl Swap meets, high-end antique shows (such as Bustamante's for years), and then in the early 90's he branched out into estate sales and appraisals. He attended weekly and monthly local auctions wherehe both bought and sold (1979-1999). He has bought, sold, traded and consigned most types of antiques, fine art, decorative art, Native American and Asian objects, rare records (a quarter milliion 78's, 45's and LP's), most types of collectibles (dolls, toys, memorabilia, etc.) and general residential contents. He bought and sold jukeboxes, victrolas, cylinder players, scientific instruments, sports collectibles, rare objects and much more.
The first Novotny's Antique store, opened by Bill Novotny in 1979, was a 20,000 square foot store on North Brand Blvd in downtown Glendale. That building is still located directly across the street from the historic Art Deco Alex Theater
Some assignments can be challenging. Unique objects such as examples of scientific discovery or prototypes.
Assume for a moment that an original model of the helix structure of DNA required appraisal. What data might be considered relevant? An article published on 1/2/15 in Auction Central News published by Liveauctioneers reports on a December 2014 auction with relevant objects that are scientifically important and unique. It reports:
The 1962 Nobel Prize Medal in Medicine (or Physiology) given to James Dewey Watson for his work in the discovery of DNA structure, 23K gold, sold for $4.76 million at an auction held Dec. 4 by Christie's in New York. It was a new world auction record for any Nobel Prize. Also, the manuscript of Watson's acceptance speech for the award, written on Grand Hotel Stockholm stationery and dated Dec. 9, 1962, went for $365,000; and the manuscript of a lecture on DNA given by Watson on Dec. 11, 1962 made $245,000. Prices include a 20 percent buyer's premium.
The appraiser would need to consider the historic and scientific importance of the object within the related body of work of the Watson and Crick discovery.
Novotny recently developed a fair market value opinion for a William Spratling prototype sterling mask necklace with abalone and baleen developed for a proposed Alaskan Eskimo silver crafts community the government considered in the late 1940's. It is currently on exhibit at LACMA. Novotny was able to identify a Market Shift Ratio to establish value (closely related to the price paid for the necklace by the leading authority on Mexican Silver).
Call Novotny in Los Angeles area: 626-292-2224
He regularly exhibited at Bustamante Antique Show for many years and other antique shows and at several Los Angeles area antique malls including the Cranberry House, King Richards, Antique Alley at the LA Farmers Market, Kaleidoscope, Pasadena Antique Center as well as the monthly RC Canning Rose Bowl Swap Meet. Novotny retired from retail sales as an antiques dealer in 1999.
When a homeowner or renter purchases a high value Insurance policy they seek to ensure they are sufficiently covered to purchase like kind and quality replacement objects in a convenient market and time frame. This requires a personal property appraisal. Novotny is well suited to appraise rare and high valued objects of most types. Replacement value appraisals can be more challenging than determining fair market value.
Novotny has lectured at School districts, local museums, libraries and senior citizen centers and homes; during these probono appearances he frequently identifies and orally values objects for an audience.
Since 2009 Novotny has served on the expert panel for the Pasadena Historical Museum's popular community program called "Please, Please Don't Throw that Out." The Education Program Coordinator recently sent him this email:
Hi Bill, Thank you again for participating in this years Please, Please Don't Throw that Out program. We really appreciate your support of our efforts to explore grass roots history. We received a lot of positive comments from the audience. Your expertise helped to make the program successful Very best, Brad Macneil, Education Program Coordinator
Novotny's experience in the orderly liquidation market has been intense and continuous for over 28 years. Since 1979, for 20 years, he purchased most personal property types at Los Angeles and Southern California weekly, monthly and quarterly auctions. More often that not he purchased enough to fill his pick up, and often his large furniture moving truck. During the early years there were few yard sales and estate sales and few dealers large enough to purchase an entire houseful. Novotny was able to purchase dozens of complete house and apartment residential contents as well as all types of rare and special objects which were more plentiful then. It was a wonderful time to be in the antiques business.
Novotny's understanding of how typical buyers react to the various property types in the orderly liquidation market is also based on performing as an estate sale agent in the complete liquidation of household contents since 1989. His residential contents liquidations discovered many rare paintings, historical documents, important silver, fine jewelry, pottery and all kinds of other objects. He was a very active estate sale agent and liquidate the the complete contents of many dozens of homes throughout Southern California.
Most residential contents, including used furniture, appliances, wall/floor coverings, lighting, kitchen and garage contents etc. are common and typically found. Novotny has liquidated most types of property repeatedly over the years at his retail locations and at estate sales.
William Novotny, a competent personal property appraiser with 38+ years personal property valuation experience in Los Angeles and nationwide, has broad knowledge, object valuation and market experience with most types of personal property and antiques. This experience includes over 20 years as an antiques dealer, over 25 years as an estate sale agent and 25 years as an antiques and personal property appraiser. He provides complete residential contents and household goods appraisals in Southern California and nationwide as an antique and personal property generalist appraiser that is experienced in multiple market levels.
In 2002 he was the first personal property appraiser in the USA to be certified by the Appraisal Foundation as an AQB Certified USPAP Instructor. He has taught the Uniform Standards of Professional Appraisal Practice (USPAP) and USPAP 7 Hour Update classes ever since. USPAP establishes the minimum standard for ethical and competent performance for all appraisers in the USA.