Phillip D. Peck, Past President / Senior Appraiser, retired

Mr. Peck is mostly retired, but makes himself available for consultation as needed, and more frequently, a round of golf or a good cigar.

Appraisal Experience:1. Original President and owner of Revpro Appraisal Services with extensive amount of appraisals completed.

2. Previously, owner of Revpro Sales, buying and selling all types of profit producing equipment and vehicles for its portfolio, buying and selling throughout the U.S.A., Canada, Mexico and South America.

3. Previously, president of a leasing company, dealing in equipment and vehicles of all types with over twenty million dollars in equipment inventory.

4. Previously, leasing salesman dealing in all types of profit producing equipment and vehicles, appraising, buying and selling equipment and vehicles for over twenty five years.

Appraisal Disciplines:

1. Aircraft, fixed & rotor, private & commercial

2. Construction equipment & vehicles

3. Drilling equipment, oil, gas, water & service

4. Environmental equipment & vehicles

5. Farm machinery & equipment

6. Industrial machines

7. Medical equipment and F. F. & E.

8. Metal working machines & tools

9. Mobile homes

10. Household furnishings & belongings

11. Office furniture, fixtures & equipment

12. Printing & graphics equipment

13. Production & manufacturing machines & equipment

14. Restaurant equipment

15. Retail stock inventories

16. Saw mills & finished wood production plants

17. Transportation equipment, autos, buses, trucks & trailers

18. Marine, pleasure craft and commercial

19. Woodworking equipment

If we are not qualified in a area, that is not shown above, we have qualified associates who will participate in the appraisal within their specialty.

Value Concept Experience:

1. Fair Market Value (As Is-Where Is)

2. Fair Market Value (As Used by Bankruptcy Courts)

3. Fair Market Value (IRS)

4. Fair Market Value (In Place-In Use)

5. Fair Market Value (In Place-Not In Use)

6. Orderly Liquidation Value (As Is-Where Is)

7. Orderly Liquidation Value (In Place-In Use)

8. Orderly Liquidation Value ( In Place-Not In Use)

9. Immediate Liquidation Value

10. Forced Liquidation Value

11. Insurance Values

a. Actual Cash Value (multiple definitions-report will explain)

b. Replacement cost (new)

c. Replacement cost (new) less depreciation

d. Replacement cost for comparable item (used)

e. Salvage value

12. Retail Value

13. Wholesale Value

14. Residual Value

15. Reproduction Value

16. Remaining Useful Life


Indiana University

Division of Professional Development

School of Continuing Studies

Bloomington, Indiana

1. Introduction to Personal Property Appraising

2. Personal Property Methodology and Reasoning

3. Personal Property Appraiser's Fiduciary Responsibilities

4. Appraising for the function of Liquidation

a. Federal Bankruptcy Court

b. IRS Seizures

c. The FDIC - FSLIC Liquidations

5. Advance Appraisal Considerations

a. Collateral loan appraising

b. Tax appraisal issues

c. Consumer resale

d. Consumer fraud

e. Valuation of insurance claims

f. Examination of Trial Court Decisions

6. Advance Report Writing

a. Reconciliation of Broad Evidence Rule

b. Computer aided appraisals

ISA Re-Certification courses taken on September, 8, 9, 10, & 11, 2000.

a. Appraisal Theory & Principals

b. Value & Market Definitions, Appraisal Uses

c. Federal Regulations

d. Appraisal Ethics, USPAP

e. Report Writing

f. Standard Identification

g. Market & Value Research

h. Legal issues

i. Business Practices

j. Basic Appraisal Techniques

American Society of Appraisers, ME 201AS, Introduction to M. & E. Valuations (Aviation Specific),

Philadelphia, PA., June 3, 2004 thru June 7, 2004.


International Society of Appraisers, Accredited Member (ISA) achieved through courses and testing in Appraiser Principles and Procedures at Indiana University.

Louisiana Chapter of ISA. President (1988-1990)

Chairman ISA. Machinery & Equipment Committee. (1992 thru 1996)

American Society of Appraisers. Mr. Peck was designated Accredited Senior Appraiser (ASA) by the International Board of Governors and Examiners in Machinery & Technical Specialties/ Machinery & Equipment from 1996 until 2010.


Served as expert witness:

1. U.S. Bankruptcy Courts

2. Federal District Courts

3. Louisiana State Courts

Speaker on Appraisal Standards

Speaker on Practical Solutions To Everyday Machinery & Equipment Appraisal Problems.

Author of ISA Specialty Course 202 and Test for certification in the International Society of Appraisers', Machinery and Equipment Division . This Specialty Course was approved and accredited by University of Maryland.

Instructor for Course 202, The Appraisal of Machinery and Equipment, for the certification program of The International Society of Appraisers.

Seminars and Conferences:

1987 ISA Spring Conference - Baltimore, Maryland

1. Tax Appraisals and Assessments

2. Commercial and Industrial Insurance

3. Methods of Equipment Valuations

4. Appraisal of Construction Equipment

5. Addressing Valuation and Appraisal problems

6. Establishing source of Equipment Data

7. Auction and Liquidation

1988 ISA Spring Conference - New Orleans, Louisiana

1. Appraisal Standards

2. Construction and Related Equipment

3. Oil Field and Energy Related Equipment

4. Role of Appraiser in Bankruptcy and Reorganization Proceedings

5. Appraisal Report Writing Clinic

6. Insurance Report Writing (Importance of Appraisal)

7. Responsibility to Clients and Third Parties

1988 University of Texas - Austin, Texas - Seminar

1. Overview of Valuation Issues in Bankruptcy cases

2. Adequate Protection and Valuation issues

3. Valuation Issues in Plans of Reorganization

1994 Spring Conference (ISA) - Boston, Mass.

1994 Uniform Standards of Professional Appraisal Practice Certification

Course dates-May 20-21, 1994

1994 Conference (American Society of Appraisers) - Chicago, IL.

1995 Conference (International Society of Appraisers) - Chicago, IL.

1. Conflicts of Interest in the Appraisal Profession

2. The Methodology Involved in the Appraisal of Food

Service and Restaurant Equipment.

3. Appraising Construction Equipment

4. The Appraisal of Manufacturing and Plant Equipment

5. Appraisal of Modern Printing Equipment Plants and the Effects the Rapid Changes in Technology have and are having on Appraisals.

6. Methodology from start to finish in the Appraisal of Oil Field Machinery and Equipment

1996 Conference (International Society of Appraisers) - Houston, TX.

1998 Basic Machinery Identification Conference - Detroit, Michigan (ASA)

1. Basic Metalworking

2. CNC. Metalworking

3. Gear Equipment

4. Construction Equipment

5. Metalworking Presses

1999 Uniform Standards of Professional Appraisal Practice Certification

Course dates-December 17, 18, 1999.(for re-certification)

2000 Valuation 2000 Conference, July, 2000, Las Vegas, Nevada.

1. Appraising Medical Equipment

2. Leasing Industry Practices & Residual Valuation

3. Ad Valorem Tax Valuation Assignments

4. The Mechanics of Valuation of Commercial Vessels

5. Merger & Acquisitions in the .com Age

6. Iowa Curves-Use & Misuse in Valuations

7. Valuations of Fixtures & Tenant Improvements

American Society of Appraisers mandatory Re accreditation Program was completed as per the Bylaws and Administrative Rules and will remain valid through January 22, 2006.

International Society of Appraisers Re accreditation three day course was taken and passed in December, 2000 and all the Professional Development Points were completed and the Re accreditation will be valid through October, 2006.

March 2003, American Society of Appraisers Machinery and Technical Specialties seminar, Chicago, IL.,

CNC machines and other machine shop support equipment, values and market conditions.

March 2004 American Society of Appraisers Machinery and Technical Specialties seminar, Chicago, IL.,

Grinders, lathes, retrofits and market conditions.

March 2004 American Society of Appraisers Machinery and Technical Specialties seminar, Chicago, IL.,

Printing equipment, pre press, multi presses and market conditions.