Scott M. Creel, ASA

Mr. Creel is the founding Principal and Managing Partner of Value Resource Group, Inc., a full-service Appraisal, Auction, Liquidation, and Consulting firm. Mr. Creel manages all facets of appraisals and liquidations in the fields of Inventory, Aviation, Energy, and Machinery & Equipment. He is known as one of the country’s foremost experts in inventory valuation theories, techniques, Aviation Parts and Aircraft, Oil and Gas assets, and Liquidation Exit Strategies.

Mr. Creel has conducted more than 5,000 valuations and liquidations to date on virtually all types of inventories, with a total asset valuation of over $50BB. His range of experience includes aviation, energy, manufacturing, and distribution inventories. These valuation assignments have been conducted for lending purposes, auctions, ad valorem taxation, and litigation support. Mr. Creel is generally acknowledged for having implemented the first proprietary inventory valuation software in which inventories can be valued by line item rather than globally, a critical factor for adjusting value for mix, obsolescence, and turn. Since 1990, he has been developing what is now considered the standard methodology within the appraisal community for the valuation of aviation spares, engines, OCTG tubulars and related wellhead components, as well as distribution inventories.

Mr. Creel is an accredited Senior Member in the Machinery/Technical Specialties Discipline (Aviation) and is a contributing author of the valuation courses offered by the American Society of Appraisers (ASA), ME206. This upper level course is the primary tool by which the ASA trains its members in the basics of inventory appraisals. He is also co‑author of the MTS Aviation courses, ME201ACS and ME202ACS, which are the primary educational tools for appraisers seeking certification in the specialty of valuation of aviation related assets. In addition, Mr. Creel co-authored the first comprehensive monograph for inventory appraisals titled "A Guide to Understanding the Inventory Appraisal Process”.

Mr. Creel began his career as an auctioneer’s assistant in 1976. He was educated at George Washington University and Southern Methodist University. In 1980, he became a market analyst for R.S.I. Appraisal Group, where he eventually became manager of the research department. Joining MB Valuation Services, Inc. in 1984 in the same capacity, Mr. Creel continued in the valuation of machinery & equipment. In 1986, he began to devote his energies to the valuation and liquidation of inventorie , aviation related assets and oil & gas inventories. Under his direction, the inventory department grew in volume from approximately 15 appraisals the first year to more than 100 appraisals per year. This capacity continues with Value Resource Group, Inc.

Mr. Creel has over the course of a 40-year career been accepted and qualified as an expert witness, lecturer, and author throughout the U.S. and internationally, including, most notably, the Supreme Court of the Netherlands.

In addition, Mr. Creel has been an active member and course developer in the American Society of Appraisers (ASA) for over 20 years. He has attended, contributed to, and/or tested through all the Machinery and Equipment Technical Specialties (MTS) offered by the ASA. These include:

ME201-000: Introduction to Machinery and Equipment Valuation – this course covers MTS appraisal terminology; functions and purposes of appraisals; introduction of the 3 approaches to value; depreciation and factors affecting depreciation; and field inspection techniques and safety.

ME201-ACS**: Introduction to Machinery and Equipment Valuation (Aviation Specific) - this course is an introduction to proper aircraft appraisal terminology, methods, and concepts. This course will also provide a solid foundation for the complete series of the Machinery and Technical Specialties Principles of Valuation courses.

ME202-000: Machinery and Equipment Valuation Methodology – this course addresses the issues of price versus value, indirect costs, use and development of indexes, age-life concepts, recommended rounding of figures, reproduction cost new, replacement cost new and supporting conclusions for various purposes.

ME202-ACS**: Machinery and Equipment Valuation Methodology (Aviation Specific) – this course is specifically designed for aircraft appraisals. This course covers the issues of price versus value, indirect costs, use of development of indexes, recommended rounding of figures, types of value and supporting conclusions for value purposes.

ME203-000: Advanced Topics and Case Studies – this course introduces more advanced concepts and techniques, including a review of case studies illustrating a range of operating entities. This course explores exponential pricing techniques, cost estimation and reproduction versus replacement costs.

ME204-000: Advanced Topics and Report Writing – this course provides a comprehensive review of all ME courses. It reviews the application of all relevant appraisal techniques.

ME206-000**: Appraisal of Inventory - This course provides a general understanding of the glossary and definitions used in the appraisal of inventory.

ME208-000: Marine Survey – This course is designed for the appraisal professional to acquire the basic knowledge of the industry and for the marine professional to train in the specifics related to this discipline.

ME214-000: Identification and Appraisal of Mineral Processing Equipment – This course is defined to provide an understanding of the various types of mining and mineral processing equipment specific to these industries.

ME215-000: Performing Machinery and Equipment Valuations for Financial Reporting Purposes – this course outlines the applicable standards and the role the MTS appraiser plays in the valuation process, including a review of the techniques utilized in the audit review process.

SE100: Uniform Standards of Professional Appraisal Practice (Multiple Sessions; Currently Certified) – Required USPAP course.

AR201-000: Appraisal Review Management) – This course compares, contrasts and interpret real property, personal property, and business valuation standards including USPAP standards, IVS standards, RICS, AICPA, IBA, AI, ASA, AMEA, ISA, AAA, IFA, and other appraisal associations’ standards.

AR204-000: (Appraisal Review Management) – This course includes presentation and discussion relating to faulty appraisals, negligence lawsuits, workings of the appraisal sub-committee and the use and misuse of peer review committees.