dealership valuations

Dick Nokes Dealership Valuations rwnokes@comcast.net 901-767-8584	Dealership Valuations Since your dealership may represent the largest personal asset you have, you need an experienced Dealership Appraiser. NCM can provide that experience. Business valuations are required in a number of situations: Gifting purposes Estate tax purposes Buy / Sell agreements Assessing the adequacy of life insurance Bank financing Insurance claims Shareholder disputes Divorce Litigation support
Richard W. Nokes CPA, CVA is a recognized expert in Dealership Valuations, having prepared over 300 formal automobile dealership valuations and assisted dealers in over 500 buy/sell situations. Dick has been a featured speaker at over 75 dealership twenty groups, appeared on J.D. Power and Associates panel on buy/sells, and conducted buy/sell workshops at dealers' conventions and at the AICPA Automotive Conference. In his 46 years in the automobile industry, he has served in positions from dealership service cashier to Senior Partner with a nationally known automotive CPA firm, and in 2000 started his own practice, Richard W. Nokes PC, CPA, offering valuation, litigation support, and buy/sell services to dealers and their attorneys.
Frequently Asked Questions about Dealership Valuations: Q: A dealer will say, "I know about my store, the franchise(s) I represent and my trade area. Why should I hire someone from somewhere else to tell me what my store is worth?" A: For gifting and estate planning, for estate tax returns and for certain litigation work, a formal valuation report is required, and it must be prepared by someone familiar with the requirements of the IRS, the courts, and the association to which the valuer belongs. Q: "Why can't I use my CPA to prepare the valuation?" A: Not all CPAs issue valuation reports and some do so infrequently. Also, on occasion, your CPA may have a conflict of interest which means he would be unable to value your dealership company. And, you may be the only dealership client he has. Q: "Why can't I just send the information required to someone rather than have the valuer come to my store?" A: Should the valuer be required at some future time to give testimony about his report, one question always asked is, "Did you visit the dealership?" If the answer is no, the valuer and the valuation lose credibility. No dealer would put a value on a used car without seeing the car. Q: "I own several stores that my tax and estate planner tells me I need to have valued. The cost for that work could be very expensive. How do I keep the fee reasonable?" A: When two or more stores are valued on the same trip, discounts are appropriate. And, the travel cost is spread among the stores. Q: "I need to have my real estate valued also. Does your work cover that appraisal?" A: No. An appraisal, or an update of a recent appraisal, should be prepared by a qualified real estate appraiser. If your real estate is not owned by the dealership company and no gifting or transfer involves the real estate, no appraisal should be required. Q: "Why should I retain Dick Nokes to value my dealership company?" A: 11 years in a dealership office, 31 years at an automotive CPA firm, and 4 years self-employed serving dealers, valuing stores and assisting in buy/sell situations: 46 years total experience.

For more information call Dick Nokes at 901-767-8584.

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