Mr. Creel is the Chief Executive Officer of Value Resource Group, Inc. He oversees and reviews all appraisals, as well as manages data entry, programming, and appraisal staff. He is known as one of the country’s foremost experts in inventory valuation theories, techniques, aviation parts and aircraft, and liquidation exit strategies.
Mr. Creel has conducted more than 5,000 valuations to date on virtually all types of inventories. His range of experience includes manufacturing, retail, and distribution inventories in most industries. These appraisals were conducted for lending, ad valorem taxation, litigation support, and many other purposes.
Mr. Creel was responsible for creating the first proprietary inventory valuation software, which allows inventories to be valued by line item rather than globally. His creation became a critical factor for adjusting the value for mix, obsolescence, and turn. Since 1990, Mr. Creel has developed what is now considered the standard methodology within the asset-based lending community for the appraisal of aviation spares, having designed a database that includes more than 17,000,000 individual OEM part numbers. A similar database has been established and become the standard monitoring tool for oilfield tubulars and related assets.
Mr. Creel is an accredited senior member in the machinery/technical specialties discipline (Aviation) and is a contributing author of the inventory valuation course offered by the American Society of Appraisers (ASA), ME206. This upper-level course is the primary tool used by the ASA when training its members in the basics of inventory appraisals. In addition, Mr. Creel coauthored 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. He studied 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 and equipment. In 1986, he began to devote his energies to the valuation and liquidation of inventories and aviation-related assets. Under his direction, the inventory department grew in volume from approximately 15 appraisals the first year to more than 300 appraisals per year. This capacity continues with Value Resource Group, Inc.
Mr. Creel has remained an active member and course developer in the American Society of Appraisers (ASA) for more than 20 years. He has attended, contributed to, and/or tested all of the Machinery and Equipment Technical Specialties (MTS) offered by the ASA. These include:
- ME201: Introduction to Machinery and Equipment Valuation
- ME201AS: Introduction to Machinery and Equipment Valuation (Aviation-Specific)*
- ME202: Machinery and Equipment Valuation Methodology
- ME202AS: Machinery and Equipment Valuation (Aviation-Specific)*
- ME203: Advanced Topics and Case Studies
- ME204: Advanced Topics and Report Writing
- ME206: Appraisal of Inventory*
- ME208: Marine Survey
- ME 214: Identification and Appraisal of Mineral Processing Equipment
- ME215: Performing Machinery and Equipment Valuations for Financial Reporting Purposes
- SE100: Uniform Standards of Professional Appraisal Practice (Multiple Sessions; Currently Certified)
Mr. Creel is recertified as a Senior Member of the American Society of Appraisers (2017).