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AssigneeThe Diminished Value Guide, LLC
InventorsJan van der Baan, Allen Lipp, Ryan Michael Hiller
Estimating the term…
The purpose of this patent application is to secure the exclusive right for the expression of diminished value represented as a percentage or decimal equivalent. In the field of automotive valuation there is no way to provide equality between wholesale & retail automobile markets & conflicting values—other than using percentage or decimal equivalent. At the time of this application, there is currently no standardized or truly interchangeable format in which diminished value may be calculated—especially one in which value of diminishment may be calculated using any and all existing wholesale or retail vehicle value sources. This invention will provide consumer protection from any automobile industry professional when their automobile is involved in an incident that would reduce the value of a vehicle. It will also allow for the general public to have access to the same information as any industry professional needing to determine diminished value.
1- We claim the ability to express diminished value in percentage or decimal equivalent format.
2- Diminished value may then be used in a mathematical formula to determine the revised monetary value of an automobile.
3- The use of percentage value or decimal equivalent format allows diminished value to be converted into a monetary form of diminished value in any existing wholesale or retail automobile value source.
4- The use of diminished value in the form of percentage or decimal equivalent will allow the general public use of and access to the same information as industry professionals.