The Wolverines, who played with the lead for most of the second half, tied the game at 65-all with 3.3 seconds left on a jumper by Trey Woodbury. The Demon Deacons threw the in-bounds pass to 7-foot-1 Matthew Marsh, who kicked the ball out to a trailing Appleby for the wide-open game-winning shot and Marsh's first career assist.
Appleby gave Wake Forest its first lead of the overtime on an up-and-under layup between defenders that kissed off the glass.
Woodbury struggled from the field, shooting just 3 for 17 and missing all nine 3-point attempts. Still, he came up clutch for Utah Valley, hitting a jumper with just under a minute left in regulation to tie the game at 59.
Utah Valley (2-2) scored the game's first nine points and Wake Forest (3-0) answered with a 13-2 run for the first of 13 lead changes in the contest.
Appleby finished with 23 points, converting 12 of 14 shots from the free throw line, and adding seven rebounds and six assists. Andrew Carr finished with 15 points and 14 rebounds and Daivien Williamson contributed 10 points.
Justin Harmon led Utah Valley with 19 points and Le'Tre Darthard had 18. Aziz Bandaogo pulled down 17 rebounds to go with nine points.
Both Utah Valley and Wake Forest head to Jamaica for a pair of Friday games in the Jamaica Classic. The Wolverines play Morgan State and the Demon Deacons face La Salle.
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