GRADUATE, PERSONAL PROPERTY APPRAISER (GPPA)
The National Auctioneers Association created the Graduate Personal Property Appraiser (GPPA) professional designation to provide Auctioneers with custom education that enhances their appraisal skills and knowledge. The GPPA program teaches students the responsibilities of being an appraiser and provides them advanced training in Uniform Standards of Professional Appraisal Practice (USPAP) guidelines.
The Appraisal Foundation of the United States recognized the GPPA designation as one of only a very few that meet their credentialing criteria in the US. Those individuals holding a current GPPA will not have to meet the new 2012 credentialing requirements (including obtaining a Bachelor’s degree) the Foundation has set forth.
The Financial Institutions Reform, Recovery and Enforcement Act of 1989 recognizes USPAP as the generally accepted appraisal standards and requires USPAP compliance for appraisers in federally related transactions. State Appraiser Certification and Licensing Boards; federal, state, and local agencies, appraisal services; and appraisal trade associations require compliance with USPAP.
The program trains Auctioneers on how to conduct a complete USPAP-compliant appraisal. GPPA instructors train students how to evaluate and understand factors that affect the value of appraised assets. GPPA students learn how to appraise personal property, antiques, machinery, equipment, farm machinery and construction equipment. GPPA candidates are taught to use a GPPA appraisal template to prepare reports. The last day of GPPA training concludes with an "Appraiser as Expert Witness" program to prepare appraisers who are called to testify in court.
To attain the GPPA designation, students must complete 35 hours of classroom training including training in the following topic areas:
- Marketing your appraisal business
- Function and responsibilities of the appraiser
- Factors effecting the value of appraised assets
- Personal property identification and valuation
- Methodology of appraisals
- Researching comps
- What to look for: Identifying marks, condition, etc.
- Drafting appraisal reports
GPPA candidates must pass an exam after completion of the course. After completion of classroom training and passing the test, candidates must submit a class appraisal report and complete the GPPA application form within 90 days. Within one year of completing the course and submitting 90-days materials, candidates must submit two client appraisals and attend the USPAP 15-hour certification course and pass its exam.
To maintain the GPPA designation and remain USPAP compliant, designees must re-certify each time USPAP regulations are revised (generally updated every two years). Re-certification can be acquired by completing the USPAP seven-hour course.