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An appraisal performed by a certified art appraiser helps the purchaser gauge the artwork's fair market value and authenticity before finalizing the acquisition. Auctionhouses, galleries, and art dealers often require a certified art appraisal to estimate and reserve artwork sales prices.
At the time, the price for the entire collection was $23 million, and the foundation had to take a bank loan, with the collection as collateral, to complete the purchase. That might have been the end of the story, but there would be more developments , all of which led to the recent auction of the Taper Collection.
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