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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. In legal disputes, such as art ownership conflicts or divorce settlements, an appraisal can provide an unbiased assessment of the artwork's value and authenticity.
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. In 2019, a comprehensive study , including a series of tests, found no evidence to prove the hat’s authenticity.
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