John Wayne Movie Hat
This hat belongs to a friend of mine, Mr. Bayless. And he furnished all the costumes for John Wayne.
The items we have here -- the hat and the two framed pieces -- kind of tie this whole thing in together. The photo up here on this side says, "Bud, nice meeting you. Michael Wayne." So right there, you got great tie-in with Michael Wayne, John's son, you and Mr. Bayless, puts you all together. Then you have a cartoon that's drawn here by a Walter Lantz artist, Jon Voght, and it says, "I know a fellow named Bud who stole a hat like that from John Wayne." So, again, now we're tying the hat in, proving provenance. To prove it's John Wayne's hat, when you open this up, we can see where it says, "Wayne #1," which shows that it was John Wayne's hat from one of the movies. And, furthermore, when you go to the side here, you can see who made the hat, which is made by Nudie's, who is one of the foremost Hollywood costume makers of the time. I wouldn't hesitate to estimate the hat anywhere from $4,000 to $6,000.
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Value can change: The value of an item is dependent upon many things, including the condition of the object itself, trends in the market for that kind of object, and the location where the item will be sold. These are just some of the reasons why the answer to the question "What's it worth?" is so often "It depends."
Note the date: Take note of the date the appraisal was recorded. This information appears in the upper left corner of the page, with the label "Appraised On." Values change over time according to market forces, so the current value of the item could be higher, lower, or the same as when our expert first appraised it.
Context is key: Listen carefully. Most of our experts will give appraisal values in context. For example, you'll often hear them say what an item is worth "at auction," or "retail," or "for insurance purposes" (replacement value). Retail prices are different from wholesale prices. Often an auctioneer will talk about what she knows best: the auction market. A shop owner will usually talk about what he knows best: the retail price he'd place on the object in his shop. And though there are no hard and fast rules, an object's auction price can often be half its retail value; yet for other objects, an auction price could be higher than retail. As a rule, however, retail and insurance/replacement values are about the same.
Verbal approximations: The values given by the experts on ANTIQUES ROADSHOW are considered "verbal approximations of value." Technically, an "appraisal" is a legal document, generally for insurance purposes, written by a qualified expert and paid for by the owner of the item. An appraisal usually involves an extensive amount of research to establish authenticity, provenance, composition, method of construction, and other important attributes of a particular object.
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