GUEST: Well, we brought in our-- a lithograph, uh, by Mucha.

I inherited it, actually.

My husband's great-aunt acquired it in 1923, and she found out that I was an artist, and she said the lithograph would be mine when she dies.

And she died in 1974.

APPRAISER: So, yes, the artist is Alphonse Mucha, one of the most famous Art Nouveau artists, uh, in the world.

The poster comes from 1897.

Now, one of the biggest books that was written on Alphonse Mucha counts seven different variations of this image.

One of the reasons I think it's authentic is there is metallic ink in the background.

GUEST: Right.

APPRAISER: The gold behind her head is metallic ink.

Right.

GUEST: Yes.

APPRAISER: And that is something that wouldn't be used on a reproduction.

So, what this was really referred to as, not as a poster, but as a decorative panel.

It is authentic.

But... this is not one of the seven variations that are listed in the "Mucha Catalogue Raisonné."

This is a different variation.

And the things on this that differ from the other copies are these sorts of golden wings... and this almost looks like a decorative letter "H."

And then, these six gold dots that are also done with gold ink.

Those don't exist on any other of the variations.

The other thing of great interest to me on this piece is the frame.

The frame with these beautiful Art Nouveau tendrils.

And I found out that in 2002, this piece with these unusual variations in the top, with this beautiful frame, came up for auction at a major New York auction house.

And I was like, "Hm."

To me, I thought these were added by hand, is what it looks like.

And then, I looked at the back of the frame, and on the back of the frame, there is a label from an Indianapolis art shop that was selling this piece with the title "Reverie" without the author's name.

And it said to order more copies of these, call and ask for it by name.

So, this variation is an American version, and this is the second known copy.

We know for sure it was sometime before 1923, because that's when it was given to your relative.

As we know from the label on the back, the name of the company in Indianapolis is The H.L.

Company.

And if I look at that closely, I see a stylized "H" and a stylized "L" in there.

And I do not know this for sure, but just maybe the company put their own imprint on this American version of Mucha's poster.

APPRAISER: I would think at auction now, the estimate would be between $8,000 and $12,000.

GUEST: Mm-hmm.

Okay, that's... actually, what I estimated myself.

I was thinking that might be in the-- that category, yes.

APPRAISER: I knew you knew.

(laughs) The French version of this poster would be slightly more expensive.

GUEST: Mm-hmm, right.

APPRAISER: It would be $10,000 to $15,000.

GUEST: Right.

APPRAISER: The insurance valuation would be about $15,000 would be-- would be appropriate.