GUEST: My father had loaned some money to a relative. In payment, some years later, the debt, he would receive this painting.
APPRAISER: And do you know how much, approximately, that loan was or were there any circumstances around it that you remember being told?
GUEST: I don't know exactly. It was, you know, $15,000, $20,000, I think.
APPRAISER: Okay. The artist's name is Adolph Shulz, and Shulz lived most of his life in Brown County, Indiana. He was really responsible for starting the Brown County school of artists.
GUEST: Okay.
APPRAISER: Shulz spent most of his time in a town called Nashville, Indiana, which is south of Indianapolis. And it's titled on the back "Looking Over Nashville."
GUEST: We mistakenly thought it was Nashville, Tennessee.
APPRAISER: Nashville is sort of a little-known artists' community in Indianapolis, around the turn of the century. Shulz exhibited quite a bit at the Hoosier Salon, which was just north of Indianapolis. It was an art exhibit, once a year, and it was juried. And he was well-known for his exhibitions there.
GUEST: Okay.
And most of his work that is most sought after by collectors are scenes of Nashville.
GUEST: Okay.
APPRAISER: It's an oil on board. And often, I've seen his work on board. It tends to hold up relatively well, and not require a great deal of restoration. It's signed here in the lower right, and it's dated July 29, 1926, and it was probably exhibited shortly after it was painted.
GUEST: Okay.
APPRAISER: The market is not the same as it once was, but a current fair market value at auction, you could reasonably expect a value of $10,000 to $15,000.
GUEST: Okay, very good. That would be good.
APPRAISER: Does that surprise you?
GUEST: It does!
APPRAISER: At the height of the market, it would have had a value, about ten or 15 years ago, in the $30,000 to $50,000 range.
GUEST: Okay.
