John Smith is an art collector with a large and valuable collection of ancient Greek pottery. In June 2009 he loans his collection to the Metropolitan Art Museum, which includes it in an exhibit on ancient art. One of the pieces, a particularly beautiful ancient amphora, is damaged while being moved in December 2009.Smith had purchased the amphora in 1997 for $50,000. 00. At the time the amphora was placed on display it had an appraised fair market value of $2,700,000.00. Although the amphora was repaired after being damaged, its value was reduced to $500,000.00. The repair had cost $100,000.00. The museum recognizes its responsibilities, and after negotiations, agrees to pay Smith $2,000,000, which it does in January 2010. The entire collection is returned to Smith, including the repaired amphora, in June 2010, when the exhibit ends.