'Antiques Roadshow:' Frederic Remington portrait worth $800K

On Monday night's episode of "Antiques Roadshow," a very special portrait painted by American artist and sculptor Frederic Remington was given a price tag even the owner couldn't believe.

"This piece, together with the letter, would be something that I would value at auction between $600,000 and $800,000," said appraiser Colleene Fesko on "Antiques Roadshow."

"Oh my goodness! I was hoping I would be wildly exuberant. I am," said Ty Dodge, the painting's owner.

Ty Dodge, the lucky owner of this incredibly valuable painting, said it had been in his family for years.

And the man depicted in the Western portrait? Dodge's own great-grandfather, Army officer Lea Febiger.

Turns out, Febiger was a good friend of Remington. He even wrote a letter that goes with the painting describing the adventures they had together back in the late 1800s.

Now, when the letter alone was valued at $2,000, we knew the painting had to be worth a pretty penny. But close to $1 million?!

Dodge said he knew the nearly 120-year-old portrait by one of the most important Western artists of the century was worth a lot. But even he was floored by just how valuable it turned out to be.

He told AL.com before the episode aired, "Frankly, I was pretty shocked. ... We had it appraised for insurance purposes back in the '60s, and it was appraised at $7,500."

But looks like Dodge won't be cashing in on the piece. He recently donated it to the Birmingham Museum of Art to include with its collection of Remington bronze sculptures.

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