Cost Basis: I can think of two organizations that would be quite interested in learning more about Kerry's art sale. One, the IRS. As most people know, when you sell an asset, your gain is the sale price less what you got it for, or your cost basis. Yes, I'm sure there are various loopholes you can find to adjust this calculus, but the basic tenet holds true. So, if his wife transferred 1/2 of her interest to her husband, was it a gift or was it for some valid consideration? If a gift, it certainly would have shown up on her tax return. If a sale, then again, it would have been income to her. The question is when.

Similarly, any lender of Kerry's might like to know more about this. Assuming Kerry has a debt-load (which we know he has at least one mortgage), typically bankers require personal financial statements. Did he disclose the painting as an asset at that time? If so, he could be out of formula on his debt obligations. This is all speculation, and I'm sure he has smart enough people around him to keep him out of trouble, but those types of information would have to be consistent, and by themselves, would show how, when and for what price he acquired and then sold his interest.

The above being fascinating to all, I'm sure...