The appraised work is a hand-painted animation cel by American animator and cartoonist Friz Freleng (1906-1995). The cel depicts the iconic character Bugs Bunny and the Looney Tunes logo. Freleng was born in Kansas City, Missouri and began his career in animation at the United Film AS Service. He was friends with Walt Disney, who in 1927 asked the artist to join Walt Disney studio, where he eventually began working on Looney Tunes. The estimate provided is based on comparables recently offered and sold at auction. The appraised work's approximated size (based on photographs), composition, medium and condition (also based on images provided), as well as the artist's current auction market were taken into consideration when determining the estimate. In many cases, pricing for similar examples available on the primary (retail) market vary, and are often higher than secondary (auction) market examples.