SCOTTSDALE, ARIZ. — On August 26, Scottsdale Art Auction conducted its first annual online auction, offering 375 lots of fine art and sculpture, mostly from artists and with themes focusing on the American West. An original oil on board painting by Lon Megargee (American, 1883-1960), “The Last Drop from his Stetson,” was the surprise leading lot at $105,300 against a $10/15,000 estimate. Referred to as “what may be the most famous cowboy painting of all time” by the Stetson hat brand, the painting was signed and titled verso, with a date of “Spring 1922” and inscribed to an illegible Hollywood, Calif., studio. More on this and other hard charging lots to follow.