EFTA01154354.pdf

ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (% (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART MANET. EDOUARD Portrait de Berthe Morisot 25,226,302 15,000,000 (10,226,302) 100.0% NARROWS FINE ART SMITH, DAVID Cubi II 25,770,000 22,000,000 (3,770,000) 100.0% APO 1 (BLACK 2 FINE ART BAROCCI, FEDERICO Christ blessing angel 6,968,000 3,500,000 (3,468,000) 100.0% APO 1 (BLACK 2 FINE ART MATISSE, HENRI Nu de Dos, 4 etat (Back IV) 53,133,722 50,000,000 (3,133,722) 100.0% APO 1 (BLACK 2 FINE ART PICASSO, PABLO Composition (Composition Au Minotaure) 18,918,808 16,000,000 (2,918,808) 100.0% APO 1 (BLACK 2 FINE ART FRAGONARD, JEAN-HON( Portrait of Francois-Henri, 5th duc d'Harcourt, 30,548,236 28,000,000 (2,548,236) 100.0% NARROWS FINE ART PICASSO, PABLO Tele d'homme 9,103,500 7,000,000 (2,103,500) 100.0% NARROWS FINE ART ROTHKO, MARK Black, White, Blue 5,429,315 3,500,000 (1,929,315) 100.0% LDB 2011 LLC FINE ART SEURAT, GEORGES Au Divan Japonais (café-concert) 7,705,456 6,000,000 (1,705,456) 100.0% NARROWS FINE ART DAVID, JACQUES-LOUIS Les amours de Paris et Helene 4,928,028 3,500,000 (1,428,028) 100.0% NARROWS FINE ART STRAET, JAN VEN DER, C Disegni Rappresentanti it Purgatorio Di Dante 1,525,000 175,000 (1,350,000) 100.0% NARROWS FINE ART KIPPENBERGER, MARTIN Untitled (from the series The Raft of the Medi. 3,819,135 2,500,000 (1,319,135) MoMA 100.0% NARROWS FINE ART PICASSO, PABLO Tele moustachue 8,165,625 7,000,000 (1,165,625) 100.0% NARROWS FINE ART DE GOYA. FRANCISCO Bull Held by a Cord 13,146,222 12,000,000 (1,146,222) 100.0% APO 2 (B FAM 1! FINE ART PERUZZI, BALDASSARE An Artist drawing a Nobleman 2,071,347 1,000,000 (1,071,347) 100.0% APO 1 (BLACK 2 FINE ART BECKMANN, MAX Studie Zu Malepartus (Study for Malepartus) 1,469,813 400,000 (1,069,813) 100.0% APO 1 (BLACK 2 FINE ART SCHIELE, EGON Self Portrait as Saint Sebastian 3,511,219 2,500,000 (1,011,219) 100.0% NARROWS FINE ART REMBRANDT VAN RIJN Christ Crucified Between Two Thieves (The T 2,384,250 1,400,000 (984,250) 100.0% APO 2 (B FAM 1! FINE ART MATISSE, HENRI Figure Decorative 13,976,040 13,000,000 (976,040) 100.0% APO 1 (BLACK 2 FINE ART PICASSO, PABLO Tele de Jeune Homme 4,447,505 3,500,000 (947,505) 100.0% NARROWS FINE ART NOGUCHI, ISAMU Personnage III (Ningen 3) 2,147,500 1,200,000 (947,500) 100.0% NARROWS FINE ART DE TOULOUSE-LAUTREC, Au bal de l'op4ra 10,968,634 10,125,000 (843,634) 100.0% NARROWS FINE ART KIEFER, ANSELM Isis on the Way 1,625,625 800,000 (825,625) 100.0% APO 2 (B FAM 1! FINE ART MUNCH. EDVARD Melancholy 1,702,098 900,000 (802,098) 100.0% NARROWS FINE ART INGRES, JEAN-AUGUSTE- Baronne Charles-Atharase Walckenear. née I 1,296,630 500,000 (796,630) 100.0% LDB 2011 LLC FINE ART GAUGUIN, PAUL L'Esprit veille (Te Arii Vahine)(Femme tahitier 3,290,086 2,500,000 (790,086) 100.0% NARROWS FINE ART DE GOYA, FRANCISCO La culpa es tuya (test de la taute) (It's all yot 2,778,085 2,000,000 (778,085) 100.0% NARROWS FINE ART MATISSE, HENRI Femme assise en blouse Roumaine motifs dE 3,266,250 2,500,000 (766,250) 100.0% Page 1 of 26 EFTA01154354  ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (°/0 (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART REMBRANDT VAN RIJN Group of six prints including the Six Portrait, 1 9,254,375 8,500,000 (754,375) 100.0% NARROWS FINE ART MANET. EDOUARD La posada (The tavern or Before the Corrida) 2,994,063 2,250,000 (744,063) 100.0% NARROWS FINE ART KLEE, PAUL Untitled 4,725,220 4,000,000 (725,220) 100.0% NARROWS FINE ART MIRO, JOAN Oiseau Lunaire 4,191,688 3,500,000 (691$88) 100.0% APO 2 (B FAM 1! FINE ART MARDEN. BRICE Untitled 1,633,125 1,000,000 (633,125) 100.0% APO 1 (BLACK 2 FINE ART SCHWITTERS, KURT Sword 3,102,938 2,500,000 (602,938) 100.0% NARROWS FINE ART GONZALEZ, JULIO Homme gothique 3,100,324 2,500,000 (600,324) 100.0% NARROWS FINE ART COROT. JEAN-BAPTISTE-t Portrait of Mlle. Jeanne Farochon 1.082.500 500,000 (582,500) 100.0% NARROWS FINE ART SCHIELE, EGON Seated Nude Violet Stockings 3,375,125 2,800,000 (575,125) 100.0% NARROWS FINE ART GAUGUIN, PAUL Self-Portrait 5,062.688 4,500,000 (562,688) 100.0% NARROWS FINE ART ZHANG HUAN Airplanes 758,625 200,000 (558,625) 100.0% APO 1 (BLACK 2 FINE ART GELLEE. CLAUDE A wooded landscape 6,674,582 6,130,500 (544,082) 100.0% APO 2 (B FAM 1! FINE ART RUBENS, PETER PAUL Meleager and Atalanta Hunting the Boar 6,021,753 5,500,000 (521,753) 100.0% NARROWS FINE ART MANET. EDOUARD Huitres 6.502.500 6,000,000 (502,500) 100.0% APO 2 (B FAM 1! FINE ART SHAPIRO, JOEL Untitled 1.181,125 700,000 (481,125) 100.0% APO 1 (BLACK 2 FINE ART GERICAULT, JEAN-LOUIS- Study For the Father in the Raft of the Medus 878,562 400,000 (478,562) 100.0% NARROWS FINE ART CEZANNE. PAUL Le jardin des Lauves: Vue sur Aix et le Cathe 5,960,625 5,500,000 (460,625) 100.0% APO 2 (B FAM 1! FINE ART KAPOOR, ANISH Untitled 1,641,846 1,200,000 (441,846) 100.0% APO 2 (B FAM 1! FINE ART REDON, ODILON Fleurs sur fond noir 1,140,563 700,000 (440,563) 100.0% NARROWS FINE ART KIRCHNER, ERNST LUDW Wettertannen (D. H 392) 1,439,992 1,000,000 (439,992) 100.0% NARROWS FINE ART MATISSE, HENRI Rendering of the Barnes Mural in Progress 2,177,500 1,750,000 (427,500) 100.0% NARROWS FINE ART SEVERINI, GINO L'autobus 1.418.229 1,000,000 (418,229) 100.0% NARROWS FINE ART CARRACCI, LUDOVICO St. John The Evangelist 877,489 460,165 (417,324) 100.0% LDS 2011 LLC FINE ART WATTEAU, JEAN-ANTOINI Study of a Seated Woman 1.407.250 1,000,000 (407,250) 100.0% APO 2 (B FAM 1! FINE ART KLINE, FRANZ Untitled 596,063 200,000 (396,063) 100.0% NARROWS FINE ART MILLET. JEAN-FRANCOIS La ravaudeuse (Madame Millet) 570,833 175,000 (395,833) 100.0% NARROWS FINE ART VAN DYCK. SIR ANTHONY Two Studies of a Bearded Man 7,893,482 7,500,000 (393,482) 100.0% APO 2 (B FAM 1! FINE ART NOGUCHI, ISAMU Bindu 732,800 350,000 (382,800) 100.0% NARROWS FINE ART SCHONGAUER Group of Prints, Including the large Crucifixior 4.355,000 4,000,000 (355,000) 100.0% Page 2 of 26 EFTA01154355  ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (°/0 (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART TINTORETTO, JACOPO R( Study of male nude lying on the ground 854,233 500,000 (354,233) 100.0% NARROWS FINE ART GIACOMETTI, DIEGO Chandelier 1,449,563 1,100,000 (349,563) 100.0% APO 2 (B FAM 1! FINE ART VAN DOESBURG, THEO Compositie 1,833,183 1,500,000 (333,183) 100.0% APO 2 (B FAM 1! FINE ART BARBIERI, GIANVANNI FR, Landscape 580,177 250,000 (330,177) 100.0% NARROWS FINE ART REDON, ODILON La Tentation de Saint-Antoine 1,573,244 1,250,000 (323,244) 100.0% NARROWS FINE ART BALDUNG, HANS Head of a Man, in Three-Quarter-Profile to th 4,022,880 3,700,000 (322,880) 100.0% NARROWS FINE ART CEZANNE. PAUL Sous-bois and Chapeau et fleurs dans une be 3,320,367 3,000,000 (320,367) 100.0% NARROWS FINE ART DAUMIER, HONORE Galerie de tableaux (Les Amateurs de tableaL 3,810,625 3,500,000 (310,625) 100.0% NARROWS FINE ART DUVET, JEAN Group of Prints including the Apocalypse 3,810,625 3,500,000 (310,625) 100.0% NARROWS FINE ART KLEE, PAUL Exotische Flusslandschatt 1.306.054 1,000,000 (306,054) 100.0% APO 2 (B FAM 1! FINE ART DE TOULOUSE-LAUTREC, LaToilette: Femme qui se lave 3,801,875 3,500,000 (301,875) 100.0% NARROWS FINE ART INGRES, JEAN-AUGUSTE- Portrait de Mlle. Jeannette Hayard 1.100,000 800,000 (300,000) 100.0% NARROWS FINE ART REDON, ODILON Bouquet de fleurs 2,800,000 2,500,000 (300,000) 100.0% APO 1 (BLACK 2 FINE ART GAINSBOROUGH, THOMA Study of a Lady, Possibly tor the Richmond V‘ 2,996,108 2,700,000 (296,108) 100.0% NARROWS FINE ART CORNELL, JOSEPH Untitled (Bird Box) 435,500 150,000 (285,500) 100.0% APO 1 (BLACK 2 FINE ART MIRO, JOAN Untitled 1.975,000 1,700,000 (275,000) 100.0% NARROWS FINE ART REDON, ODILON Les Fleurs du Mal 1,769,219 1,500,000 (269,219) 100.0% NARROWS FINE ART INGRES, JEAN-AUGUSTE- Portrait presume de Gioacchino Rossini 768,065 500,000 (268,065) 100.0% APO 2 (B FAM 1!FINE ART MUNCH. EDVARD Madonna (Liebendes Weib) 2,127,927 1,860,000 (267,927) 100.0% NARROWS FINE ART MASTER E. S. Group of 15th Century Prints, Including the ini 3,266,250 3,000,000 (266,250) 100.0% APO 1 (BLACK 2 FINE ART RUSCHA, EDWARD Egg 566,150 300,000 (266,150) 100.0% NARROWS FINE ART HALS. FRANS Portrait of a Man Holding a Book 5,263,016 5,000,000 (263,016) 100.0% NARROWS FINE ART RAUSCHENBERG, ROBER Spring Clearnace 462,719 200,000 (262,719) 100.0% NARROWS FINE ART ZUCCARO, TADDEO A Bacchic procession with drunken Silenus 341,246 80,000 (261246) 100.0% NARROWS FINE ART MIRO, JOAN Pastorale 1,056,656 800,000 (256,656) 100.0% APO 2 (B FAM 1! FINE ART CORNELL, JOSEPH Magic Soap Bubble Set 5,256,213 5,000,000 (256,213) 100.0% NARROWS FINE ART CORNELL, JOSEPH Hotel de l'Etoile (Suzy's Room) 435,500 180,000 (255,500) 100.0% NARROWS FINE ART GELLEE. CLAUDE CALLE( View of Civitavecchia with a Draughtsman an' 2,255,330 2,000,000 (255,330) 100.0% NARROWS FINE ART DELACROIX, EUGENE Portrait de Schmareck. tanneur a Tanger 800,095 550,000 (250,095) 100.0% Page 3 of 26 EFTA01154356  ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (% (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART VAN LEYDEN, LUCAS The Angel Gabriel for an Annunciation: (44.2 3,251,250 3,006,960 (244,290) 44.2% APO 2 (B FAM 1! FINE ART ENSOR, JAMES Les bons juges (The Good Judges) 1,488,645 1,250,000 (238,645) 100.0% LDB 2011 LLC FINE ART NEWMAN. BARNETT Untitled 3,226,529 3,000,000 (226,529) 100.0% APO 2 (B FAM 1! FINE ART VAN GOGH, VINCENT Le Fumeur - L'Homme a la Pipe (Portrait du C 322,494 100,000 (222,494) 100.0% NARROWS FINE ART KUBIN. ALFRED The Swarm 287,197 70,000 (217,197) 100.0% APO 2 (B FAM 1! FINE ART ENSOR, JAMES Les Nuees ou Chevauchee des Walkyries (Tt 816,846 600,000 (216,846) 100.0% NARROWS FINE ART DE GOYA. FRANCISCO Bulls of Bordeaux: a group of four (El America 714,450 500,000 (214,450) 100.0% NARROWS FINE ART KLEE, PAUL WI (In Memoriam) 2,613,000 2,400,000 (213,000) 100.0% NARROWS FINE ART PRUD'HON, PIERRE-PAUL Portrait de Madame Pean de Saint-Gilles 453,688 250,000 (203,688) 100.0% APO 2 (B FAM 1! FINE ART GROSZ. GEORGE Entdeckung in der Vorstadt 325,125 125,000 (200,125) 100.0% APO 2 (B FAM 1! FINE ART PARMIGIANINO. FRANCES Madonna of the Long Neck 1,000,000 800,000 (200,000) 100.0% NARROWS FINE ART ZHANG HUAN Ash Skull No. 14 346,800 150,000 (196,800) 100.0% NARROWS FINE ART VAN MECKENEM. ISRAHEI Group of Prints 2,177,500 2,000,000 (177,500) 100.0% NARROWS FINE ART DORER, ALBRECHT Group of Prints: Woodcuts and Engravings In 2,177,500 2,000,000 (177,500) 100.0% NARROWS FINE ART KANDINSKY. VASSILY Above and Left 6,177,375 6,000,000 (177,375) 100.0% APO 2 (B FAM 1! FINE ART DALI, SALVADOR Ants 1,076,774 900,000 (176,774) 100.0% APO 2 (B FAM 1! FINE ART NOLDE, EMIL Junges Paar 525,622 350,000 (175,622) 100.0% NARROWS FINE ART KLEE, PAUL Frauenportrait in Rot (Bertha) 1,375,000 1,200,000 (175,000) 100.0% NARROWS FINE ART GIACOMETTI, DIEGO Pair of Andirons 299,898 125,000 (174,898) 100.0% NARROWS FINE ART BRONZINO, GNOLO Seated Male Nude (Study for the Martyrdom 2,172,500 2,000,000 (172,500) Met 50.0% NARROWS FINE ART REDON, ODILON Beatrice 868,125 700,000 (168,125) 100.0% APO 2 (B FAM 1!FINE ART BONTECOU. LEE Untitled 517,156 350,000 (167,156) 100.0% NARROWS FINE ART REDON, ODILON Dans le rave (Mellerio 27-36) 205,675 40,000 (165,675) 100.0% NARROWS FINE ART RICKEY, GEORGE Two Lines Up Excentric - Twelve Feet 762,125 600,000 (162,125) 100.0% NARROWS FINE ART MILLET, JEAN-FRANQOIS Cooper Tightening Staves on a Barrel 286,863 125,000 (161,863) 100.0% NARROWS FINE ART CARPACCIO, VITTORE Study of a Lion 1,850,875 1,700,000 (150,875) 100.0% APO 1 (BLACK 2 FINE ART GAINSBOROUGH, THOMA Portrait of Caroline 4th Dutchess of Marlboro'. 2,650,562 2,500,000 (150,562) 100.0% NARROWS FINE ART GIACOMETTI, DIEGO Pedestal a l'oiseau 324,750 175,000 (149,750) 100.0% rnr;I; diT - I pill; ,I; r 100,000 (149,458) Page 4 of 26 EFTA01154357  ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (°/0 (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART CONSTABLE, JOHN Cloud Study 598,813 450,000 (148,813) 100.0% NARROWS FINE ART KLEE, PAUL Tief-Ebene (Lowlands) 1.897.564 1,750,000 (147,564) 100.0% NARROWS FINE ART LELY, SIR PETER A standing figure of a gentleman from the Prc 1,794,461 1,648,165 (146,296) 100.0% NARROWS FINE ART VALDES. MANOLO Ariadna I 695,050 550,000 (145,050) 100.0% APO 2 (B FAM 1! FINE ART PIRANESI, GIOVANNI Study of a standing man seen from behind 283,075 140,000 (143,075) 100.0% NARROWS FINE ART NOLDE, EMIL Junges Paar (S. L52) 228,969 90,000 (138,969) 100.0% NARROWS FINE ART GIACOMETTI, ALBERTO Jean-Paul Sartre 385,988 250,000 (135,988) 100.0% NARROWS FINE ART WESSELMANN, TOM Nude with Floral All (Large Black) 385,000 250,000 (135,000) 100.0% NARROWS FINE ART ENSOR. JAMES Alimentation doctrinaire - Doctrinal Nourishm€ 248,235 114,000 (134,235) 100.0% NARROWS FINE ART BECKMANN, MAX Bei der Toilette (At the Toilette) (H. 261 B; GI. 150.000 20,000 (130,000) 100.0% APO 2 (B FAM 1! FINE ART BRESDIN, RODOLPHE The Exterior of an Inn (L'Auberge Normande) 168.368 40,000 (128,368) 100.0% NARROWS FINE ART CASTELLANI, ENRICO Superficie bianca 402,315 275,000 (127,315) 100.0% NARROWS FINE ART CHASSERIAU, THEODORE Recto: Portrait of a Little Couloughi 249,022 125,000 (124,022) 100.0% NARROWS FINE ART KLEE, PAUL Weib and Tier - Inv. 1 (Kornfeld, no.13) 273.102 150,000 (123,102) 100.0% NARROWS FINE ART BRAQUE, GEORGES La table (Still Life with a Fan)t (50% interest) 2,871,938 2,750,000 (121,938) MoMA 50.0% NARROWS FINE ART KLIMT. GUSTAV Reclining Woman to the Right 570,692 450,000 (120,692) 100.0% APO 2 (B FAM 1! FINE ART GROTJAHN. MARK Untitled (Solid Cream Butterfly Drawing in Tw, 318,459 200,000 (118,459) 100.0% NARROWS FINE ART REMBRANDT VAN RIJN Christ Crucified Between Two Thieves (The T 1,517,250 1,400,000 (117,250) 100.0% APO 1 (BLACK 2 FINE ART BARBIERI, GIANVANNI FR, Reclining Nude Youth seen from behind 1.434.450 1,318,000 (116,450) 100.0% NARROWS FINE ART DELACROIX, EUGENE Mari4e juive a Tanger 1.115.000 1,000,000 (115,000) 100.0% NARROWS FINE ART WRIGHT OF DERBY, JOSE A Grotto in the Gulf of Salerno. Morning and / 1.408.875 1,300,000 (108,875) 100.0% APO 2 (B FAM 1! FINE ART MATTA, ROBERTO Sans titre (Untitled) 233,006 125,000 (108,006) 100.0% NARROWS FINE ART FRA BARTOLOMMEO (BA( Studies of Heads: a double-sided drawing 2.107.894 2,000,000 (107,894) 100.0% NARROWS FINE ART GROSZ. GEORGE L'uomo nuovo 1.431.161 1,325,000 (106,161) 100.0% NARROWS FINE ART KLEE, PAUL Die Schlange 1.103.888 1,000,000 (103,888) 100.0% NARROWS FINE ART BAROCCI. FEDERICO Recto: Studies of Angels and Children's Heac 503,107 400,000 (103,107) 100.0% APO 2 (B FAM 1! FINE ART KLEE, PAUL Drei sanfte Narrenworte (three gentle words c 501,914 400,000 (101,914) 100.0% NARROWS FINE ART KLEE, PAUL Chinesisch II 1,300,500 1,200,000 (100,500) 100.0% NARROWS FINE ART MATISSE, HENRI Autoportrait 270,625 175,000 (95,625) 100.0% Page 5 of 26 EFTA01154358  ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (°/* (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART KLIMT, GUSTAV Reclining Woman with Bent Arms 345,419 250,000 (95,419) 100.0% NARROWS FINE ART TURNER. R.A., JOSEPH M, Kilgarren Castle, Pembrokeshire 693.875 600,000 (93,875) 100.0% NARROWS FINE ART SERRA, RICHARD Transparency #3, 2012 193.569 100,000 (93,569) 100.0% NARROWS FINE ART DURER, ALBRECHT Adam and Eve (Bartsch 1; Meder state Ila of 1.192.125 1,100,000 (92,125) 100.0% NARROWS FINE ART SERRA, RICHARD Transparency #2, 2012 191.529 100,000 (91,529) 100.0% NARROWS FINE ART PICASSO, PABLO Etude de personnages .291.000 1,200,000 (91,000) 100.0% NARROWS FINE ART ENSOR, JAMES Self Portrait 489,938 400,000 (89,938) 100.0% NARROWS FINE ART GERICAULT, THEODORE Untitled (Leda and the Swan) ,088,750 1,000,000 (88,750) 100.0% NARROWS FINE ART DORER, ALBRECHT Saint Anthony Reading 420,802 336,500 (84,302) 100.0% NARROWS FINE ART REDON, ODILON After Edgar A. Poe (Mellerio 37-43) 162,375 80,000 (82,375) 100.0% NARROWS FINE ART BOUCHER. FRANOOIS Sheet of Studies of a Turbanned Head, a Foo 847,857 770,000 (77,857) 100.0% APO 2 (B FAM 1! FINE ART PIRANESI, GIOVANNI View of a Street with Shops (Veduta Interne d 977,625 900,000 (77,625) 100.0% NARROWS FINE ART INGRES, JEAN-AUGUSTE-Mere et enfant (Esquisse de le Martyre de Sa 200,263 125,000 (75,263) 100.0% NARROWS FINE ART SEURAT, GEORGES Cavalier sur une route ,575,214 1,500,000 (75,214) 100.0% NARROWS FINE ART LONG, RICHARD Sun Line 325,125 250,000 (75,125) 100.0% NARROWS FINE ART LONG, RICHARD Cornish Slate Cross 325,125 250,000 (75,125) 100.0% APO 2 (B FAM 1! FINE ART COURBET, GUSTAVE Portrait de Francois Sabatier 133,437 60,000 (73,437) 100.0% NARROWS FINE ART DENIS. MAURICE Jeunes filles cueillant des fleurs devant la me 572.400 500,000 (72,400) 100.0% NARROWS FINE ART FOSSE, CHARLES DE LA A mounted soldier, seen from behind 429,829 360,000 (69,829) 100.0% NARROWS FINE ART KELLY, ELLSWORTH Brushstrokes Cut into Thirty-five Squares and 293,962 225,000 (68,962) 100.0% NARROWS FINE ART PIRANESI, GIOVANNI An Architectural Fantasy with a Colossal Obe 867.000 800,000 (67,000) 100.0% NARROWS FINE ART DAUMIER, HONORE L'amateur d'estampes 315,498 250,000 (65,498) 100.0% APO 2 (B FAM 1! FINE ART GROSZ. GEORGE Kaffeehausszene (Eigenbrodelei) (Scene in a 130.000 65,000 (65,000) 100.0% APO 2 (B FAM 1! FINE ART PICASSO, PABLO Nue Endormie 13.065.000 13,000,000 (65,000) 100.0% NARROWS FINE ART BELLOWS, GEORGE WES Dempsey and Firpo (M. 181) 127,735 65,000 (62,735) 100.0% NARROWS FINE ART KHNOPFF. FERNAND De animalite 121,781 60,000 (61,781) 100.0% NARROWS FINE ART KIRCHNER, ERNST LUDW Kopf Ludwig Schames (D.H 330) 100,000 40,000 (60,000) 100.0% NARROWS FINE ART NOLDE, EMIL Junges Paar (S.L52) 150,000 90,000 (60,000) 100.0% APO 2 (B FAM 1! FINE ART BRUEGHEL THE ELDER, F Wooded Landscape with Travellers on a path 10.559,786 10,500,000 (59,786) 100.0% Page 6 of 26 EFTA01154359  ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (°/0 (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION LDB RARE BOOK LENNON. JOHN Autograph manuscript of John Lennon's lyrics 1,309,222 1,250,000 (59,222) 100.0% NARROWS FINE ART NOLDE, EMIL Junges Paar (S.L52) 233,658 175,000 (58,658) 100.0% APO 2 (B FAM 1! FINE ART DELAUNAY, ROBERT Tour Eiffel 233,544 175,000 (58,544) 100.0% NARROWS FINE ART MULTIPLE ARTISTS A Selection of Early German Prints 707,688 650,000 (57,688) 100.0% NARROWS FINE ART DAVID, JACQUES-LOUIS Portrait of a Revolutionary in Profile Facing LE 255,000 200,000 (55,000) 100.0% NARROWS FINE ART FRAGONARD, JEAN-HON( Landscape with a Double Flight of Steps and 654,913 600,000 (54,913) 100.0% NARROWS FINE ART REMBRANDT VAN RIJN The Three Trees (Bartsch 212: White/Boon, c 704,438 650,000 (54,438) 100.0% NARROWS FINE ART VASARI. GIORGIO Christ Giving Saint Peter the Keys (Le Christ 588,621 535,000 (53,621) 100.0% NARROWS FINE ART FRIEDRICH. CASPAR DAV Das grosse gehege 1,302,828 1,250,000 (52,828) 100.0% NARROWS FINE ART REMBRANDT VAN RIJN A Vagrant Couple with a Dog 672,792 620,000 (52,792) 100.0% NARROWS FINE ART BRUEGHEL THE ELDER, F The Rabbit Hunt 677,344 625,000 (52,344) 100.0% NARROWS FINE ART INGRES, JEAN-AUGUSTE- Virgil Reading the Aeneid to Augustus, Livia, 650,250 600,000 (50,250) Met 40.0% NARROWS FINE ART BEARDSLEY. AUBREY VIN The Achieving of the Sangreal 175.000 125,000 (50,000) 100.0% NARROWS FINE ART COROT. JEAN-BAPTISTE-t Rome, La Vasque de la Villa Medici 550.000 500,000 (50,000) 100.0% APO 2 (B FAM 1! FINE ART FRAGONARD, JEAN-HON( Les jardins de la villa d'Este 1,249,504 1,200,000 (49,504) 100.0% NARROWS FINE ART GIACOMETTI, DIEGO Pair of Lamps Decorated with Owl and Cup 165,622 120,000 (45,622) 100.0% NARROWS FINE ART BECKMANN, MAX Selbstbildnis mit Steifem Hut (H.180; GL.157; 120,000 75,000 (45,000) 100.0% NARROWS FINE ART REMBRANDT VAN RIJN Landscape with Three Gabled Cottages Besic 544.375 500,000 (44,375) 100.0% NARROWS FINE ART WATTEAU, JEAN-ANTOINI Untitled (Cottage) (Landscape after Campagr 544.375 500,000 (44,375) 100.0% NARROWS FINE ART DUTCH AND FLEMISH, 16* Group of prints including examples by Lucas 544.375 500,000 (44,375) 100.0% NARROWS FINE ART EARLY ITALIAN AND SPAN Group of prints including The Campagnola 544.375 500,000 (44,375) 100.0% NARROWS FINE ART BURNE-JONES, EDWARD Sir Galahad 243,563 200,000 (43,563) 100.0% NARROWS FINE ART NOLDE, EMIL Segelboat (S.H.37) 58,500 15,000 (43,500) 100.0% NARROWS FINE ART KLEE, PAUL Charme (Weiblich Anmut) Invention no. 5 (K: 103,431 60,000 (43,431) 100.0% NARROWS FINE ART ENSOR, JAMES La Vengeance de Hop Frog (Hop Frog's Rev€ 113,310 70,000 (43,310) 100.0% APO 2 (B FAM 1! FINE ART REDON, ODILON L'Araigne - The Spider 168,016 125,000 (43,016) 100.0% NARROWS FINE ART CARRACCI, ANNIBALE Return of the Prodigal Son 342.073 300,000 (42,073) 100.0% NARROWS FINE ART GREUZE, JEAN-BAPTISTE Portrait of a Young Gentleman 456,152 415,000 (41,152) 100.0% NARROWS FINE ART DAVID. JACQUES-LOUIS The Ghost of Septimus Severus Appearing to 520,200 480,000 (40,200) 100.0% Page 7 of 26 EFTA01154360  ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (°/0 (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART BOURDELLE. EMILE ANTC Penelope 60,000 20,000 (40,000) 100.0% NARROWS FINE ART KIRCHNER, ERNST LUDW Billiardspieler (ID. L290) 110,000 70,000 (40,000) 100.0% NARROWS FINE ART GAINSBOROUGH, THOMA Wooded Landscape with Figures Outside a C 189,438 150,000 (39,438) 100.0% APO 2 (B FAM 1! FINE ART RODIN, AUGUSTE Nude of a female ("Standing Nude") 164,375 125,000 (39,375) 100.0% NARROWS FINE ART SERRA, RICHARD Conrad 538,931 500,000 (38,931) 100.0% NARROWS FINE ART SERRA, RICHARD Olson 538,931 500,000 (38,931) 100.0% NARROWS FINE ART KLEE, PAUL Invention 8 - Perseus (Der Witz hat uber das 88,733 50,000 (38,733) 100.0% NARROWS FINE ART ALTDORFER, ALBRECHT A Landscape with Two Pine Trees in the Cen. 588,621 550,000 (38,621) 100.0% NARROWS FINE ART GORKY, ARSHILE Nighttime, Enigma and Nostalgia 163,375 125,000 (38,375) 100.0% NARROWS FINE ART BELLOWS, GEORGE WES A Stag at Sharkey's (M.46) 133,688 100,000 (33,688) 100.0% NARROWS FINE ART DERAIN. ANDRE Figures in a Landscape 433,000 400,000 (33,000) 100.0% NARROWS FINE ART DUBUFFET, JEAN Table au couvert dresse 92,012 60,000 (32,012) 100.0% NARROWS FINE ART GIACOMETTI, ALBERTO Lampadaire a la tete de femme 131,662 100,000 (31,662) 100.0% APO 2 (B FAM 1!FINE ART KIRCHNER, ERNST LUDW Woman in a Room (Madchen im Raum)(Ema 231,563 200,000 (31,563) 100.0% NARROWS FINE ART BURNE-JONES. EDWARD The Wise and Foolish Virgins 805,600 775,000 (30,600) 100.0% NARROWS FINE ART MODIGLIANI, AMEDEO Caryatid, Frontal View, with Background, Han 380.188 350,000 (30,188) 100.0% NARROWS FINE ART DORER, ALBRECHT Coat of Arms with a Skull 368,542 338,500 (30,042) 100.0% NARROWS FINE ART MARIN, JOHN From Crotch Isle, Maine 60.000 30,000 (30,000) 100.0% NARROWS FINE ART KIRCHNER, ERNST LUDW Artistenkind-Marcella (Dube L. 136, I of II) 80.000 50,000 (30,000) 100.0% NARROWS FINE ART HUGO, VICTOR A Figure Passing in the Horizon, a Gothic Chi 154.319 125,000 (29,319) 100.0% NARROWS FINE ART DONGEN. KEES VAN Femme a sa toilette 54.000 25,000 (29,000) 100.0% NARROWS FINE ART POUSSIN, NICOLAS Phedre with Cupid and Pegasus 728,515 700,000 (28,515) 100.0% NARROWS FINE ART GIMHONGSOK Canine Construction 127,500 100,000 (27,500) 100.0% NARROWS FINE ART DEGAS, EDGAR Danseuse mettant son bas 277,500 250,000 (27,500) 100.0% NARROWS FINE ART REDON, ODILON Caliban 325,125 300,000 (25,125) 100.0% NARROWS FINE ART TWACHTMAN. JOHN HENI Irises 55.000 30,000 (25,000) 100.0% NARROWS FINE ART GERICAULT, THEODORE Recto: Deux totes d'orientaux (The Heads of 275,000 250,000 (25,000) Met 100.0% NARROWS FINE ART MOREAU. GUSTAVE Le jeune homme et la mort (Hommage a Cha 275,000 250,000 (25,000) 100.0% APO 1 (BLACK 2 FINE ART GERICAULT. JEAN-LOUIS-La Processacion A Silene 224,745 200,000 (24,745) 100.0% Page 8 of 26 EFTA01154361  ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (°/0 (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART NOLDE, EMIL Calla and Sommerblumen 196,474 175,000 (21,474) 100.0% NARROWS FINE ART PIAZZETTA, GIAMBATTIS1 Standing Male Nude (recto), Seated Male Nu( 261,300 240,000 (21,300) 100.0% APO 2 (B FAM 1! FINE ART KIRCHNER, ERNST LUDW Die Siesta (The Siesta- Botho Graef and Hug. 60,206 40,000 (20,206) 100.0% NARROWS FINE ART BRESDIN, RODOLPHE A Battle Scene 100,131 80,000 (20,131) 100.0% NARROWS FINE ART BRESDIN, RODOLPHE A Lion Hunt 100,131 80,000 (20,131) 100.0% APO 2 (B FAM 1! FINE ART NOLDE, EMIL Der Prophet (The Prophet) 50,000 30,000 (20,000) 100.0% NARROWS FINE ART SERRA, RICHARD Solid No. 3 218,971 200,000 (18,971) 100.0% NARROWS FINE ART SERRA, RICHARD Solid No. 11 218,971 200,000 (18,971) 100.0% NARROWS FINE ART DIX, OTTO Mary