EFTA02654666.pdf

From: jeffrey E. <[email protected]> Sent: Friday, March 24, 2017 7:49 PM To: Richard Kahn Subject: Re: Giacometti, Figure moyenne II asdk her to call leon and check that this is trye On Fri, Mar 24, =017 at 3:31 PM, Richard Kahn <mailto below estimates are concerning as heather mentioned that christies rati=nale for low numbers may be that Mnuchin gallery unsuccessfully tried to s=ll in 2014 and then Gagosian recently has faced the same struggles. i =ttached christies may 2016 appraisal that heather provided when we purchas=d from Leon showing value of 20mm.. =/div> Richard Kahn HBRK Asso=iates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 <tel: fax <tel: cell <tel: Begin forwarded me=sage: From: Heather Gray <Subject: LDB =omments on Christie's proposal <mailto Date: March=24, 2017 at 12:26:55 PM EDT To: Richard Kahn «= href="mailto: target="_blank' Hi Rich, I just wanted to pass along to you Leon's comments on the Chri=tie's numbers. He may have already given them to Jeffrey, bu= just in case. Leon thinks they are way too low on the estimates (as=l'm sure Jeffrey does), so EFTA_R1_01899188 EFTA02654666 he's asked me to go back to the= and say estimates should be $22.5 million - $27.5 million. He also =hinks the guarantee should be no less than $20 million, so I'm goi=g to give them that feedback and we'll see what happens next.</=> Best, Heather <=u> Heather Gray =span style="font-family:'Californian FB',serif'>Art Counsel</=> Elysium Management LLC =span style="font-family:'Californian FB',serif">445 Park Avenue,=Suite 1401 New York, NY 10022 <mailto: <=> Begin forwarded message: From: Heather Gray Subject: =span style="font-family:-webkit-system-font,Helvetica Neue,Helvetica,san=-serif">FW: Giacometti, Figure moyenne II Date: March 24, 2017 at =1:49:54 AM EDT To:=Richard Kahn <mailto: Hi Rich, Here is Christie's email with esti=ates, marketing and the Enhanced Hammer option for the Giacometti. A= I mentioned, they are still working on the Guarantee and said they hoped =o be back to me later today on that or Monday at the latest. I'm still waiting for estimates and =roposals from Sotheby's. They want to see the work in person=in Paris, so I am trying to set that up for Tuesday of next week. gspan> Please let =e know if you have any questions. 2 EFTA_R1_01899189 EFTA02654667  Best, Heather From: Farber, Sheri [mailto: Sent: Friday, March 24, 2017 11:16 AM To: Heather Gray mailto Cc: Los, Maria C. c: <mailt Subject: Giacometti, Figure moyenne II As we discussed over=the telephone this morning, below please find what we propose for the spec=al and unique Giacometti, Figure moyenne II. =1u> RECOMMENDED AUCTION ESTIMATE $18,000,000 - 25,000,000<=u> TERMS OF SALE Chris=ie's will absorb all sale related costs including Seller's Commission .4e=A0 Packing and shipping * =CV Loss & Damage Liability +=A0 Marketing * *=A0 Catalogue Illustration "=A0 Plus all other incidental sale-related expenses=u> Furthermore, we would like to offer an Enhanced Hammer of 10% until P=oceeds reach $25 million or 7% thereafter, provided that the reduction in =nhanced Hammer shall not reduce Proceeds below $25 million. Please s=e the attached slide illustrating the breakdown at different levels of the Proceeds.<=u> 3 EFTA_R1_01899190 EFTA02654668  As always, we are here for=you should you have any questions or concerns. Please do not hesitat= to reach out for any reason. All =ur best, Sheri and Maria=/u> Sheri Farber =span style="color:#7f7f7f">Senior Vice President/Senior Directorab> <mailto: Visit www.christies=com <http://www.christies.com/> to explore special multi-media sale promotions, browse our illustr=ted catalogues and leave absentee bids through LotFinder(R), Christie'= online search engine, and register for Internet bidding with Christie's Live(TM). This message and any attachment are confidential. If you are not the intend=d recipient, please telephone or email the sender and delete the message a=d any attachment from your system. If you are not the intended recipient y=u must not copy this message or attachment or disclose the contents to any other person. =C24> please note The informat=on contained in this communication is confidential, may be attorney-cli=nt privileged, may constitute inside information, and is intended only =or the use of the addressee. It is the property of JEE Unauthoriz=d use, disclosure or copying of this communication or any part thereof =s strictly prohibited and may be unlawful. If you have received this 4 EFTA_R1_01899191 EFTA02654669 return e-mail o= by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies =hereof, including all attachments. copyright -all rights reserved </=iv> 5 EFTA_R1_01899192 EFTA02654670