From: Richard Kahn

From: Richard Kahn To: "Jeffrey E." <[email protected]> Subject: Fwd: Giacometti update Date: Wed, 15 Feb 2017 20:59:08 +0000 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fax cel Begin forwarded message: From: Heather Gray <I Subject: Giacometti update Date: February 15, 2017 at 3:57:49 PM EST To: Richard Kahn < Hi Rich, I just spoke with Ealan Wingate at Gagosian. He said that the potential buyer of the Giacometti is now satisfied with the condition of the work and is prepared to move forward with the purchase. The buyer is LGT Group (the family office of the royal family of Lichtenstein) and they apparently have a bunch of internal steps they have to take/procedures they have to follow in order to make an investment. Ealan likened it to museum acquisitions and the internal procedures museums have to follow. The upshot of all of this is that while Ealan feels confident that the sale will go through, it will be some period of time before the buyer will be ready to be officially invoiced and pay. Ealan said he thought it would be days and not weeks and that he would let me know as soon as there was any movement. I just emailed Leon this same info in case he speaks with Jeffrey. I don't have any info on the Braque. Leon said last week that a deal was "close," but I don't know who is selling it or who the potential buyer is. I assume Leon is communicating directly with Jeffrey about it. I'm out of the office until Tuesday (I just landed in Jackson Hole - yay!!), but you can reach me by email and on my cell ( 1 and I'll keep you posted if there are any updates. Best, Heather Sent from my iPhone EFTA00650536