EFTA02355895.pdf

From: Richard Kahn Sent: Wednesday, February 15, 2017 8:59 PM To: jeffrey E. Subject: Fwd: Giacometti update Richard =ahn HBRK Associates Inc. Begin forwarded message: From: =/b>Heather Gray Subject: =/b>Giacometti =pdate Date: =/b>February 15, 2017 at 3:57:49 PM =ST To: =/b>Richard Kah Hi Rich, I just =poke with Ealan Wingate at Gagosian. He said that the potential buyer =f the Giacometti is now satisfied with the condition of the work and is =repared to move forward with the purchase. The buyer is LGT Group (the =amily office of the royal family of Lichtenstein) and they apparently =ave a bunch of internal steps they have to take/procedures they have to =ollow in order to make an investment. Ealan likened it to museum =cquisitions and the internal procedures museums have to follow. The upshot of all of this is that while Ealan =eels confident that the sale will go through, it will be some period of =ime before the buyer will be ready to be officially invoiced and pay. =alan said he thought it would be days and not weeks and that he would =et me know as soon as there was any movement. I just emailed Leon this =ame info in case he speaks with Jeffrey. I =on'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 =s. I assume Leon is communicating directly with Jeffrey about it. I'm out of the office until Tuesday (I just =anded in Jackson Hole - yay!!), but you can reach me by email and on my =ell (646-315-5756) and I'll keep you posted if there are any updates. =br class=""> EFTA_R1_01339653 EFTA02355895 Best, Heather Sent from my =Phone 2 EFTA_R1_01339654 EFTA02355896