<table><tr><th>From:</th><th>Richard Kahn</th></tr><tr><td>Sent:
To:</td><td>Thursday, April 19, 2018 8:19 PM
jeffrey E.</td></tr><tr><td>Subject:</td><td>Re: CHRISTIE'S I Exceptional Sale I Update</td></tr></table>

just spoke with Max

turns out they are only aware of 1 bidder who lost interest a =ew weeks ago as he thought 1.5mm - 2.5mm was to high.. max will be speaking with bidder at 6pm and will feel him out =y saying "if piece sold below 51mm would you have interest"

if so then max recommends changing reserve to 800k - if this =idder says not interested below $1mm max recommends leaving reserve at =1mm max said we have until 30 minutes before =uction to adjust reserve.. i told max that we all =ook like fools in mr epstein's eyes (max, christies, sharon and =yself...)

Richard Kahn
HBRK Associates Inc.
575 =exington Avenue 4th Floor
New York, NY 10022

On Apr 19, 2018, at 3:13 PM, jeffrey E. <jeevacation@gmail.com> wrote:

lower reserve to 750

On Thu, =pr 19, 2018 at 2:45 PM, Richard Kah wrote:

christies has reserve at 1mm =nd they are not requesting to lower however yesterday they had weak =ale and they are cautious

they believe there will be 2 =r so phone bidders but not yet confirmed...

The sale begins tomorrow at 11am (Lots 1 - 27). We are =ot 5. Here is the link to the sale landing page, which =ill have a button under "Sign in to bid" to "Enter: the

Sale Live."

https://www.christies.com/salelanding/index.aspx?intsaleid=27666&lid=1&saletitle=

Richard Kahn
HBRK Associates Inc.
575 =exington Avenue 4th =loor
New York, =Y 10022
██████████████████████

Begin forwarded message:

From: =/b>Richard Kahn ██████████████████████

Subject: =/b>Re: CHRISTIE’S=| Exceptional Sale | Update

Date: =/b>April 19, 2018 at 11:01:44 AM =DT

To: =/b██████████████████████████

thanks

i assume based on your email and desire =o speak there is not such a positive response to

Hercules..

Richard Kahn
HBRK Associates Inc.
575 =exington Avenue 4th =loor
New York, =Y 10022
█████████████████████

On Apr 19, 2018, at 11:00 AM, ██████████████████████ wrote:

Thank you Rich, Max is in the galleries this morning so =ill reach out after 4 pm and will also have better intel to report =ack. I understand there will not be a =equest to lower the reserve but he will update you accordingly later =his afternoon.

Best wishes,
Sharon

<u>From:</u> Richard =ahn

Sent: <u>Thursda = A I ril 19 2018 10:39 AM</u> To Subject: Re: =HRISTIE'S I Exceptional Sale I Update

i am free now thru 12pm or after 4pm thanks

Richard Kahn
HBRK Associates Inc.
575 =exington Avenue 4th =loor
New York, =Y 10022

On Apr 19, 2018, at 12:14 AM,

wrote:

Dear Rich,

Max. will =each out to you tomorrow Thursday to touch base before the sale

on =riday. How is your availability?

<u>Best =ishes,</u>

## please =ote

The information contained in this =ommunication is confidential, may be attorney-client =rivileged, may constitute inside information, and is =ntended only for the use of the addressee. It is the =roperty of JEE

Unauthorized use, disclosure =r copying of this communication or any part thereof is =trictly prohibited and may be unlawful. If you have =eceived this communication in error, please notify us =mmediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this =ommunication and all copies thereof, including all =ttachments. copyright -all rights reserved

4