<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Tuesday, August 26, 2014 11:29 AM</td></tr><tr><td>To:</td><td>Richard Joslin; lawrence delson</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

break outthings to be given apway, and things =or sale in fall

On Tue, Aug 26, 2014 at 3:09 AM, Richard Joslin <RJoslin@el=sllc.com <mailto:RJoslin@elysllc.com> > wrote:

If you'd like =e to email you the 2014 Sotheby's report, please let me know.

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From: Richard Joslin
Sent: Tuesday, August 26, 2014 3:08 AM
To: 'jeffrey E.'
Cc: lawrence delson'
Subject: FW:

File titled part I =80 shows works included in 2013 and 2014 Sotheby's reports. =AO Also shows recent acquisitions shown on 2014 report (not on 2013 Sotheb='s report). Purpose of this report is to show the change in Sotheby's fair values year over year or to cost.<=span>

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File titled part 2 =80 shows mostly items not on 2014 Sotheby's report. For items s=owing on 2014 Sotheby's report, the FO does not have invoice yet (=r needs to confirm if items should be on report). For items not showing on 2014 Sotheby's report, the reasons may be that invo=ces where not provided to Sotheby's in their field work. =AO Many smaller value items were added to the FO inventory list after disc=ssion with LDB and had heretofor never been reported by Sotheby's.=C2 In some instances the FO does not have detail on purchases of portfolio =80 s of prints and the 2014 Sotheby's report provides greater de=ail. A discrepancy may arise since the 2013 report and the invoice h=ve scant information and now the 2014 Sotheby's report has detail on a print by print basis.

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## =C2 please note

The information co=tained in this communication is confidential, may be attorney-client pr=vileged, may constitute inside information, and is intended only for

JEE

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