From: Richard Kahn
To: "jeffrey E." <jeevacation@gmail.com>
Subject: Fwd: Giacometti - Christie's proposal for London
Date: Tue, 04 Apr 2017 17:32:07 +0000
Attachments: Giacometti_Muse_GBP.PDF
i spoke with heather and she said temporary import license was ok and that we should be fine for up to 2 years
before it must become permanent
christies requires an answer from us by friday on their proposal below and sotheby's is aware that we must
receive their proposal by friday as well
regarding showing to steve cohen heather was going to ask leon again as he initially did not respond to her email
from a few weeks ago..
Richard Kahn
HBRK Associates Inc.
Begin forwarded message:
From: Heather Gray
Subject: Giacometti - Christie's proposal for London
Date: April 3, 2017 at 1:02:21 PM EDT
To: Richard Kahn <
Good morning, Rich,
Leon tells me that Jeffery has decided to sell the Giacometti at auction in London in June (instead of in NY in May). I
have received Christie's proposal for an enhanced hammer option for the London sale (which I have outlined below). I
am still waiting for Sotheby's proposal.
Christie's is working on a guarantee option, as well, but they are not doing house guarantees at this point, so they would
only be able to offer a third party guarantee (like they did for the Braque). Will you please ask Jeffrey is he is okay with a
third party guarantee? If he is, Christie's will bring the potential guarantor to see the Giacometti at Chenue in Paris this
week (probably on Wednesday) and then will provide info on the guarantee.
Here is Christie's Enhanced Hammer proposal:
SUGGESTED SALE:
Impressionist & Modern Evening Sale --June 27, 2017
EFTA00646327
RECOMMENDED AUCTION ESTIMATE
£15,000,000 - 20,000,000 (they will not raise the low estimate — I already asked — but they will raise the high estimate to
25 million if Jeffrey wants them to)
TERMS OF SALE
Enhanced Hammer of 10% that will be reduced to 7% around E20,000,000 (and, once reduced, the proceeds will not
drop below £20,000,000 (as outlined on the attached chart).
PROPOSED MARKETING
Christie's would be happy to undertake the following for this work:
- A multi-page catalogue entry
- Window display at Christie's King Street
- Displayed on digital screens in selected Christie's locations globally, with a bespoke audio tour
- Featured in Christie's Magazine
- Included in the press release for the June sales of Impressionist and Modern Art
- Prominent placement in the pre-sale view and during the week of high-profile client events (cocktail reception, private
tours, dinner and lecture)
- Included in the Chinese language brochure
- TOUR to LA, NY and Hong Kong: Not only would we be happy to include the work in the LA tour (April 18 — 28) where
it will be the only London highlight at the opening of our new flagship location (as all others works that will be exhibited
are for the New York May sales) but we would also then wish to include it in the New York preview (May 6 —15) and
would also send it to Hong Kong in May during the international highlights tour. In order for the LA tour to be possible,
we would need a decision by next Friday, April 7th, so that we can ship the work to LA for arrival by April 14th.
I have also shared this info with Leon.
Please let me know if you have any questions, and if Jeffrey is comfortable with a third party guarantee on the
Giacometti. I'll send you Sotheby's proposal for London as soon as I receive it.
Best,
Heather
Heather Gray
Art Counsel
Elysium Management LLC
EFTA00646328