From: Richard Kahn
To: "jeffrey E." <jeevacation@grnail.com>
Subject: Re: LDB suggestion for Braque
Date: Wed, 08 Mar 2017 22:46:59 +0000
can i call you?
Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York NY 10022
On Mar 8, 2017, at 5:45 PM, jeffity E. <jeevacation®gmail.com> wrote:
ok with me
On Wed, Mar 8, 2017 at 6:41 PM, Richard Kahn > wrote:
i have not yet called sharon at christies to negotiate hammer as i wanted to discuss attached with you along
with delivery issues
Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022
Begin forwarded message:
From: Heather Gray <1
Subject: LDB suggestion for Braque
Date: March 8, 2017 at 5:35:15 PM EST
To: Richard Kahn
Hi Rich,
EFTA01052665
As I mentioned, Leon wanted to suggest to Jeffrey that if he is concerned about recouping his investment,
he may want to ask Christie's for a guarantee. Leon had me run the numbers with a $5 million guarantee to
Jeffrey, and then a split of the hammer price above $5 million as follows: 80% Jeffrey/20% Christie's for
the hammer price from $5-6 million, 70/30 for the hammer price from $6-7 million and 60/40 for the
hammer price above $7 million. In this scenario, Jeffrey shares a portion of the hammer price above $5
million with Christie's in exchange for them guaranteeing him $5 million. The last two columns on the
right (past the highlighted column) show Christie's proposal with the estimates at $5-7 million (so you can
easily compare the two scenarios). The guarantee is basically an insurance policy to protect against the
work not selling.
Best,
Heather
Heather Gray
Art Counsel
Elysium Management LLC
445 Park Avenue, Suite 1401
New York, NY 10022
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