From: "Jeffrey E." <[email protected]> To: Heather Gray Subject: Re: Date: Thu, 22 Jun 2017 12:54:50 +0000 thx. are you planning to sell anything else soon. On Thu, Jun 22, 2017 at 8:51 AM, Heather Gray < > wrote: We don't buy the insurance when we loan to museums - the museum pays for it. Yes, we have a full insurance appraisal as well as a full fair market value appraisal. The Braque and Giacometti values were the fair market values - we pretty much use the fair market values for everything we do. The only exceptions are for museum exhibitions and if we have to make a claim on Leon's own insurance (I.e., if a work of art or a piece of jewelry is damaged or stolen/lost). I'm not sure why the Giacometti result was low yesterday. Larry told Leon that he only showed the sculpture to a select group of purchasers, but we had heard rumors that it was being more widely offered, so it's hard to tell. The auction overall wasn't great - only a few really great pieces and as Leon and I discussed yesterday, it seems like a mistake on Sotheby's part to hold that separate sale of lesser valued works right before the sale with the important works. Sotheby's also had a much smaller Giacometti sculpture (12 in) which was not nearly as important as ours early on in the sale that was estimated at something like 700,000-1 million and sold for 1.8 million (plus buyer's premium). Which at first seemed to bode well for our Giacometti, but I was thinking last night that it actually may have made ours look overpriced by comparison. I'm going to ask Amy Cappellazzo at Sotheby's what she thinks went wrong (Leon has probably already spoken to her, so he may have some insight). I also want to find out if the buyer is the person who asked for extended payment terms. I'll let you know what I find out. Sent from my iPhone On Jun 22, 2017, at 8:36 AM, jeffrey E. <[email protected]> wrote: so do we buy excess insurance for exhibits etc. . do we have a full appraisal for insu