Page 1 Gerhard Richter!Abstraktes Bild (712) Sotheby’s November 13, 2012 17,442,500 USDPage 2 Gerhard Richter!Abstraktes Bild (712) Christie’s May 13, 2014 Est. 22-28m USDPage 3 Expected rise in value over18 months 26% or morePage 4 Global Art Market Value vs VolumePage 5 Value vs Volume (Detail)Page 6 Global Population of UHNWI (>$30m)Page 7 Page 8 Financial CrisisPage 9 Price of Gold Over 10 YearsPage 10 Page 11 Page 12 Page 13 2011Arab Spring! Tunisia Egypt Libya Syria Greek Debt Crisis US Debt Ceiling Fight!S & P DowngradePage 14 Page 15