Estate of Emanuel Trompeter, Deceased, Robin Carol Trompeter Gonzalez and Janet Ilene Trompeter Polachek, Co-Executors - Page 17

          value.  (We attach hereto as appendix B a list of each item’s               
          lower and upper estimated values, agreed reserve (i.e., the                 
          minimum price at which an asset could be sold by Christie’s at              
          auction), auction price (in the case of the 19 items sold at                
          auction), high bid (in the case of the six items not sold at                
          auction), and Carmona’s appraised value.9)  These lower and upper           
          estimated values are estimates by Christie’s of the likely                  
          amounts that bidders would bid at an auction for the assets.                
          These estimated values do not reflect the requirement of                    
          Christie’s that buyers also pay to Christie’s on each sale a                
          commission equal to 15 percent of the first $50,000 of the                  
          purchase price and 10 percent of any excess.  Nor do the                    
          estimates (or the ultimate sales prices) include sales tax that             
          is payable on the sales.                                                    
               The 25 seized assets consist of 11 items of jewelry and 14             
          loose gemstones.  Of those assets, six items of jewelry and 13              
          loose gemstones were sold at the auction held by Christie’s.  The           
          remaining six assets (i.e., five items of jewelry and one loose             
          gemstone) did not sell at the auction.                                      
               The six items of jewelry sold at auction for a total auction           
          price (exclusive of buyer’s commissions) of $79,100.  Christie’s            

               9 The descriptions of the assets in appendix B also are                
          cross-referenced to the specific descriptions in Carmona’s report           
          by way of the number and letter in the parenthesis following the            

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