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Late Edition Today, becoming cloudy, afternoon and evening showers or heavy thunderstorms, high 74. Tonight, cloudy, low 47. Tomorrow, sunny, high 56. Weather map appears on Page A24.

P2JW316000-0-M00100-1--------XA

VOL. CLXVI . . . No. 57,405 +

WSJ. MAGAZINE

Neil deGrasse Tyson on the home in the Bronx where he first gazed at the stars M7 HOMES

MARKETS

PEOPLE

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VALUES

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the innovators issue, in tomorrow’s paper

REDOS

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YEN 102.99 By NICHOLAS CONFESSORE

Candidates Push to Bolster Turnout

What’s News

Defining the two home styles is tricky because of overlapping traits. But when it comes time to sell, modern homes have higher asking prices than contemporary ones.

Business & Finance

By Reid J. Epstein, Michael C. Bender and Peter Nicholas

ederal prosecutors, after a lengthy probe, are nearing possible criminal charges for price-collusion in the generic-drug industry. A1

sion: to energize and turn out their voters in the presidential election. The GOP vice-presidential candidate, Indiana Gov. Mike

Pence, visited Iowa and was joined on the campaign trail by Texas Sen. Ted Cruz, a onetime fierce rival to the Republican nominee. Mr. Trump’s wife, Melania Trump, made a rare campaign appearance in Pennsylvania. Mr. Trump headlined events in Florida and North Carolina. Virginia Sen. Tim Kaine, the Democratic vice-presidential candidate, headed to Arizona, where he used his fluency in Spanish to rally Latino voters.

 Chinese mogul’s connection to nominees.......................... A4  At rally, Melania Trump calls for civility................... A4  Soros donates to local prosecutor races................ A6

The Democratic nominee’s primary rival, Vermont Sen. Bernie Sanders, revved up young voters in Ohio, and her husband, former President Bill Clinton,

headed for Las Vegas. Mrs. Clinton held events in North Carolina. While volunteers collect voter information at Mr. Trump’s rallies, the Democrats are making their case in more explicit terms. “Plug this into your phones if you haven’t voted,” President Barack Obama said at a Miami rally on Thursday before rattling off the nearest early voting location. “It’s at 10315 Northwest 12th Street in Doral. So

The Wall Street Journal (WSJ) represents credibility

 The BOE played down the chance of rate cuts soon, saying it expects the Brexit decision’s early impact to be less than previously thought. A8

and influence and continues to be the leading

environment luxury estate clients to connect Iraqi Forces Open Up for Road to real Freedom for Mosul Residents

Ruling Puts Twist In U.K. Exit Plans

 VW’s efforts to cut costs face a roadblock as shareholders and labor representatives meet Friday about B1 restructuring plans. MOSTLY MODERN This home in Beverly Hills, Calif., has classic modern features like a flat roof, boxy exteriors and industrial materials like concrete and steel. Trip Haenisch and his partner Hadi Halawani

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 The S&P 500 fellpurchased for an the home last year for $7.2 million and made contemporary updates before relisting it for $10.95 million. eighth day, its longest stretch of declines since the financial crisis. The Dow eased 28.97 points to close at 17930.67. C1

in “Mansion,” WSJ’s global luxury real estate section, we are able to further strengthen our brand, expand

 Dozens of ex-brokers who were barred from brokerage firms have begun new careers as investment advisers. C1

visibility and deliver our message with more resounding results than ever before.

BY ALEXIS FLYNN AND JENNY GROSS

LONDON—A U.K. court put a hurdle in the country’s route out of the European Union, ruling that Prime Minister Theresa May can’t start the  Fox anchor Kelly claims process without approval from in her coming memoir that Parliament. former Fox News CEO Ailes The High Court decision ofsexually harassed her. B1 fers a potential opening to lawmakers to disrupt her plans  Google hit back at EU and steer the country toward a claims that it abuses its “soft” exit that maintains dominance in internet shopstronger ties to the bloc and a CHIEFLY B4 CONTEMPORARY This home on the big island of Hawaii has contemporary touches, including open-air living areas, ceilings with inlaid wood, multiple materials on the exterior and more pops ping and advertising. more-open immigration policy. of color in the interiors. Denise and Randall Farleigh have listed the home for $7.2 million.  GoPro swung to a deep The government said it quarterly loss and said would appeal the verdict to Bardt, an architect and professor at the Rhode homes by listings website Realtor.com. that it expects to remain the Supreme Court, which BY ALINA DIZIK Island School of Design. But actually defining the two styles is a far in the red next year. B1 would hear the case in early John Stewart, residential committee chair of trickier matter—and one that confounds many December. If the ruling is upWHAT’S THE DIFFERENCE between a “modern” the American Institute of Architects, helps explain real-estate professionals, homeowners, builders  SpaceX may lose a INhome SIGHT: An Iraqi special forces soldier puts up a helmet as a decoy while a sniper targets Islamic State positions on the eastern edge held, lawmakers would have a and a “contemporary” one? About $275,000. and even some architects. Frequently, the terms the difference. Modern homes and décor have the launch order from satellite of Mosul, Iraq. opened a major thousands of residents escape and head tolines camps from the front lines.ofA10 chance to pressure Mrs. May That’s the gapTroops in listing prices for luxury road allowing simple and far “stripped-down” aesthetic are used interchangeably. And theto definitions operator Inmarsat. B3 homes described as modern and those called con1940s, ’50s and ’60s modernism, said Mr. Stewart, have changed. “It’s rather confusing, because a to soften her terms in breakup Please turn to page M8 temporary, according to an analysis of luxury contemporary [home] keeps shifting,” said Chris negotiations with the EU. They World-Wide could delay the process or even halt it. A Long, Slow Slide The ruling introduces new  Trump, Clinton and their The S&P 500 has fallen for eight uncertainty in the process on INSIDE surrogates fanned out across straight trading days, its longest a day when the Bank of Engbattleground states to boost losing streak since the 2008 land, explaining why a further voter turnout amongAffluent likely young financial crisis, as investors cut in interest rates looked professionals, looking for high-end amenities, fuel a luxury-tower boom in the German financial hub. 4 as polls showed supporters dialed back on risk ahead of the less likely, said it expected the race tightening. A1 U.S. presidential election. C1 Brexit to weigh less heavily on  Trump leads in Arizona the economy next year than BY J.S. MARCUS S&P 500 July ’12 –2.9% Federal prosecutors, after a according to the companies’ sent shares of generic drug thought. and Texas, GOP strongholds 6 days down streaks lengthy probe, are nearing filings with the Securities and makers tumbling. Endo fell where Democrats have tried Brexit proponents called since the  Wells Fargo is in talks with a group of prosecutors examining potential abuses related to mortgages. C1

Circulation: 1,535,900 globally

MARKO DROBNJAKOVIC/ASSOCIATED PRESS

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FRILL-SEEKING IN FRANKFURT

IN THE 1960S, the Hen-

Nov. ’16

The roster of retired military officers endorsing Hillary Clinton in September glittered with decoration and rank. One former general led the American surge in Anbar, one of the most violent provinces in Iraq. Another commanded American-led allied forces battling the Taliban in Afghanistan. Yet another trained the first Iraqis to combat Islamic insurgents in their own country. But as Election Day approaches, many veterans are instead turning to Donald J. Trump, a businessman who avoided the Vietnam draft and has boasted of gathering foreign policy wisdom by watching television shows. Even as other voters abandon Mr. Trump, veterans remain among his most loyal supporters, an unlikely connection forged by the widening gulf they feel from other Americans. After 15 years at war, many who served in Iraq or Afghanistan are proud of their service but exhausted by its burdens. They distrust the political class that reshaped their lives and are frustrated by how little their fellow citizens seem to understand about their experience. Perhaps most strikingly, they welcome Mr. Trump’s blunt attacks on America’s entanglements overseas. “When we jump into wars without having a real plan, things like Vietnam and things like Iraq and Afghanistan happen,” said William Hansen, a former Marine who served two National Guard tours in Iraq. “This is 16 years. This is longer than Vietnam.” In small military towns in California and North Carolina, veterans of all eras cheer Mr. Trump’s promises to fire officials at the Department of Veterans Affairs. His attacks on political correctness evoke their frustrations with tortured rules of engagement crafted to serve political, not military, ends. In Mr. Trump’s forceful assertion of strength, they find a balm for wounds that left them broken and torn. “He calls it out,” said Joshua Macias, a former Navy petty officer and fifth-generation veteran Continued on Page A18

The New York Times

we’re making this really simple for you.” The intensity of the final push in the campaign reflects a tightening in the national and battleground-state polls. While such movement is typical at the end of a presidential campaign, both sides see a shot at victory—if they can get their voters to show up. The turnout battle in Ohio illustrates the ferocious competition between the two party’s Please see RACE page A6 FROM TOP LEFT: JOE SCHMELZER FOR THE WALL STREET JOURNAL (2)

The Wall Street Journal

Republican Donald Trump, Democrat Hillary Clinton and their surrogates fanned out across the battleground states on Thursday with the same mis-

FROM LEFT: JOSHUA FLETCHER FOR THE WALL STREET JOURNAL (2)

DJIA 17930.67 g 28.97 0.2%

Trump Holds PRESIDENT FAULTS Strong Appeal F.B.I. AND FIRES UP With Veterans

—A.L. Rowse

$2.50

NEW YORK, THURSDAY, NOVEMBER 3, 2016

‘One might even regard architecture as history arrested in stone.’

THE WALL STREET JOURNAL.

In the Friday Main News Section

The New York Times is widely recognized as the most influential news source for many of the world’s most sophisticated and loyal readers.

GREGORY SHAMUS/GETTY IMAGES

Cubs players after scratching out a win in an epic game that ended early Thursday in Cleveland. Chicago last won a title in 1908.

The Main News section provides More Torment, Outlawed Crop Fires Fuel India’s Air Pollution extensive coverage of the well above hazardous levels in the leading Then Cubs End week. Known Cause, Known past Farmers 100 miles north in PunMAULVIWALA, India — Desglobaljab events and issues of the 108-Year Wait perate were well aware that they Cure but Continuing to reduce the pollution that By GEETA ANAND

By BILLY WITZ

CLEVELAND — If you are going to endure years — no, generations — of futility and heartbreak, then when you do finally win a championship, you might as well make it a memorable one. The Chicago Cubs did just that, shattering their 108-year championship drought in epic fashion: with an 8-7, 10-inning victory over the Cleveland Indians in Game 7 of the World Series that began on Wednesday night, carried into Thursday morning and seemed to end all too soon. After the Indians rallied with three runs in the eighth inning, including a two-run thunderbolt of a home run by Rajai Davis off closer Aroldis Chapman, and then a brief rain delay, the Cubs pushed two runs across in the 10th on Ben Zobrist’s double and Miguel Montero’s single. The Indians got a run back in the bottom of the inning when Davis singled home Brandon Guyer, who had walked with two out against Carl Edwards Jr. But Mike Montgomery, the Cubs’ fifth pitcher of the night, got Michael Martinez to hit a slow roller to third base. Kris Bryant scooped it up and threw to first baseman Anthony Rizzo, and the Cubs poured out of the dugout and mobbed one another in the center of the diamond. The heart-stopping end to the series was the Cubs’ third straight victory over the Indians, allowing them to become the first team to rally from a three-games-to-one deficit in the Series since Kansas

has made New Delhi’s air quality among the worst in the world, the city has banned private cars for two-week periods and campaigned to reduce its ubiquitous fireworks during holiday celebrations. But one thing India has not seriously tried could make the most difference: curtailing the fires set to rice fields by hundreds of thousands of farmers in the nearby states of Punjab and Haryana, where much of the nation’s wheat and rice is grown. Although India’s environmental court, the National Green Tribunal, told the government last year to stop farmers from burning the straw left over from their rice harvests, NASA satellite images

were contaminating the capital’s

they said in interviews, and Health Hazard day. It air, features the editorial page were willing to consider other ways to dispose of the excess straw, but could not afford the options offered by the government. “We are smart, and we have adopted new technology in the past,” said Jaswant Singh, 53, as he watched a fire sweep across a 20-acre field near his village, Maulviwala, about 140 miles northwest of New Delhi. He planned to set his own seven-and-a-half-acre rice paddy ablaze in a couple of days, he said, “because we can’t afford to pay for the new technology ourselves.” The air was thick with smoke that evening as I drove the two hours back to Punjab’s capital, Continued on Page A6

and Op-Ed articles contributed

in recent weeks have shown virtually no abatement. Farmers are continuing to burn most of the leftover straw — an estimated 32 million tons — to make room to plant their winter wheat crop. While fireworks associated with the Hindu holiday of Diwali were blamed for a particularly bad smog problem in recent days, smoke from the crop fires blowing across the northern plains into New Delhi accounts for about onequarter of the most dangerous air pollution in the winter months. In the growing metropolis of nearly 20 million people, pollution soared

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Obama Tells Crowd in North Carolina Vote Hinges on Them This article is by Jonathan Martin, Adam Goldman and Gardiner Harris.

CHAPEL HILL, N.C. — President Obama threw the power of the White House behind Hillary Clinton on Wednesday. He faulted how the F.B.I. director, James B. Comey, handled new emails related to the investigation into Mrs. Clinton’s private server, and then shouted out to college students here in a pivotal battleground state that it was crucial that they vote because the “fate of the world is teetering.” Mr. Obama’s comments about Mr. Comey, broadcast early in the day as recent polls showed a tightening race, were striking for a president who has insisted he does not comment on F.B.I. investigations. But Mr. Obama appeared to be doing exactly that in implicitly criticizing Mr. Comey’s decision to send a vague letter last week to Congress — and by extension, the public — informing lawmakers about a discovery of new emails related to Mrs. Clinton’s use of a private server as secretary of state. “We don’t operate on incomplete information,” Mr. Obama said in an interview with NowThis News. “We don’t operate on leaks. We operate based on concrete decisions that are made.” Without mentioning Mr. Comey by name — although it was clear whom he meant — Mr. Obama suggested that the F.B.I. had violated investigative guidelines and trafficked in innuendo by alerting Congress last week. Mr. Obama’s remarks, which followed searing criticism of the F.B.I. director from Continued on Page A16

SEXUAL HARASSMENT At its core,

it is about power, and politics is a power profession. PAGE A14 TUNED IN Jay Z and other musi-

cians are going on the road to support Hillary Clinton. PAGE C1

AL DRAGO/THE NEW YORK TIMES

President Obama in Chapel Hill, N.C., on Wednesday.

In Changing Regions, Trump 5 Makes Inroads for Democrats By JONATHAN MARTIN and ALEXANDER BURNS

Saturday 5 November / Sunday 6 November 2016

Human psychology can get in the way of a secure life. Here are some ways to outwit it. SUNDAY, MARCH 27, 2016

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Dear Sir David Tang

Political turmoil here and abroad raises the level of uncertainty in the global economy. BY PAUL SULLIVAN, IAN AUSTEN, MEGHA BAHREE, ANDREW E. KRAMER, PRASHANT S. RAO, MICHAEL SCHUMAN, VINOD SREEHARSHA | PAGES 6-11 JASON LOGAN

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Charts and graphs to help clarify your financial thinking.

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In the Sunday Wealth Section With the increased focus on personal finance and sustaining wealth during economic turmoil, this important section helps ease fears with the qualified advice and dependable information. Capture some of

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I wouldn’t normally begin an email quite so formally, but I’ve been reading your new book and see you consider the briefer “Dear Sir David” to be obsequious. As there is nothing I’d like less than to appear unctuous, I’ll stick to your formula. That settled, may I crow? Last time we exchanged emails we were debating the right amount of stuff to own. Having chucked most of my belongings away, I argued that your three homes in central London, each bursting with antiques, knick-knacks and several hundred monogrammed shirts, were a bit excessive. I can’t tell you how vindicated I felt to visit you this morning in your “set” at the Albany in Piccadilly and find that you have sold one of your houses and dispatched its contents to Christie’s in one go. Hooray. This time I am writing to you as agony aunt to agony uncle, to congratulate you on the publication of your book, Rules for Modern Life, a compilation of your finest FT advice. I like the dust cover very much. At first when I saw the quotes on the back — paeans from Eric Schmidt, the Duke of Marlborough, Sir Mick Jagger, Joanna Lumley and other

Financial Times

You were right to crow about your championship of minimalism. Under your witchery, my wife tortured me to the point of total surrender. I simply threw everything out of our sevenstorey house either into a skip or to Christie’s at Kensington. There is now only an impersonal cheque from the auction house to remind me of my 20 years at Eaton Terrace. Maybe just as well, as I have never liked the uppermiddle class and Eaton Terrace is frightfully upper-middle-class. Meanwhile, I am delighted you have taken to reading my new book although you really cannot protest about my aversion to paper napkins, which are best consigned to a seedy room at a Bangkok massage parlour. As for signet rings, nobody uses them any more for sealing wax, as was originally the intention, and therefore they should be abandoned. The Duke of Edinburgh doesn’t wear one and he is the ultimate gentleman. The Prince of Wales does, but he is heir to the throne and is entitled to have an emergency seal at his fingertips. You are also wrong about a woman receiving flowers without a note. The whole point is to create a slight sense of mystery or magic. That’s why people love guessing the senders of Valentine cards. We men really understand that; but you women don’t generally. That’s why agony uncles are much more effective than agony aunts, as men would never dream of writing to women for advice, whereas they would write to other men — because men don’t trust advice from a woman, at least not in matters of intimacy or general intuition. Lucy Kellaway and David Tang at his home in Piccadilly, London — Photographs: Victoria Birkinshaw So I hope you will find more masculine pearls of wisdom from my book, and share Is it a social no-no to send Christmas cards? Are them with your own readers, who treat you as their paper napkins ever acceptable? Lucy Kellaway agony aunt. As we are very friendly colleagues at the and David Tang, the FT’s resident agony aunt FT, I will overlook any transgression on copyright. and uncle, argue over the rules for modern life Regarding the testimonials I received for the book, you seem to suggest that they were inflated and secured through past (which I swear by), alleging that they briberies of hospitality! How can you are really tissues. Isn’t the first rule of be so beastly, as my quotes of praise modern life that snobbery is no longer are as pristine as the songs of praise? OK? It was fine for the Mitfords but Or can you possibly be jealous? Yet you won’t do now. are already the longest-serving and One of the many famous people who most popular writer at the FT, so somegets a name-check in your book is the times someone else must be allowed a Queen. You talk of watching her push bit of praise. peas on to the wrong side of her fork, David Tang and suggest that if it is good enough for Her Majesty, it’s good enough for the A collection of Sir David Tang’s FT columns,7 rest of us. Are we to take your “rules” in ‘Rules For Modern Life’, will be published the same light? That if they are good next week by Penguin, £12.99 enough for Sir David Tang . . . Thank you for the delicious coffee today. Lucy To watch the video of Lucy PS. Hope you appreciate that I’m followKellaway and David Tang

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Custom-built, 5 BR, 4.5 bath Tudor near downtown draws 125 East 65th Street. Located off Park Avenue, a rare super inspiration from the adjacent 1889 Tudor estate of Mill Valley wide 35’ Neo-Georgian townhouse. Approximately 10,600 sf, founder Joseph Eastland. Grand living room, formal dining 12’ ceilings, 6 fireplaces, over 5 BR, and enchanting 35’ wide room, gourmet kitchen and master suite with fireplace and garden. WEB: 00110497. $38,000,000. Louise C. Beit. lavish bath. $4,650,000. Bill Bullock and Lydia Sarkissian. Sotheby’s International Realty

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Berlusconi, and a lesson for America Beppe Severgnini Contributing Writer

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Vast, pristine and endangered LAKE BAIKAL, RUSSIA

Russia’s Lake Baikal, called the world’s cleanest, is invaded by toxic algae BY RACHEL NUWER

Yury Azhichakov set out early by bike for Senogda Bay, his favorite beach, on the northwestern shore of Lake Baikal in Siberia. The world’s oldest, deepest and most voluminous lake, Baikal holds 20 percent of the planet’s unfrozen freshwater. It is often described as the world’s cleanest lake. As Mr. Azhichakov discovered, that is no longer the case. Senogda’s once-pristine sands were buried under thick mats of reeking greenish-black goo. “This stuff stretched far into the distance, for several kilometers,” said Mr. Azhichakov, 61, a retired ecological engineer. “The beach was in terrible condition.” The muck, scientists have discovered, follows mass algal blooms at dozens of sites around Lake Baikal’s 1,240-mile perimeter. Confined to shallow water and

FROM THE MAGAZINE

BY YUDHIJIT BHATTACHARJEE

Arunachalam Muruganantham had seen the mysterious bloodstained rags before, left discreetly in a corner of his family’s thatched outdoor bathroom. As a teenager growing up in a village near Coimbatore in southern India, he found them unsettling and at times tried to avoid the bathroom, preferring the open fields instead. He finally deduced that the rags were left by his sisters, but what they used them for remained unclear until he noticed Shanthi, his wife, hiding one from him. He was in his mid-30s then, and newly married, when Shanthi explained that women menstruate, and that most of them — at least in the developing world — use rags to absorb the blood that accompanies the beginning of each menstrual cycle. Shanthi knew there were things called sanitary pads — or napkins, as they are sometimes referred to in India. She was aware that they were more hy-

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A once-in-a-lifetime opportunity to acquire one of the area’s largest estates. Stately European-style stone manor presides over more than 262 sylvan acres stretching across the New York-Connecticut border with stunning views over formal gardens and a picturesque lake. $75,000,000. Joseph Barbieri.

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TRUMP, PAGE 6 MEXICO ANXIOUS AFTER U.S. VOTE

RACHEL NUWER

Thick mats of reeking goo on a beach at Lake Baikal in Russia. Algal blooms caused by pollution, dams planned by Mongolia, and climate change are all causes for concern.

the Russian Academy of Science’s Limnological Institute in Irkutsk, 40 miles from Baikal’s southwestern shore. “Unfortunately, we’re now repeating the mistakes of so many other countries.” Dr. Timoshkin and his colleagues

have found that Spirogyra, a type of green algae that had rarely grown in Lake Baikal’s shallow zones, accounts for the outbreaks. In Severobaikalsk, Mr. Azhichakov’s LAKE BAIKAL, PAGE 2

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gienic and convenient, meant to be thrown away after each use. Why didn’t she just use pads, Muruganantham asked. “If your sisters and I start buying them,” Shanthi answered, “we will have to cut down the family’s food budget.” Muruganantham, a stocky man with a pencil-thin mustache, decided to buy Shanthi a pack of sanitary pads as a gift. At the pharmacy, the shopkeeper brought out the item, then wrapped it quickly to keep it hidden from the other customers. “He handed it to me as if it were a smuggled product,” Muruganantham, now 52, told me. The pack of eight cost him 20 rupees in 1998 — about 50 cents, or three days’ worth of groceries. At home, before he gave the present to his wife, Muruganantham tore open one of the pads. As a kid, he had always been driven by an extraordinary curiosity to find out how things worked; he would compulsively dismantle any new thing he could lay his hands on — toys, bicycles, radios. Muruganantham expected to see something interesting inside the pad, but the innards seemed to be noth-

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Coral Pavilion is a stunningly elegant, newly completed, coral stone villa located on the most enviable stretch of world-renowned Grace Bay Beach on Providenciales. 8,035 sf home with 6 BR. $10,250,000 US. Nina.Siegenthaler@sothebysrealty.com

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Serene and private location in Carefree. Commanding 360 degree views, this authentic Santa Fe custom home on over 3 acres offers a gated entry, 5 BR, 7.5 baths, 9 fireplaces and retractable walls of glass. $3,895,000. Frank Aazami.

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Timeless light and bright Georgian French architecture. Completely remodeled and upgraded in 2012 by GM Hunt and Architect Mark Candelaria Design. Additional 2015 enhancements by John Schultz. Close to Paradise Valley Country Club. $4,800,000. Frank Aazami.

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Elegant 8,000 sf oceanfront estate in Carlsbad with private access to the pristine beach and world-famous surf. This luxurious home features elevator service to all floors, gourmet kitchen, formal dining, living and great rooms and game room/theatre. $11,495,000. Eric Iantorno and Clinton Selfridge.

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This impressive estate draws inspiration from Pueblo style architecture infused with soft contemporary elements. 4 BR main home + guest casita, infinity edge pool/spa, cabana/outdoor kitchen, pizza oven, bocce, wine cave, views of Mayacama Golf Club. WEB: 0087236. $3,250,000. Sheri and Robert Morgensen.

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Casual elegance describes this one-of-a kind 2 BR, 3 bath canal front condominium at Ocean Reef. Featuring vaulted ceilings, new stone flooring, impact windows, and high quality finishes and furnishings. Complete with 32’ of dockage and oversized golf cart storage. $1,350,000. Cassy.Everhart@sothebysrealty.com

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Florida Keys private island 1,000’ from shore accommodations in the Ocean Reef community. Self-sufficient with water and electric in place from shore to 12 large bay front lots. Currently, featuring 1 main home, 2 caretaker’s cottages and 20-slip marina. $95,000,000. Russell.Post@sothebysrealty.com

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Tampa Bay’s premiere waterfront penthouse in downtown St. Petersburg. Endless views. 4,965 sf superior custom interior: chef’s kitchen, gallery, media room, office, high ceilings, finest millwork, 4 car parking, 1,000 sf of terraces. 30 minutes to Tampa Int’l Airport. WEB: U7765462. $4,100,000. Alona Dishy. AlonaDishy@gmail.com

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PADS, PAGE 4

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Approximately 140 acre ranch, 11,800 sf home with 6 BR, lake, beach, softball diamond, tennis court, gardens, pool and manager’s building. Approximately 15 minutes to Sonoma Plaza, 60 minutes to San Francisco. WEB: 0243305. Price upon request. Donald Van de Mark.

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Newer construction influenced by Tuscan country style villa, welcoming stone accented courtyard, and preserved antique doors are just few of the custom finishings throughout. Entertaining and open floor plan. Beach pool, spa and fire pits. Enjoys 4 car garage and RV parking. $2,150,000. Frank Aazami.

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Beautiful 10 lot subdivision in Alexander Valley. Located approx 15 minutes from Healdsburg and 1.5 hours from San Francisco. Each lot is approx 40 acres with spectacular views and vineyard. Gated entrance, ready to build. Only 5 lots remaining. WEB: 0087584. Price upon request. S. Morgensen and J. Wynne.

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Wine Country Estate on scenic Russian River wine road carries trademark of classic wine country living. Approx 16 acres, private lake, pinot vineyard, tasteful blend of European style architecture with an informal elegance. Minutes from the plaza. WEB: 0087976. $5,350,000. Sheri and Robert Morgensen.

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The romance of the old world lives at this waterfront residence devoted to the grandeur of Italian and French villa living. Completely bespoke and built as a labor of love, this timeless paradise has a pier, beach and endless views. $12,900,000. Bill Bullock and Lydia Sarkissian. b.bullock@deckerbullocksir.com

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Immerse yourself in dramatic 270 degree views of San Francisco and 3 landmark bridges from this contemporary gem. Featuring a circular glazed galleria, floating fireplace, multiple view side decks, floor-to-ceiling windows and cutting-edge technology throughout. $4,585,000. Bill Bullock and Lydia Sarkissian.

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The legacy of this equestrian wine country estate offers a refined lifestyle that has endured through generations. 3 BR, 2.5 baths, pool, spa, outdoor kitchen, lanai, greenhouse, workshop; 2 BR, 1 bath cottage; Victorian round barn, stalls and riding arena. WEB: 0087899. $2,875,000. Sheri Morgensen and Robert Morgensen.

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and affluent status. New York Times International

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Contemporary 2-story waterfront condo overlooking Tampa Bay. Located at 300 Beach Drive in downtown St. Pete. 2,975 sf plus 3 terraces (800 sf). World class custom design with open floor plan, high ceilings, gourmet kitchen and private entry. Premier amenities include large pool, gym and concierge service. WEB: U7752442. $2,110,000. AlonaDishy@gmail.com

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Glass Apple Farm is a stunning, 1,100+ acre North Georgia mountain estate. The beautiful home has epic proportions and modern conveniences. Expansive outdoor entertaining areas, guest cottage, 5+ acre stocked lake, 60’ waterfall, horse pastures and fruit orchards. $12,750,000. Kevin Grieco and Clay Henderson.

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Live at Sovereign in the heart of Atlanta’s Buckhead community and enjoy dramatic skyline views of Midtown and downtown Atlanta, Buckhead and Stone Mountain. Residents enjoy incredible amenities including valet, concierge, fitness center, restaurants and the private Buckhead Club. $3,800,000. Sam Bayne.

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Male / Female ratio: 76% Male / 24% Female Average household income: $367,700

Edition readers are people whose tastes tend toward the Median age: 55 deluxe, leading active and upscale lifestyles.

8 S TA M F OR D, C ON N E C T I C U T

shores near towns and villages, the problem seems to stem from an influx of untreated sewage — the result of inadequate wastewater treatment. Algal blooms threaten iconic freshwater bodies around the world, including the Great Lakes, Lake Geneva, and Lake Biwa in Japan. But Lake Baikal is especially precious: a World Heritage site that is home to more than 3,700 species, more than half found nowhere else. “People are dumping sewage, waste and rubbish around the lake, creating pretty appalling conditions in some places,” said Anson MacKay, an environmental scientist at University College London. Runoff from fertilizers and other pollutants leads to so-called eutrophication, an excessive growth of algae. These blooms eventually deplete the water of oxygen, suffocating aquatic plants and animals. Russian scientists had assumed that Lake Baikal is simply too vast to suffer such a fate, but recent growth in tourism and development seem to be changing the calculus. “We have a saying in Russia: A clever person is trained on the mistakes of others,” said Oleg Timoshkin, a biologist at

for opinion leaders and business decision makers

L O S A LTO S H I L L S , C A L I F OR N IA S A N DI E G O, C A L I F OR N IA

Private, resort-like estate in one of Silicon Valley’s exclusive residential communities. The 20,000 sf home on 8+ acres is designed for entertaining. Indoor pool and vineyard. Easy access to airports make the home a perfect West Coast hub. $88,000,000. Michael Dreyfus.

RUTH FREMSON/THE NEW YORK TIMES

Donald Trump Jr., right, and Eric Trump, center, at Trump Tower in New York. Plans are for them, and sister Ivanka Trump, to run their father’s business while he is in the White House.

Just a few blocks down Pennsylvania Avenue from the White House sits the Trump International Hotel, one of the newest luxury additions to Presidentelect Donald J. Trump’s real estate empire, and perhaps the most visible symbol of the ethical quandary he now confronts. The Trump International is in the Old Post Office Building, which is owned by the federal government. That means Mr. Trump will be appointing the head of the General Services Administration, which manages the property, while his children will be running a hotel that has tens of millions of dollars in ties with the agency. He also will oversee the National Labor Relations Board while it decides union disputes involving any of his hotels. A week before the election, the board ruled against one of Mr. Trump’s hotels in a case in Las Vegas. The layers of potential conflicts he faces are in many ways as complex as his far-flung business empire, adding a heightened degree of difficulty for Mr. Trump — one of the wealthiest men to ever occupy the White House — in separating his official duties from his private business affairs. Further complicating matters are Mr. Trump’s decision to name his children to his transition team, and what is likely to be their informal advisory role in his administration. His daughter Ivanka Trump joined an official transition meeting on Thursday, the day before Gov. Chris Christie of New Jersey was removed from his post leading the effort. Mr. Trump has said he will eliminate ethical concerns by turning the management of his company over to his children, an arrangement he has referred to as a blind trust. But ethics lawyers — both Republicans and Democrats — say it is far from blind because he would

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guards on duty outside the Excelsior Hotel Gallia here, where the United States consulate general is hosting a postelection breakfast. “Hardly a good morning,” I reply. Inside, the phantasm of Donald J. Trump, with its egg-custard bangs, weaves its way through the palpable embarrassment emanating from the assorted guests. I accepted the invitation after a sleepless night because I wanted to show my friendship to the United States and its citizens. They’re looking forward to at least four years of being governed by a president who looks to be unsuitable, possibly embarrassing, and certainly, to say the least, unpredictable. At times like Americans this, you really still want to need your friends, right? give their While I connew leader sider myself a the benefit friend of Amerof the doubt. ica, there are more than a few Italians now friends of Mr. know better. Trump in Italy, many of them newfound. No other country in the European Union, according to the Pew Research Center, is so passionate about Mr. Trump, and the last week has seen an outpouring of affection for the incoming American leader. Is that really surprising? The plaudits in the news media, and on social media, betray a disagreeable longing for authoritarianism, a Mussolini-style nostalgia for a macho leader who’s always right, and a yearning for the (verbal) stick to be taken to anyone who dares criticize the boss. In other words, Berlusconism is alive and well in Italy, even when it means looking abroad for a strongman. On one level, I can’t help but feel like turnabout is fair play. During the Berlusconi years, Italy was Europe’s laughingstock, and the Americans, among others, took us to task with comments that ranged from patronizing to outraged. Now it’s our turn. The United States and others explained to us that they’d never ever elect a man who treated women like sex toys. A 70-year-old who worried more about his hair than about world issues. A politician who confused his private business with affairs of state. A person who treated the truth as optional. And let’s be honest: Next to Mr. Trump, our former prime minister, Mr. Berlusconi, looks like Winston Churchill. At least he didn’t insult his neighbors, mock foreign powers, snub NATO SEVERGNINI, PAGE 17

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Majest AD condo ic view IS E IS L AN 1,100 on the s of the Atla room. sf, 1 BR, ocean side ntic Oce D, BA an WEB: Resort 2 full bath of the Reef from this HA M 21842. amenit s tow 18t ies, and

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how to navigate the world of wealth management, how

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high-end buyers. With a quarterly distribution of over

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National print circulation:â&#x20AC;&#x201A; 307,702 Average household net worth, print subscribers:â&#x20AC;&#x201A; $4,416,000

highly-targeted platform from which to reach an Asian

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November 2016

Volume 25 / Issue 5

The ETF Matrix

Misadventures in Africa

It’s a Family Thing

The Bond Benchmark

Distilling the world’s hottest investment vehicle into a single chart p 64

Bob Diamond says his sub-Saharan second act isn’t five-minute rice p 88

As hedge funds reel, family offices are quietly attracting talent p 94

Optimize your portfolio with the new Bloomberg Barclays Indices p 28

B LOOMB ERG M A R K E T S

Bloomberg Markets Bloomberg Markets is the highly-read magazine of the “Global Financial Elite,” serving 96% of Bloomberg Terminal subscribers including banks, brokerages, hedge funds, government agencies and other arms The Journal of Global Finance

of the financial industry. Readers are ultra-affluent

Ocean Home Magazine Published bi-monthly, Ocean Home puts the luxurious lifestyle of oceanfront living into the palms of their

and influential; they take the lead in decision-making and are among the first to buy new products or AT THIS MOMENT

TIME STOOD STILL MALLORCA, SPAIN 08:00 HOURS

luxury lifestyle driven by

Caribbean to private beachfront estates in Malibu, Miami Florida; Newport, Rhode Island; Nantucket,

are professional global citizens who live the ultimate

readers’ hands. From high-end developments in the California; Palm Beach, Fort Lauderdale, and

services. Market readers

their discerning tastes and Distribution: 80,000

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Property ID: 4KX7KS sothebysrealty.com

© MMXVI Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks licensed to Sotheby’s International Realty Affiliates LLC.

exclusive experiences.

Readership: 216,000

Our cooperative advertisement is an impactful, two page - full color insert reaching over 75,000 international

homes of the world’s wealthiest real estate investors,

Geographic breakdown: United States coastal areas, Canada, Caribbean

but also the best travel destinations, the top designs for

Average age: 51

Circulation: 75,488

ocean homes, and interviews the key players in the next

Male / Female ratio: 49% / 51%

Massachusetts; Coastal Maine and everyplace in between, Ocean Home not only unveils the dream

International Realty exclusive cooperative advertising ®

insertion will run in an engaging gatefold advertising

Average household income: $2.9 million Net Worth: $9.6 million

unit, in conjunction with the “On the Market” section,

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which runs in the first quarter of the magazine.

Number of properties per page: 12

VOLUM E 25 / IS SUE 5

generation of luxury oceanfront living. The Sotheby’s

hedge fund and finance professionals.

Geographic distribution: Global Male / Female ratio: 78% / 22%

Beyond Flash Boys IEX’s Brad Katsuyama on his exchange finally crossing the starting line p 72

Average household income: $408,426 Median age: 45 Number of properties per page:: 12

cover_05-dom_clean.indd 1

10/6/16 5:06 P

Boston Magazine For more than 40 years, Boston Magazine’s experienced writers, editors and designers have captured all sides of the city with awardSOTHEBYSREALTY.COM

b O S TON , M AS S Ac H u SE T T S

MIDDLETON, MASSAcHuSET T S

Spanning 40’ overlooking Charles River is a second floor Triplex! Interior designer Bunny Williams collaborated to create this 3 BR plus office with high ceilings and large private deck. 4 garage tandem parking. $9,995,000. Beth Dickerson.

Be the first to live in this spectacular 25th floor corner residence at the new luxurious Millennium Tower. Sunrise and sunset views from floor to ceiling windows. 24/7 concierge, doorman, private gym, 75’ lap pool, one valet garage space and more. $2,225,000. Daria McLean.

Impeccably designed home on 4 acres at the end of a cul-de-sac. 5 BR, 5.1 baths, 7,662 sf. Double bridal staircase. Chef’s kitchen. First floor master suite. Sun room. Radiant heat throughout. Expansive patio, outdoor fireplace, sport court. $2,500,000. Anthony Bruno.

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MIDDLETON, MASSAcHuSET T S WEST WO OD, MASSAcHuSET T S P ORT L A N D, M A I N E

Custom-built villa located in Smith Crossing, one of the most desirable neighborhoods on Boston’s North Shore. 5 BR, 5.2 baths, 3 fireplaces, 8,600 sf. Set on over 2 acres. French doors, coffered ceilings, library, exercise room. $1,990,000. Anthony Bruno.

314 Grove Street. Completely renovated sun-drenched home with 5 BR, 3 full and 2 half baths, 5 fireplaces and over 2.5 acres of land. 5 minutes off highway. $2,399,900. Tammy DeWolfe.

Meticulously renovated Victorian Farmhouse on the highly sought-after Eastern Prom sits proudly on a corner lot adorned with English gardens, stone walls, brick walkways, and sweeping views of Casco Bay. $1,695,000. Linda MacDonald.

Gibson Sotheby’s International Realty +1 781.710.4544 | gibsonsothebysrealty.com

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Legacy Properties Sotheby’s International Realty +1 207.749.1215 | beautifulMaineHome.com

YA R M O u T H , M A I N E

T I V E RTON , R H ODE I SL A N D HA R b Ou R I SL A N D, bA HA M AS

Exquisite Maine estate commanding the point of a 16-acre Peninsula in exclusive Littlejohn Shores. Masterfully constructed with the finest materials including 6 fireplaces and 2 master suites. Dock access. $3,885,000. Linda MacDonald.

“Joie de Vivre” Stunning custom contemporary on almost 4 acres near Tiverton Four Corners in Fogland Beach neighborhood. Designer builder, passive solar orientation, gourmet kitchen, and floor-to-ceiling windows overlooking gardens. $949,000.

Legacy Properties Sotheby’s International Realty +1 207.749.1215 | beautifulMaineHome.com

Gustave White Sotheby’s International Realty +1 401.849.3000 | gustavewhite.com

NAS S Au, bA HA M AS

Cable Beach. Superb ocean views, beachfront 3 BR, 3.5 bath, 2,373 sf condo on Cable Beach. Zero-entry pool, fitness center, tennis courts and onsite management. Gated community on 405’ of white sand beach. WEB: EMVE4H. $1,580,000 US. Samira.Coleby@sir.com

Damianos Sotheby’s International Realty +1 242.376.6248 | SIRbahamas.com

K E Y L A RG O, F L OR I DA

Gorgeous 3 BR, 4 bath home with office located in Ocean Reef with beautiful lake front views. Open floor plan features soaring ceilings, impact windows, outside kitchen, and patios for enjoying panoramic sunsets. $3,099,000. Marcy.Altman@sothebysrealty.com

Russell Post Sotheby’s International Realty +1 305.367.3131 | RussellPostSIR.com

Hilltop Estates home nestled amongst lush foliage with panoramic views of the ocean and harbour. This 3 BR house plus 1 BR guest cottage sits on a 1/2 acre lot. Pool. Short walk to the beach. WEB: 9BFNBH. $4,250,000 US. James.Malcolm@SIR.com

Damianos Sotheby’s International Realty +1 242.376.9858 | SIRbahamas.com

K E Y L A RG O, F L OR I DA

Beautiful canal front condominium at Ocean Reef offering 3 BR, 3 baths, updated kitchen, wood floors, and gorgeous vistas and ocean breezes from the extended living area. Complete with 29’ deep water dockage. $2,290,000. Russell.Post@sothebysrealty.com

Russell Post Sotheby’s International Realty +1 305.367.2027 | RussellPostSIR.com

© MMXVI Sotheby’s International Realty Affiliates LLC. a Realogy Company. All Rights Reserved. Landscape at Le Pouldu, used with permission. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office is Independently Owned and Operated.

Robb Report Robb Report is the global voice in luxury. Widely regarded as the single most influential journal of living life to the fullest, Robb Report covers

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Monthly circulation: 92,854

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Average net worth: $1,200,000

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Number of properties per page: 12

Home owners: 88% Number of properties per page: 12 14

06.11.2016

P R O P E RT Y SUPPLEMENT OF THE YEAR

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T I P P E R A RY, I R E L A N D

Delightful lake front late Georgian country home on the periphery of Puckane village. Well presented with 3,670 sf or 350 sq m of accommodation within the house and including a private lake. Offered on some 17.5 acres or 7.5 ha. €1,250,000. David Ashmore. david.ashmore@sothebysrealty.ie

Ireland Sotheby’s International Realty +353 (0)1 905.9790 | sothebysrealty.com

LY F OR D C AY, BA HA M AS

Newly built, British Colonial style 6,800 sf 5 BR, 5.5 bath home offers expansive golf course views. Dramatic great room with 18’ vaulted ceiling. Furnished by renowned designer Amanda Lindroth. Life is less taxing offshore. MLS: 77941. $5,650,000 US. Nick.Damianos@SothebysRealty.com

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N E W YOR K , N E W YOR K

Breathtaking views in all directions from this pristine 2 BR, 2 bath apartment. Enjoy the finest Central Park and City Skyline views, all the way to the George Washington Bridge. WEB: 00110800. $7,500,000. Robin L. Rothman. robin.rothman@sothebyshomes.com

Sotheby’s International Realty East Side Manhattan Brokerage +1 212.606.7751 | sothebyshomes.com/nyc

K I L DA R E , I R E L A N D

An elegant Victorian style house comprising some 5,705 sf or 540 sq m of accommodation and pleasantly positioned within the quaint village of Kilkea. Generous grounds of 1.77 acres or 0.7 ha. Built c 2006 to a high specification. €950,000. David Ashmore. david.ashmore@sothebysrealty.ie

Ireland Sotheby’s International Realty +353 (0)1 905.9790 | sothebysrealty.com

B E T H E SDA , M A RY L A N D

Perhaps the finest example of architecture, setting and workmanship in the DC area, this extraordinary masterpiece represents the combined talents of award winning architect Glenn Fong and nationally recognized interior designer Barry Dixon. $18,000,000. Marc Fleisher.

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N E W YOR K , N E W YOR K

Enjoy fabulous panoramic views from this 3 BR, 3 bath Condo, surrounded by historic landmarked buildings and an expansive layout that provides a seamless flow for comfortable entertaining. WEB: 00111130. $3,850,000. Leslie S. Modell. leslies.modell@sothebyshomes.com

Sotheby’s International Realty East Side Manhattan Brokerage +1 212.606.7668 | sothebyshomes.com/nyc

© MMXVI Sotheby’s International Realty Affiliates LLC. a Realogy Company. All Rights Reserved. Old Elm at Medfield, used with permission. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office is Independently Owned and Operated.

Circulation: 772,614

WILDE IN THE

COUNTRY

Geographic distribution: United Kingdom Readership: 2,055,000

Poldark’s Male / Female ratio: 55% / 45%Gabriella

Wilde on why settling down in Somerset has put her on a career fast track p14

Read by U.K. business elite: 54%

age: T H E T R U M P B UAverage MP W H Y49 T H E H O U S I N G M A R K E T W O N ’ T R E C O V E R U N T Number I L 2 0 1of8properties C A B I NperPpage: O R N6 :or T9 H E £ 1 4 0 , 0 0 0 S H A C K THE BEST RUGS AND GUEST BEDS BRING ON THE CACTI

CLARE KEOGH

Now an established and widely-read section in

S O T H E B Y S R E A L T Y. C O M

14.08.2016 SECTION 4

WS W NE VIE E RE INSID

HOME SECTION 6

informed decisions on available services and products. Circulation: 77,395

WELL ABOVE PAR Geographic distribution: Republic of Ireland Readership: 359,000

Male/ ratio: of 50% / 50% nine-hole course Golfers and gardeners alike will relishFemale the challenge Lisselan’s and magnificent grounds, while the 10-bedroom mansion with its imposing corner AverageCo age: 50masterpiece, writes Linda Daly tower offers scope to create a modern Cork

espite being inhisnineties, with failing health, Charles Orr Stanley would dress for dinner each evening at Lisselan Estate, in Clonakilty, in Co Cork. It was the 1980s, and the entrepreneur, who had lived in the French château-style house for six decades, would don a velvet cravat, suit and cufflinks before his meal. If he was going to dine in a 10-bedroom mansion, he felt he should dress for the occasion. Stanley died in 1989, but it’s a memory that stays with Lisselan’s

to the house’s proportions. However, it Number of properties per page: won’t 6take ormuch 9 imagination to spot

teur golfing competitions. The entire Lisselan estate came on the market in 2014, at €9m. Late last year, the Blackburns took the property off the market, but have put it back on with David Ashmore, of Sotheby’s International Realty. They are asking €4.5m for the house on 200 acres, though up to 315 acres are available, which include farmland and the ruins of carmaker Henry Ford’s ancestral home. The main house, which was built in about 1852, was commissioned by William Bence-Jones, a solicitor and landowner. The imposing structure is

the potential. The basement level of the property has a large games room with an outsized curved sash window. New owners could create a modern kitchen/ lounge here by knocking down lowerfloor bedrooms to fashion an open-plan space with a terrace to the side garden. “French doors opening to the garden would be beautiful,” says Lane. One part of the property that needs no work — except maintenance — is the gardens. Filled with manicured lawns, flower beds, pathways, woodland

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OL D F ORT bAY, bA HA M AS

SENNEVILLE, QuÉbEc, cANADA

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Designed to take advantage of the beach and sea views at every opportunity. With 5 BR and 6 baths plus a media room all situated on an acre lot offering 150’ of sandy beachfront. WEB: 79301. $12,900,000 US. Mark.Hussey@SIR.com & Samira.Coleby@SIR.com

This magnificent 7.6 acre waterfront estate overlooks the lake of Two Mountains. Offering tennis court, pool, English gardens, log cabin, deep water harbor, guest and nanny’s quarters plus amazing sunsets. Possibility of subdividing. $4,995,000 CAD. Cassandra Aurora.

Truly magnificent, this 6 BR Mediterranean estate offers fine finishes, superb craftsmanship framed by Mummy Mountain views. Master suite enjoys sitting room, dressing area and custom closets. Grecian pool/spa, tiered patios and fountains. $3,500,000. Frank Aazami.

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | RidgeviewResidence.com

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | ScottsdaleExclusive.com

Majestically behind Canyon Heights Gates, extremely secured, high above the rest, just under 5 acres, overlooking city lights, close-up and distant mountain views. Contemporary construction, open floor plan and detached 1 BR guest home. $4,500,000. Frank Aazami.

FORT L AuDERDALE, FLORIDA

NANTucKET, MASSAcHuSET TS

cOLD SPRING HARbOR, NEW YORK

cHARLOT TESVILLE, VIRGINIA

FORT L AuDERDALE, FLORIDA

NANTucKET, MASSAcHuSET TS

cOLD SPRING HARbOR, NEW YORK

cHARLOT TESVILLE, VIRGINIA

Old Fort bay Sotheby’s International Realty +1 242.424.9193 / 242.376.6248 | SIRbahamas.com

Estate on Las Olas Isles. Elegant Mediterranean Estate, 1 lot from point; 184’ dock. Recently renovated. 6 BR, 7.5 baths; Guest house w/ separate entry. Stunning master suite upstairs boasts amazing view from balcony. Heated pool. $7,150,000. Albert Niels. albert.niels@sothebysrealty.com

ONE Sotheby’s International Realty +1 954.918.9975 | estatelasolas.com

OL D F ORT bAY, bA HA M AS

Troutopia which is situated in the exclusive gated community of Old Fort Bay on Charlotte Island is an exquisite canal front property boasting 200’ of prime canal frontage with 164’ of dock space for large boats. WEB: 27414. $6,950,000 uS. Mark.Hussey@SIR.com

Old Fort bay Sotheby’s International Realty +1 242.424.9193 | SIRbahamas.com

PAR ADISE VALLEY, ARIZONA

The Ultimate Salcito custom home. This spectacular hillside property is located within the highly sought after guard gated community of La Place Du Sommet. Built in office, library, media room, exercise room, gourmet kitchen and 4 car garage. $3,000,000. Frank Aazami.

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | LaPlaceDuSommetViews.com

Sotheby’s International Realty Québec +1 514.293.2277 | sothebysrealty.ca

Entirely unique waterfront compound with 300 degree views on 7 acres. Private stairs to beach. 11 BR, pool, tennis, garage, entertainment pavilion with commercial kitchen, 3500 bottle wine cellar/tasting room. $32,750,000. Gary Winn, Craig Hawkins and Bernadette Meyer.

Maury People Sotheby’s International Realty +1 508.228.1881 | maurypeople.com

c HA N DL E R , A R I Z ONA

2 lots - 3.5 acres. Stately Mediterranean style home situated in lush, prestigious, private lake community. 6 BR, 7.5 baths in a 7,200+ sf floor plan. Private balconies offer inspiring views. Guest house, lush lawns, rose gardens, Koi ponds, waterfall and diving pool. $2,345,000. Frank Aazami.

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | OakwoodHillsResidence.com

S c OT T SDA L E , A R I Z ONA

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | ScottsdaleExclusive.com

"Belvedere." Built on a bluff for the summer breezes, spectacular sunsets & Sound views. The home offers 9 BR, 8.5 baths. A separate 2 BR caretaker's cottage is above a 3-car garage. Masterpiece listing. SD #2. MLS: 2805521. $5,700,000. Kathryn (Cottie) Maxwell Pournaras.

Daniel Gale Sotheby’s International Realty +1 516.857.3011 | danielgale.com

FOuNTAIN HILLS, ARIZONA

Interior Designer's personal residence, built on a choice (view) lot; extensively upgraded, customized and well-maintained by the original owners. Quality built-ins, elevator, home generator. Simply extraordinary. Easy to preview, by appointment only. $2,500,000. Frank Aazami.

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | FirerockResidence.com

NANTucKET, MASSAcHuSET TS

Entirely unique waterfront compound with 300 degree views on 7 acres. Private stairs to beach. 11 BR, pool, tennis, garage, entertainment pavilion with commercial kitchen, 3,500 bottle wine cellar/tasting room. $32,750,000. Gary Winn, Craig Hawkins and Bernadette Meyer.

Maury People Sotheby’s International Realty +1 508.228.1881 | maurypeople.com

Perfectly located, near Keswick Hall, this fully furnished, turn-key home flows effortlessly from one room to the next with high, beamed and coffered ceilings, gorgeous fireplaces. Wonderful outdoor spaces. $4,395,000. info@frankhardy.com

Frank Hardy Sotheby’s International Realty +1 434.296.0134 | frankhardy.com

PAR ADISE VALLEY, ARIZONA

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | RidgeviewResidence.com

LOuISA c OuNT Y, VIRGINIA

The Gardner Farm: Proximity to several international airports and Mid-Atlantic cities. A retreat of 1,563 acres with all the privacy & bucolic tranquility rural Virginia can offer. Over 3.8 miles of pvt river frontage, 30-acre lake. $7,500,000. Murdoch Matheson. mmatheson@frankhardy.com

Frank Hardy Sotheby’s International Realty +1 434.981.7439 | frankhardy.com

© MMXVI Sotheby’s International Realty Affiliates LLC. a Realogy Company. All Rights Reserved. Barges, used with permission. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office is Independently Owned and Operated.

Old Fort bay Sotheby’s International Realty +1 242.424.9193 / 242.376.6248 | SIRbahamas.com

ONE Sotheby’s International Realty +1 954.918.9975 | estatelasolas.com

OL D F ORT bAY, bA HA M AS

Old Fort bay Sotheby’s International Realty +1 242.424.9193 | SIRbahamas.com

PAR ADISE VALLEY, ARIZONA

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | LaPlaceDuSommetViews.com

Sotheby’s International Realty Québec +1 514.293.2277 | sothebysrealty.ca

Maury People Sotheby’s International Realty +1 508.228.1881 | maurypeople.com

c HA N DL E R , A R I Z ONA

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | OakwoodHillsResidence.com

S c OT T SDA L E , A R I Z ONA

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | ScottsdaleExclusive.com

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | RidgeviewResidence.com

Daniel Gale Sotheby’s International Realty +1 516.857.3011 | danielgale.com

FOuNTAIN HILLS, ARIZONA

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | FirerockResidence.com

NANTucKET, MASSAcHuSET TS

Maury People Sotheby’s International Realty +1 508.228.1881 | maurypeople.com

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | ScottsdaleExclusive.com

Frank Hardy Sotheby’s International Realty +1 434.296.0134 | frankhardy.com

PAR ADISE VALLEY, ARIZONA

Russ Lyon Sotheby’s International Realty +1 480.266.0240 | RidgeviewResidence.com

LOuISA c OuNT Y, VIRGINIA

and the highest level of clubs and luxury resorts. With direct access to members and an accompanying online presence,

Frank Hardy Sotheby’s International Realty +1 434.981.7439 | frankhardy.com

Kingdom provides

advertisers and marketing partners with a unique opportunity to reach America’s wealthiest and most powerful demographic - and in an authentic, enduring and luxurious manner.

The PGA Tour’s Tournament Players Club (TPC) Network comprises 35 of the greatest tournament venues in America, including such storied clubs as TPC Sawgrass and TPC Scottsdale. While the idea of pitching at Yankee Stadium or serving on Wimbledon’s Centre Court are far-fetched dreams for baseball and tennis fans, golf fans can literally walk in the footsteps of their heroes at TPC venues, courtesy of the PGA Tour. Celebrating this fact and befitting the network’s elite status, TPC private members, playing guests and visitors

Circulation: 265,000 Kingdom & TPC Signature combined

now receive TPC Signature, a special edition of Kingdom

Median age: 44

selected by the PGA TOUR as its publication of choice. TPC Signature has the same production standards and luxury golf lifestyle content as Kingdom, but it also

Male/Female ratio: 80/20 Average Club Joining fee: $41,000+

comes with a TPC-specific front cover and 16 pages of

Median household Asset Value: $2,053,400

original TPC-dedicated editorial.

Number of properties per page: 16

VOLUME 06 EDITION 02 2016

SOTHEBYSREALTY.COM

SE v E R NA PA R K , M A RY L A N D B O STON , M AS S AC H U SE T T S

Incredible waterfront estate on the Severn River constructed w/ the finest materials. Main house plus guest suite with 13,300 interior sf, pool, dock and amazing entertaining space. Stunning views from every angle. $6,950,000. Jonathan Taylor. jtaylor@ttrsir.com

TTR Sotheby’s International Realty +1 202.333.1212 | ttrsir.com

Stunning home at the Four Season’s residences. Unit features an open floor plan ideal for entertaining. Spacious and sunny, this corner 2 BR, 2 bath has been renovated with luxurious finishes. $3,295,000. Michael L. Carucci.

Gibson Sotheby’s International Realty +1 617.901.7600 | gibsonsothebysrealty.com

MIDDLETON, MASSACHUSET T S DE E R L OD G E , M ON TA NA

Custom-built villa constructed in 2007. This one of a kind home is located in Smith Crossing, one of the most desirable neighborhoods on Boston’s North Shore. 5 BR, 5.2 baths and 3 fireplaces set on over 2 acres. $1,990,000. Anthony Bruno.

Gibson Sotheby’s International Realty +1 781.710.4544 | gibsonsothebysrealty.com

L A K E TA H OE , N E vA DA

Zephyr Cove 378’ sandy beach, pier, hoist, 2 buoys on 31 acres. Custom 16,703 sf home with 8 en-suite BR, theater, gym. Guest home & caretakers home, 15 stall heated stables with paddocks & lakeside meadow. Price upon request. Lexi Cerretti & Dan Spano.

Sierra Sotheby’s International Realty +1 775.833.1646 | SierraSunsetTahoe.com

N E W YOR K , N E W YOR K

3 BR apt in pre-war co-op on a significant townhouse block just off Park Ave & close to Central Park. All major rooms of the 8-room apt face south. WEB: 00110352. $3,395,000. Mary C. Kent.

Sotheby’s International Realty East Side Manhattan Brokerage +1 212.606.7705 | sothebyshomes.com/nyc

7,100 sf, lodge offers 5 BR and 7 baths. Highest quality artisan craftsmanship throughout, amazing golf and mountain views. Located in the exclusive/private Rock Creek Cattle Company. $3,900,000. Dawn Maddux.

Glacier Sotheby’s International Realty +1 406.550.4131 | glaciersir.com

N E W YOR K , N E W YOR K

Located off Park Avenue, this 22’ wide neo-Georgian townhouse features 9,000± sf, 6+ BR, 6 fplcs, rooftop terrace & brick walled trellised garden. WEB: 00110605. $22,000,000. Louise C. Beit.

Sotheby’s International Realty East Side Manhattan Brokerage +1 212.606.7703 | sothebyshomes.com/nyc

LEXINGTON, MASSACHUSET T S

Opportunity to acquire this private 10,000 sf estate resting within a cul-de-sac in Lexington’s top neighborhood. This 6 BR, 5 full baths, 3 half baths, 4 fireplace oasis sits on 1.5 acres of mature grounds. $3,900,000. Michael L. Carucci.

Gibson Sotheby’s International Realty +1 617.901.7600 | gibsonsothebysrealty.com

F L AT H E A D L A K E , M ON TA NA

Montana’s Shelter Island Estate rests on 22+ private island acres in the middle of Flathead Lake. This 5 BR, 8 bath estate is a comfortable 22,000 sf with over 4,800’ of private, secluded lakefront access. $39,000,000. Dawn Maddux.

Glacier Sotheby’s International Realty +1 406.550.4131 | glaciersir.com

N E W YOR K , N E W YOR K

Superbly located on Fifth Avenue’s Gold Coast at 67th St, this 5 BR apt has 41’ on Central Park with views of the park and midtown Manhattan. WEB: 00110746. $10,950,000. Louise C. Beit.

Sotheby’s International Realty East Side Manhattan Brokerage +1 212.606.7703 | sothebyshomes.com/nyc

ORC AS I SL A N D, WASH I NG TON SAN JUAN ISL AND, WASHINGTON

Madroneagle Estate. Enviable southwest exposure land portfolio of 42.86 acres and half mile of East Sound waterfront. 7,303 sf main estate, workshop plus a 2,948 sf guest house. Mooring buoy. Madroneagle.com. $11,988,000. Michael Ford.

Realogics Sotheby’s International Realty +1 206.448.5752 | RSIR.com

Friday Harbor Estate. Unparalleled land portfolio of 38.72 fenced acres in a sheltered bay with 100+ ft deep water yacht slip. 11,686 sf main residence of unparalleled quality & self-sustaining. FridayHarborEstate.com. $16,800,000. Michael Ford.

Realogics Sotheby’s International Realty +1 206.448.5752 | RSIR.com

© MMXVI Sotheby’s International Realty Affiliates LLC. a Realogy Company. All Rights Reserved. Regatta at Argenteuil, used with permission. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office is Independently Owned and Operated.

Nonstop by Gulfstream The circulation of Nonstop represents the premier demographic of any magazine – leaders of the world’s top companies and wealthy individuals whose net worth typically ranges from $250 million to $10 billion plus. The most compelling aspect of advertising in Nonstop

Global circulation: 49,250

is undeniably the audience. Nonstop is delivered to

Circulation includes: Ultra high-Net-Worth Individuals

the most affluent and private mailing list in the world, along with distributing each issue to the top Fixed Base Operators (FBOs,) worldwide events and other venues that attract the ultra-high-net-worth audience advertisers seek. The 49,250-printed circulation covers 151 countries including Brazil, Russia, India, China and the Middle East, reflecting the changing world economy and the emergence of a powerful new class of millionaires

WINGED WONDERS

·· Forbes Billionaires ·· Forbes 400 Richest Americans ·· 150 Rich Lists C-Level Executives at Top Companies Worldwide ·· ·· ·· ··

Fortune 500/Fortune 1,000 Global 1,000 Forbes 2,000 S&P 500

Average age: 50+

and billionaires. An added value includes a Chinese

Male/Female: 70/30

language version.

Number of properties per page:: 12 21

THE BEST-IN-CLASS G280

DIVERSIONS SHANGHAI

Sotheby’s Magazine | Art & Home This stunning large-format magazine enriches readers with sophisticated content related to the the worlds of art, luxury lifestyle and real estate. Sotheby’s Magazine | Art & Home includes editorial features that showcase Sotheby’s International Realty® properties and also includes a property gallery providing advertising opportunities. This magazine publishes with two covers: auction clients receive NO VE M BE

this content with the Sotheby’s Magazine cover, while Sotheby’s International Realty affiliates receive copies with

R 20 16

the Art & Home cover for distribution in offices. Distribution: 40,000 Minimum ··

Direct mail to high-value auction clients who transact in art, jewels, watches, wine and automobiles LO RD & LA DY AT TE NB

··

Distribution at high-profile auction events in New York, London, Paris, Los Angeles, Hong Kong and beyond

OR OU GH

··

Distribution to all 70 Sotheby’s auction house offices

’S PI CA SS OS

internationally Distribution to all Sotheby's International Realty offices

| BOW IE

··

/C OL

internationally

LE CT OR | TH E CE LE BR

Number of properties per page: 1, 2 or 4

AT ED JA EG ER

2-4 page advertorials available

-L EC OU LT RE RE VE RS O WAT CH

ARTIST, IC

ON, COLL

ECTOR

DAVID B

RESIDE

INSIDE CHATSWORTH HOUSE TOP COLLECTORS SHARE THEIR STORIES HAMILTON ON BROADWAY AND AT AUCTION

Sotheby’s Preferred Sotheby’s Preferred is an enhanced edition of Sotheby’s Magazine | Art & Home, reserved for the highestspending, global clients of Sotheby’s. Each issue includes

A literary experience for the life enthusiast

The Power Of Extraordinary Print

Introducing the reimagined memorable print

RESIDE® invites provocative opinions and intelligent

publication that brings to life a rich, informed and

conversations on topics that matter most to its affluent

inspiring brand.

targeted audience.

Distribution: 12,000

Sotheby’s International Realty® associates know that

Through a roster of connoisseurs, RESIDE® provides

··

Direct mail to premier auction clients who transact

where someone chooses to own a home is also where

insight with in-depth articles featuring everything from

in all categories

they plan to experience life. It is where they pursue

the latest travel destinations to outstanding lifestyle and

inspiration and connect with their passions. It is where

design trends.

editorial features from Sotheby’s Magazine | Art & Home, and also showcases the most valuable art, jewels and collectibles being sold on the international auction market. It also includes a gallery of exclusive Sotheby’s International Realty® properties.

··

Direct mail to premier RM Sotheby’s clients (classic car collectors)

STILL MAKING A SPLASH

DAVID HOCKNEY ··

Each issue of RESIDE® features an exclusive gallery of As the signature publication of the - world–renowned

internationally

Sotheby’s International Realty brand, RESIDE magazine

2-4 page advertorials available

they reside.

Distribution to all 70 Sotheby’s auction house offices

Number of properties per page: 1, 2 or 4

DECEMBER 2016–JANUARY 2017

RESIDE®

speaks to the life enthusiast and celebrates the fusion of home, art and living.

Sotheby’s International Realty properties. Advertising Rates: Quarter Page: $570 Half Page: $945 Full Page: $1,695 For more information or space reservations contact reside@sothebysrealty.com

Digital Property Advertising Program The Digital Property Advertising Program allows brokers and agents to place advertising and upgrade properties on high profile websites at discounted rates. Engage consumers around the globe or in your own marketplace through effective geo-targeted impressions. In addition, utilize the turn-key banner development program to create custom advertisements that incorporate the Sothebyâ&#x20AC;&#x2122;s International RealtyÂŽ brand templates. 26

Impressions Program Garanteed Click Throughs

New Media

Three months minimum purchase. 路路 One time Banner generation fee (21 banners are needed for this program) $300 路路 All banners click-through to the website of your choice. 1 Million Impressions Prime Websites | Guaranteed Click-Throughs | Very Low CPM 1,000,000 Impressions 500,000 Impressions 250,000 Impressions

$1,999 per month $1,250 per month $875 per month

1,000 Guaranteed Click-Throughs 500 Guaranteed Click-Throughs 250 Guaranteed Click-Throughs

Lifestyle Media

Real Estate Portal

The Wall Street Journal Online Great Homes and Destinations

Featured Property Upgrades WSJ.com featured property upgrades are an inexpensive tool to get your properties placed at the top of WSJ.com search results pages in up to three cities or towns of your

Display banner ad in the real estate property search

choice. Each property upgrade appears for one month.

section of NYTimes.com (300x250 banner above

The property you wish to feature comes directly from

the fold).

your brand’s WSJ.com feed and click-throughs go to

$575usd per 100,000 impressions per month in ANY

the website of your choice. Multiple properties can be

chosen market, region, or state (three month minimum

featured and WSJ.com will rotate featured properties

purchase).

to appear equally. The window to redeem property upgrades is valid for one year after purchase. 10 properties: $1,110 25 properties: $1,950 100 properties: $5,265

PropGOLuxury.com PropGOLuxury owns and operates a leading luxury real estate portal for English and Chinese readers. Through a series of extensive publishing partnerships, PropGOLuxury powers the real estate distribution and search platforms for leading publications including The New York Times China Edition, The Financial Times, South China Morning Post, Singapore Press Holdings Z-Property and Luxury Insider. Soon to come are Financial Times Chinese, Reuters and Nikkei. $ 575 usd / month Display Ads on the Real Estate Property section of PropGOLuxury. Impression based selections

Spotlight Banner

Featured Properties

Large Centre Banner Location: Home page Size:

Your banner prominently displayed on top of all

Your properties displayed first in search results. Featured

678 x 279 px Impression: 25,000

properties search results in your select city or area.

properties are also larger and generate up to 8x more

Size: 848 x 300 px

leads than standard properties. Professional translation

Large Square Banner Location: Run on site Size: 350 x 250 px Impression: 100,000 Additional Services Client e-book creation Single Featured Properties

50% SOV* 100% SOV

from English to Chinese also included.

1 month

$600

$800

1 month

$400

3 months (5% off )

$570

$760

3 months(5% off)

$380

6 months (10% off ) $540

$720

6 months (10% off) $360

$550 usd (Normal price $1,100 usd)

Both Spotlight And Featured Properties

Multiple Properties Book - Up to 10 properties $750 usd (Normal price $1,500 usd) * Share of Voice 32

50% SOV

100% SOV

1 month

$950

$1,140

3 months (5% off )

$855

$1,026

6 months (10% off ) $720

$864 33

Robb Report Encompassing all aspects of fine living

Robb

Robb Report recognizes that their affluent audience uses multiple channels to communicate. Today, Robb Report’s content, influence, and reach can be found across platforms: print, digital, tablet and events. Real Estate Media Bar Drive visits to a property page with effective digital advertising on the Real Estate Channel of RobbReport. com. Placement on the Real Estate Media Bar provides outstanding visibility and click-thru for high impact awareness. ·· Limited Space Note: No branding or copy outside of Safe Zoneavailable: only 10 properties per month are permitted ·· Above average CTR ·· Can click directly to provided URL or landing page (built by RobbReport.com) ·· Property is live within 24-48 hours of receiving materials. ·· $885 usd per 30 days 34

SOTHEBY’S DIGITAL OPPORTUNITIES Sotheby’s Collaboration New Digital Advertising Opportunities 36

Sotheby’s Selects Newsletters Sotheby’s Selects is a weekly email newsletter featuring the best auction content including videos, slideshows and articles. It is sent to a global audience of 200,000 including Sotheby’s Preferred clients. ·· Weekly Newsletter (52 Weeks) ·· 200,000 Global Recipients $1800 per ad 37

sothebys.com Location / Consultant Pages sothebys.com location pages serve as the front door for collectors in one of the 40 cities served by the auction house. With content about local collections, gatherings and Sotheby’s events, these pages attract affluent collectors wishing to become part of the Sotheby’s world.

Regional Digital Newsletters Sotheby’s regional newsletters offer an opportunity to reach Sotheby’s clients located in specific markets with in language content that is focused on regional events.

Advertising prices based on page visits $700 - $2,500 a month

Italy : 4 x a year / 3,150 recipients

Hong Kong : $1,500 usd

Zurich: $700 usd

France: 10 x a year / 11,000 recipients

Geneva: $1,000 usd

New York: $2,500 usd

Netherlands: 4 x a year / 2,800 recipients

Milan: $1,000 usd

London: $1,500 usd

Germany: 4x a year / 3,600 recipients

Paris: $1,000 usd

Belgium (French & Dutch): 4 x a year / 3500 recipients Middle East /N. Africa: 4 x a year / 1600 recipients Austria: Coming Soon

$700 a month

India: Coming Soon

Asia & Pacific: 13 Markets

Middle East & N. Africa: 4 Markets

$700 per insertion

Europe: 30 Markets

North America: 12 Markets

Latin America: 6 Markets

UK & Ireland: 7 Markets

S O T H E B Y ’ S I N T E R N AT I O N A L R E A LT Y ®

2017 PROPERTY ADVERTISING SCHEDULE The Sotheby’s International Realty Property Advertising Program leverages high profile global media partners and offers targeted print and digital advertising opportunities.

Publication

Ad Date*

Affiliate Deadline

Color

# Properties per ad

Publication

Monday, December 5, 2016

4 Spots per Page

Saturday, March 4, 2017

Friday, February 17, 2017

B&W

Maximum 30 Spots

Wednesday, February 1, 2017

4 Spots per Page

Saturday, April 8, 2017

Friday, March 31, 2017

B&W

Maximum 30 Spots

May/June

Wednesday, March 1, 2017

4 Spots per Page

Saturday, June 3, 2017

Wednesday, May 24, 2017

B&W

Maximum 30 Spots

July/August

Tuesday, May 2, 2017

4 Spots per Page

Saturday, August 5, 2017

Friday, July 21, 2017

B&W

Maximum 30 Spots

September

Tuesday, June 27, 2017

4 Spots per Page

October

Tuesday, August 1, 2017

4 Spots per Page

Saturday, September 2, 2017 Saturday, November 4, 2017

Friday, August 18, 2017 Friday, October 20, 2017

B&W B&W

Maximum 30 Spots Maximum 30 Spots

November

Friday, September 1, 2017

4 Spots per Page

December/January 2018

Monday, September 25, 2017

4 Spots per Page

Monday, March 27, 2017

Friday, January 13, 2017

Monday, June 19, 2017

Friday, April 7, 2017

Monday, September 25, 2017

Friday, July 14, 2017

Monday, December 18, 2017

Friday, October 13, 2017

April/May/June

Wednesday, February 15, 2017

4 Spots per Page

July/August/September

Wednesday, May 17, 2017

4 Spots per Page

October/November/December

Wednesday, August 16, 2017

4 Spots per Page

January/February/March 2018

Wednesday, November 15, 2017

4 Spots per Page

February/March

Mondat, December 5, 2017

April/May

Wednesday, January 11, 2017

June/July

Wednesday, March 15, 2017

August/September

Wednesday, May 10, 2017

October/November

Wednesday, July 12, 2017

December 2017/January 2018

Wednesday, September 20, 2017

February/March

Wednesday, December 14, 2016

April/May

Friday, February 24, 2017

June/July

Friday, April 28, 2017

August/September

Friday, June 30, 2017

October/November

Friday, August 18, 2017

December 2017/January 2018

Friday, October 6, 2017

Barron’s Penta

February/March

Monday, December 5, 2016

4 Spots per Page

April

Wednesday, February 1, 2017

4 Spots per Page

May/June

Wednesday, March 1, 2017

4 Spots per Page

July/August

Tuesday, May 2, 2017

4 Spots per Page

September

Tuesday, June 27, 2017

4 Spots per Page

October

Tuesday, August 1, 2017

4 Spots per Page

November December/January 2018

Friday, September 1, 2017 Monday, September 25, 2017

4C 4C

4 Spots per Page 4 Spots per Page

Luxury Properties

Ocean Home

Friday, February 3, 2017

Friday, January 20, 2017

Friday, March 10, 2017

Friday, February 24, 2017

Friday, April 7, 2017

Thursday, March 30, 2017

Friday, May 5, 2017

Friday, April 21, 2017

Friday, June 2, 2017

Friday, May 19, 2017

Friday, July 14, 2017

Friday, June 30, 2017

Friday, August 11, 2017

Friday, July 28, 2017

Friday, September 15, 2017

Wednesday, August 30, 2017

Friday, October 13, 2017

Friday, September 29, 2017

Friday, November 10, 2017

Friday, October 27, 2017

Bloomberg Markets

New York Times Main News Section Sunday, February 12, 2017

Friday, January 13, 2017

B&W

25-30

Friday, March 3, 2017

Friday, February 10, 2017

B&W

25-30

Sunday, March 26, 2017

Wednesday, February 22, 2017

B&W

25-30

Friday, April 21, 2017

Friday, April 7, 2017

B&W

25-30

January

Monday, November 28, 2016

Friday, May 19, 2017

Friday, May 5, 2017

B&W

25-30

February

Monday, December 19, 2016

Friday, June 16, 2017

Friday, June 2, 2017

B&W

25-30

March

Monday, January 23, 2017

Friday, July 21, 2017

Friday, July 7, 2017

B&W

25-30

April

Tuesday, February 21, 2017

Friday, August 18, 2017

Friday, August 4, 2017

B&W

25-30

May

Monday, March 20, 2017

Friday, September 22, 2017

Friday, September 8, 2017

B&W

25-30

June

Monday, April 24, 2017

Friday, October 20, 2017

Friday, September 29, 2017

B&W

25-30

July

Monday, May 22, 2017

Sunday, November 12, 2017

Friday, October 13, 2017

B&W

25-30

August

Monday, June 19, 2017

September

Monday, July 24, 2017

October

Monday, August 21, 2017

November

Monday, September 25, 2017

December

Monday, October 23, 2017

January '18

Monday, November 20, 2017

February '18

Monday, December 18, 2017

Boston Magazine

Financial Times Saturday, January 21, 2017

Friday, January 6, 2017

20-24

Saturday, February 18, 2017

Wednesday, February 1, 2017

20-24

Saturday, March 18, 2017

Wednesday, March 1, 2017

20-24

Saturday, April 29, 2017

Wednesday, April 12, 2017

20-24

Saturday, May 20, 2017

Wednesday, May 3, 2017

20-24

Saturday, June 17, 2017

Wednesday, May 31, 2017

20-24

Saturday, September 30, 2017

Wednesday, September 13, 2017

20-24

Sunday, January 29, 2017

Friday, January 13, 2017

6 spots per quarter Page

Saturday, October 28, 2017

Wednesday, October 11, 2017

20-24

Sunday, February 12, 2017

Friday, January 27, 2017

6 spots per quarter Page

Saturday, November 25, 2017

Wednesday, November 8, 2017

20-24

Sunday, March 19, 2017

Friday, March 3, 2017

6 spots per quarter Page

Sunday, April 23, 2017

Friday, April 7, 2017

6 spots per quarter Page

Sunday, May 21, 2017

Friday, May 5, 2017

6 spots per quarter Page

New York Times International Edition Wraps New York Couture Show

The Sunday Times of London

Saturday, February 11, 2017

Friday, January 13, 2017

Sunday, June 18, 2017

Friday, June 2, 2017

6 spots per quarter Page

Cannes Film Festival

Friday, May 19, 2017

Thursday, April 20, 2017

Sunday, September 17, 2017

Friday, September 1, 2017

6 spots per quarter Page

Wimbledon Tennis

Friday, July 14, 2017

Friday, June 16, 2017

Sunday, October 15, 2017

Friday, September 29, 2017

6 spots per quarter Page

Friday, September 29, 2017

Friday, August 25, 2017

Sunday, November 12, 2017

Friday, October 27, 2017

6 spots per quarter Page

Wednesday, December 6, 2017

Wednesday, November 8, 2017

Monaco Yacht Show

# Properties per ad

February/March

Wall Street Journal Global

WEALTH Special Section

Color

April

Sotheby’s Preferred

YOUR MONEY Special Section

Affiliate Deadline

New York Times International Edition

Sotheby’s Art & Home - Full Page ads receive a FREE Landing Page banner on Sothebys.com for one month.

WEALTH Special Section

Ad Date*

Dubai Film Festival

S O T H E B Y ’ S I N T E R N AT I O N A L R E A LT Y ®

2017 PROPERTY ADVERTISING DIGITAL SCHEDULE Publication

Ad Date*

Affiliate Deadline

Color

# Properties per ad

March

Friday, January 6, 2017

May

Friday, February 24, 2017

June

Friday, March 24, 2017

September

Friday, June 23, 2017

Robb Report

Digital Program

Program Frequency

Impressions Guaranteed Click-thrus* - One time $300 banner generation fee

November

Friday, August 25, 2017

January 2018

Friday, October 27, 2017

March/April/May

Wednesday, January 18, 2017

June/July/August

Wednesday, April 12, 2017

September/October/November

Wednesday, July 12, 2017

December 2017/January 2018/February 2018

Wednesday, October 18, 2017

Kingdom - Bonus Circulation TPC Signature Magazine

1,000,000 impressions 500,000 impressions 250,000 impressions

NYTimes.com Banners*

Monthly

15th of each month

PropGoLuxury.com Banners*

Monthly

15th of each month

Monthly

Any Day

Monthly

15th of each month

Hong Kong

Monthly

1st of each month

Geneva

Monthly

1st of each month

London

Monthly

1st of each month

Milan

Monthly

1st of each month

New York

Monthly

1st of each month

Paris

Monthly

1st of each month

Zurich

Monthly

1st of each month

Asia & Pacific (13 Markets)

Monthly

1st of each month

Europe (30 Markets)

Monthly

1st of each month

Latin America (6 Markets)

Monthly

1st of each month

Middle East & North Africa (4 Markets)

Monthly

1st of each month

North America (12 Markets)

Monthly

1st of each month

United Kingdom & Ireland (7 Markets)

Monthly

1st of each month

Weekly

Any day

WSJ.com Featured Property Upgrades 10 Property Upgrades 25 Property Upgrades 100 Property Upgrades

RobbReport.com Real Estate Media Bar* NonStop Gulfstream (Gulfstream Jet Owners)

Sothebys.com

Spring - April 2017

Monday, January 30, 2017

Fall - October 2017

Monday, July 24, 2017

Sothebys.com Auction Location Pages*

Sotheby’s Magazine Advertorial Pages - Sotheby’s Magazine/ Art & Home / Sotheby’s Preferred 2 Pg or 4 Pg Advertorial Feature Story

February/March

Monday, December 5, 2016

April

Wednesday, January 18, 2017

May/June

Saturday, February 18, 2017

July/August

Tuesday, April 18, 2017

September

Tuesday, June 13, 2017

October

Tuesday, July 18, 2017

November

Tuesday, August 22, 2017

December/January 2018

Thursday, September 14, 2017

Sothebys.com Representatives and Consultants Pages*

Sotheby’s Selects E-Newsletter

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Deadline

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