Wine Country Market Update | Q1 2016

St. Helena, CA | web ID: 0244035

Wine Country Market Update First Quarter 2016 SONOMA & NAPA - WINE COUNTRY BROKERAGES 25 East Napa Street, Sonoma | t: 707.935.2288 722 Broadway Street, Sonoma | t: 707.939.2230 428 First Street East, Sonoma | t: 707.939.4460

sothebyshomes.com

All data within this document is pulled from the Bay Area Real Estate Information Services (BAREIS)

A MESSAGE FROM OUR MANAGER: Jonathan Soh

A MESSAGE FROM OUR MANAGER: Jonathan Soh

According to Bay Area Real Estate Information Services, both the sales volume and average sales price for single-family homes were up in Q1 2016 compared to Q1 2015 in most Wine Country markets. Following a slow Q1 2015, sales volume in Q1 2016 was up 26% in Sonoma Valley. The Healdsburg market boasted a 32% increase in sales volume during the same time period and the St. Helena market experienced a 68% increase, from $19.2M in Q1 2015 to $32.3M in Q1 2016. Of particular note, was the over $1M price category where the Sonoma Valley market had a 44% increase in sales volume in Q1 2016 vs. Q1 2015, the City of Sebastopol showed an 86% increase from $2.6M in Q1 2015 to $4.9M in Q1 2016, and the City of Petaluma showed a whopping 458% increase from $2.3M in Q1 2015 to $12.7M in Q1 2016. With numbers like these, it is no surprise that the average sales price continues to climb in the Wine Country. The average sales price for single-family homes in the City of Petaluma increased 25% in Q1 2016 over Q1 2015 from $550,000 to $689,000. It increased 24% in the City of Napa during the same time period from $700,000 to $870,000, and climbed 15% in the St. Helena market from $1.3M to $1.5M. Strong demand and low inventory continue to dominate the marketplace.

SONOMA VALLEY MARKET SUMMARY (SFH) The Sonoma Valley market for single family homes remains very strong. Total Sales Volume increased 26% from $61,670,270 in Q1 2015 to $77,535,050 in Q1 2016. The strongest price segments were $500K-$1M and over $1M, each showing a 44% increase in Sales Volume. The number of Units Sold increased 45% in the $500K-$1M price category and 22% in the over $1M price category. A total of 82 Units were sold in Q1 2016, and the Average Sales Price increased 23% from $770,878 in Q1 2015 to $945,549 in Q1 2016. The Average Sales Price in the Sonoma Valley market has increased a total 64% in the four years between Q1 2013 and Q1 2016 from $576,111 in Q1 2013 to $945,549 in Q1 2016.

Q1 2016 SONOMA VALLEY VOLUME 9%

< $500k $500k - $1.0M

52%

39%

$1.0M and up

ST. HELENA MARKET SUMMARY (SFH) The St. Helena market for single family homes was very robust in Q1 2016. Total Sales Volume increased 68% Q1 2016 over Q1 2015 from $19,224,400 in Q1 2015 to $32,321,000 in Q1 2016. Particularly noteworthy was the activity in the over $1M price category where there was 133% increase in Units Sold Q1 2016 over Q1 2015 and 105% increase in Sales Volume. The Average Sales Price in St. Helena increase 15% from $1,281,633 in Q1 2015 to $1,469,136 in Q1 2016. The Average Sales Price in St. Helena has increased a total of 69% in the four years between Q1 2013 and Q1 2016 from $871,481 in Q1 2013 to $1,469,136 in Q1 2016, further exemplifying strong demand in a market with a limited supply of properties for sale.

ST. HELENA VOLUME Q1 Q4-2014 2016 ST.-HELENA VOLUME 1%

18% < $500k $500k - $1.0M $1.0M and up

81%

Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

SIGNIFICANT SALES Q1 2016

left to right from top to bottom:

STEWARTS POINT | $4,750,000 SONOMA | $4,395,000 ST. HELENA | $3,895,000 GLEN ELLEN | $3,750,000 GLEN ELLEN | $3,325,000 SONOMA | $2,850,000 SONOMA | $2,800,000 SONOMA | $2,695,000 SONOMA | $1,900,000 sothebyshomes.com

SONOMA VALLEY

SINGLE FAMILY HOME SALES Approximately 40 miles north of San Francisco, Sonoma real estate is perfectly situated to maximize residentsâ&#x20AC;&#x2122; quality of life. Although world-renowned as a wine mecca, Sonoma maintains the tight-knit feel of a small community, with a charming downtown. In 1846, the California Republic declared its independence from Mexico, with Sonoma named the capital of this shortlived sovereign state. Consequently, Sonoma is known as the birthplace of California, a town rich in history surrounded by breathtaking natural beauty.

Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

$341,683

$374,747

$399,408

$447,933

12%

$500K - $1M

$692,052

$677,519

$675,823

$669,968

-1%

$1,000,000 AND UP

$1,493,178 $2,095,571 $1,574,340 $1,848,523

17%

(2016 v 2015)

$1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2013

TOTALS

$576,111

$924,563

$770,878

$945,549

2014

Average List Price

23%

2015

2016

Average Sales Price

Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

50

29

31

15

-52%

$500K - $1M

22

35

31

45

45%

$1,000,000 AND UP

10

21

18

22

22%

TOTALS

82

85

80

82

3%

2013

2014

2015

2016

UP TO $500,000

$17,084,150

$10,867,663

$12,381,650

$6,719,000

-46%

$500K - $1M

$15,225,150

$23,713,173

$20,950,500

$30,148,550

44%

$1,000,000 AND UP

$14,931,775

$44,007,000

$28,338,120

$40,667,500

44%

TOTALS

$47,241,075

$78,587,836

$61,670,270

$77,535,050

26%

(2016 v 2015)

86 85 84 83 82 81 80 79 78 77 2013

2014

2015

2016

Q1 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2016 v 2015)

$90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $-

SERVING SONOMA AND NAPA | sothebyshomes.com/sonoma-real-estate

2013

2014

2015

2016

4

NAPA

SINGLE FAMILY HOME SALES

The City of Napa, at the southern end of Napa Valley, was incorporated in 1872, and reincorporated again in 1874 as the City of Napa. Napa became the primary business and economic center for the Napa Valley by the early 20th century. Napa is a world-class destination for wine country excursions with tasting bars and large wineries, including the Michael Mondavi Family Estate and the Domaine Carneros winery.

Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

$336,076

$379,699

$403,942

$436,585

8%

$500K - $1M

$678,031

$669,050

$670,788

$684,651

2%

$1,432,000

$1,561,717

$2,010,279

$2,391,060

19%

$486,113

$607,395

$703,344

$871,040

24%

$1,000,000 AND UP

(2016 v 2015)

$1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $2013

TOTALS

2014

Average List Price

2015

2016

Average Sales Price

Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

2013

2014

2015

2016

127

66

75

41

% CHANGE (2016 v 2015)

200 180 160

UP TO $500,000

-45%

140 120

$500K - $1M

50

58

73

92

26%

$1,000,000 AND UP

10

12

19

23

21%

TOTALS

187

136

167

156

-7%

2013

2014

2015

2016

UP TO $500,000

$42,681,621

$25,060,151

$30,295,636

$17,900,003

$500K - $1M

$33,901,550

$38,804,920

$48,967,499

$62,987,935

29%

$1,000,000 AND UP

$14,320,000

$18,740,600

$38,195,295

$54,994,375

44%

TOTALS

$90,903,171

$82,605,671

$117,458,430

$135,882,313

16%

100 80 60 40 20 2013

2014

2015

2016

Q1 CLOSED VOLUME (SFH) PRICE RANGE

5

% CHANGE (2016 v 2015) -41%

$160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $2013

2014

2015

2016

ST. HELENA

SINGLE FAMILY HOME SALES Located north of Napa, Yountville and Oakville, St. Helena is referred to as the heart of Napa Valley. St. Helena has a population of just 5,000 people, spans approximately four square miles and is home to some of the best wineries, restaurants and shopping in Wine Country as well as some of the most exquisite estate properties in Wine Country.

Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

$401,667

$475,000

-

$350,000

-

$500K - $1M

$730,353

$783,857

$723,556

$841,143

16%

$2,118,750

$1,863,071

-12%

$1,000,000 AND UP TOTALS

$1,506,250 $871,481

$2,556,333 $1,704,059

(2016 v 2015)

$2,000,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2013

$1,281,633

$1,469,136

2014

Average List Price

15%

2015

2016

Average Sales Price

Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

3

1

-

1

-

$500K - $1M

17

7

9

7

-22%

(2016 v 2015)

30 25 20 15 10

$1,000,000 AND UP

6

9

6

14

133%

TOTALS

26

17

15

22

47%

2013

2014

2015

2016

UP TO $500,000

$1,205,000

$475,000

-

$350,000

-

$500K - $1M

$12,416,000

$5,487,000

$6,512,000

$5,888,000

-10%

$1,000,000 AND UP

$9,037,500

$23,007,000

$12,712,500

$26,083,000

105%

$19,224,500

$32,321,000

68%

5 2013

2014

2015

2016

Q1 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2016 v 2015)

$35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $-

TOTALS

$22,658,500

$28,969,000

SERVING SONOMA AND NAPA | sothebyshomes.com/sonoma-real-estate

2013

2014

2015

2016

6

HEALDSBURG

SINGLE FAMILY HOME SALES

The quaint hamlet of Healdsburg, located at the gateway of Sonoma Countyâ&#x20AC;&#x2122;s diverse wine growing region, is just 75 miles north of San Francisco. Healdsburg is a vibrant community with world-wide recognition as a popular destination for visitors looking to experience the American Tuscany. It is a welcome retreat, catering to its visitors and residents with first class hotels, spas, restaurants and boutiques. Many Victorian and Craftsman style homes reflect the towns rich 150 year old heritage.

Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

$369,418

$393,308

$436,400

$403,750

-7%

$500K - $1M

$664,317

$747,125

$731,237

$703,709

-4%

$2,220,833

$1,716,517

$2,016,830

$1,954,046

-3%

$1,000,000 AND UP

(2016 v 2015)

$1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $2013

TOTALS

$754,872

$855,675

$1,139,861 $1,038,254

2014

Average List Price

-9%

2015

2016

Average Sales Price

Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE UP TO $500,000

2013

2014

2015

2016

20

13

5

4

% CHANGE

50

(2016 v 2015)

45

-20%

35

40 30

$500K - $1M

12

16

15

28

87%

$1,000,000 AND UP

6

9

11

13

18%

TOTALS

38

38

31

45

45%

2013

2014

2015

2016

UP TO $500,000

$7,388,350

$5,113,000

$2,182,000

$1,615,000

-26%

$500K - $1M

$7,971,800

$11,954,000

$10,968,550

$19,703,850

80%

$1,000,000 AND UP

$13,325,000

$15,448,650

$22,185,133

$25,402,600

15%

TOTALS

$28,685,150

25 20 15 10 5 2013

2014

2015

2016

Q1 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2016 v 2015)

$50,000,000 $45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000

7

$10,000,000 $5,000,000

$32,515,650

$35,335,683

$46,721,450

32%

$2013

2014

2015

2016

SANTA ROSA

SINGLE FAMILY HOME SALES With over 150,000 residents, Santa Rosa is the largest city in Sonoma County and serves as the areaâ&#x20AC;&#x2122;s cultural and economic hub. The vibrant downtown is home to some of the best shopping, restaurants, nightclubs and shows in the County. With a thriving arts and performing arts scene, Santa Rosa is also home to the Museum of Contemporary Art, the Sonoma County Museum, the Santa Rosa Symphony, and the Luther Burbank Home and Gardens. Santa Rosa real estate enjoys a relatively cosmopolitan environment, with many of the quaint smaller towns of Sonoma County just a sort ride away.

Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

$324,882

$379,311

$401,504

$429,104

7%

$500K - $1M

$666,196

$669,879

$636,560

$649,122

2%

$1,292,875

$1,718,460

$1,517,059

$1,287,418

-15%

$410,856

$534,302

$554,847

$593,113

7%

$1,000,000 AND UP

(2016 v 2015)

$700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $2013

TOTALS

2014

Average List Price

2015

2016

Average Sales Price

Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

287

218

194

132

-32%

$500K - $1M

69

92

105

151

44%

$1,000,000 AND UP

8

18

22

19

-14%

364

328

321

302

-6%

2013

2014

2015

2016

UP TO $500,000

$93,241,058

$82,689,886

$77,891,707

$56,641,758

-27%

$500K - $1M

$45,967,525

$61,628,903

$66,838,832

$98,017,359

47%

$1,000,000 AND UP

$10,343,000

$30,932,275

$33,375,295

$24,460,950

-27%

TOTALS

$149,551,583

$175,251,064

$178,105,834

$179,120,067

1%

TOTALS

(2016 v 2015)

400 350 300 250 200 150 100 50 2013

2014

2015

2016

Q1 CLOSED VOLUME (SFH) PRICE RANGE

% CHANGE (2016 v 2015)

$185,000,000 $180,000,000 $175,000,000 $170,000,000 $165,000,000 $160,000,000 $155,000,000 $150,000,000 $145,000,000 $140,000,000 $135,000,000 $130,000,000

SERVING SONOMA AND NAPA | sothebyshomes.com/sonoma-real-estate

2013

2014

2015

2016

8

SEBASTOPOL

SINGLE FAMILY HOME SALES

Located ten miles from Bodega Bay, Sebastopol real estate sits on the western edge of the Santa Rosa plain. Sebastopol has a rich history as an apple growing region, and although apples have all but been completely supplanted by wine grapes, the town still celebrates its roots with the annual Apple Blossom Festival and Gravenstein Apple Fair. While exuding quaint small town charm, Sebastopol is also recognized as being one of the most politically progressive towns in Northern California.

Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

$334,756

$365,250

$428,200

$444,000

4%

$500K - $1M

$586,696

$681,756

$680,270

$714,684

5%

-

$1,166,667

$1,313,789

$1,225,000

-7%

(2016 v 2015)

$800,000 $700,000 $600,000 $500,000 $400,000

$1,000,000 AND UP

$300,000 $200,000 $100,000 $2013

TOTALS

$448,376

$622,229

$680,493

$724,859

2014

Average List Price

7%

2015

2016

Average Sales Price

Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

28

14

5

6

20%

$500K - $1M

23

33

23

31

35%

(2016 v 2015)

60 50 40 30 20

$1,000,000 AND UP TOTALS

-

3

2

4

100%

51

50

30

41

37%

2013

2014

2015

2016

$9,373,155

$5,113,500

$2,141,000

$2,664,000

24%

$13,494,000

$22,497,950

$15,646,200

$22,155,200

42%

-

$3,500,000

$2,627,577

$4,900,000

86%

$22,867,155

$31,111,450

$20,414,777

$29,719,200

46%

10 2013

2014

2015

2016

Q1 CLOSED VOLUME (SFH) PRICE RANGE UP TO $500,000

% CHANGE (2016 v 2015)

$35,000,000 $30,000,000 $25,000,000 $20,000,000

$500K - $1M

$15,000,000 $10,000,000

$1,000,000 AND UP TOTALS

9

$5,000,000 $2013

2014

2015

2016

ROHNERT PARK and COTATI

SINGLE FAMILY HOME SALES

As one of the first planned cities in America, Rohnert Park is thoughtfully designed to maximize the comfort and happiness of its citizens. Neighborhoods cater to families, with large Rohnert Park homes along tree-lined streets and each individual community built around a park and elementary school. Rohnert Park is also home to the beautiful campus of Sonoma State University.

Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

$359,823

$399,371

$408,100

$437,824

7%

$500K - $1M

$627,000

$540,653

$575,908

$590,227

2%

-

$1,020,000

-

-

-

$371,440

$430,637

$443,428

$508,659

15%

(2016 v 2015)

$600,000 $500,000 $400,000 $300,000 $200,000 $100,000

$1,000,000 AND UP

$2013

TOTALS

2014

Average List Price

2015

2016

Average Sales Price

Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

66

47

45

38

-16%

$500K - $1M

3

8

12

33

175%

$1,000,000 AND UP

-

1

-

-

-

69

56

57

71

25%

2013

2014

2015

2016

$23,748,349

$18,770,455

$18,364,500

$16,637,300

UP TO $500,000

TOTALS

(2016 v 2015)

80 70 60 50 40 30 20 10 2013

2014

2015

2016

Q1 CLOSED VOLUME (SFH) PRICE RANGE UP TO $500,000

% CHANGE (2016 v 2015) -9%

$40,000,000 $35,000,000 $30,000,000 $25,000,000

$500K - $1M $1,000,000 AND UP

$1,881,000

$4,325,227

$6,910,900

$19,477,500

182%

-

$1,020,000

-

-

-

$25,629,349

$24,115,682

$25,275,400

$36,114,800

43%

$20,000,000 $15,000,000 $10,000,000 $5,000,000 $-

TOTALS

SERVING SONOMA AND NAPA | sothebyshomes.com/sonoma-real-estate

2013

2014

2015

2016

10

PETALUMA

SINGLE FAMILY HOME SALES

The town of Petaluma offers a little slice of California history to all who come to sample its Victorian delights. Petaluma offers many colorful family events that provide opportunities to escape the everyday hustle and bustle of life.

The Great Petaluma Mill, which stands guard over the west bank, is one of the oldest structures in town.

Q1 AVERAGE SALES PRICE (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

$372,402

$405,382

$430,667

$421,577

-2%

$500K - $1M

$605,640

$622,274

$637,015

$636,572

0%

$1,000,000 AND UP

$1,347,000

$1,294,000

$1,137,500

$1,585,588

39%

(2016 v 2015)

$800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $2013

TOTALS

$478,547

$554,578

$549,946

$688,715

2014

Average List Price

25%

2015

2016

Average Sales Price

Q1 CLOSED UNITS: # OF SIDES (SFH) PRICE RANGE

% CHANGE

2013

2014

2015

2016

UP TO $500,000

90

43

50

13

-74%

$500K - $1M

41

62

55

71

29%

$1,000,000 AND UP

5

3

2

8

300%

136

108

107

92

-14%

2013

2014

2015

2016

UP TO $500,000

$33,516,179

$17,431,413

$21,533,340

$5,480,500

-75%

$500K - $1M

$24,831,250

$38,581,000

$35,035,850

$45,196,600

29%

$1,000,000 AND UP

$6,735,000

$3,882,000

$2,275,000

$12,684,700

458%

TOTALS

$65,082,429

$59,894,413

$58,844,190

$63,361,800

8%

TOTALS

(2016 v 2015)

160 140 120 100 80 60 40 20 2013

2014

2015

2016

Q1 CLOSED VOLUME (SFH) PRICE RANGE

11

% CHANGE (2016 v 2015)

$66,000,000 $65,000,000 $64,000,000 $63,000,000 $62,000,000 $61,000,000 $60,000,000 $59,000,000 $58,000,000 $57,000,000 $56,000,000 $55,000,000 2013

2014

2015

2016

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ON THE MARKET

left to right from top to bottom:

SONOMA VALLEY SONOMA | Web: 1190316 | $2,875,000 SONOMA | Web: 1190359 | $2,390,000 GLEN ELLEN | Web: 0243881 | $1,359,000 NAPA VALLEY CALISTOGA | Web: 0244045 | $7,900,000 ST. HELENA | Web: 0244007 | $4,999,900 NAPA | Web: 1190363 | $1,698,000 OTHER MARKETS HEALDSBURG | Web: 0087700 | $3,950,000 SEBASTOPOL | Web: 1190291 | $2,599,000 THE SEA RANCH | Web: 1190362 | $245,000 sothebysrealty.com

AN EXQUISITE DIAMOND DESERVES AN EXCLUSIVE SETTING.

Collection available for purchase at Sotheby’s Diamonds salons and exclusive exhibitions worldwide.

New York +1 212 894 1400 | London +44 20 7293 6430 | Hong Kong +852 2822 8179 | sothebysdiamonds.com SOTHEBY’S, INC. LICENSE NO. 1216058. © SOTHEBY’S, INC. 2015

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS NEW YORK, NY | Web: 00110660 | $3,000,000 SAN FRANCISCO, CA | Web: 0087754 | $3,298,000 LOS ANGELES, CA | Web: 0308615 | $3,195,000 RESORT MARKETS PALM BEACH, FL | Web: 0075998 | $3,950,000 EAST HAMPTON, NY | Web: 0043063 | $3,500,000 MONTECITO, CA | Web: 0632458 | $3,195,000 FOREIGN MARKETS GERMANY | Web: VHZHL2 | $3,853,027 CANADA | Web: X3PBBL | $3,727,410 THAILAND | Web: SMRD4M | $3,828,158 sothebysrealty.com

AUCTION CALENDAR MAY 2016

© 2016 Calder Foundation, New York / Artists Rights Society (ARS), New York

Property Formerly in the Collection of Alfred H. Barr, Jr. Alexander Calder Untitled, circa 1942 Estimate $2,500,000-3,500,000

Orfèvrerie, Boîtes en Or et Objets de Vitrine

Impressionist & Modern Art Day Sale

Contemporary Art Day Auction

New York 10 May

New York 12 May

Contemporary Art Evening Auction

Important Chinese Art

New York 11 May

London 13 May

Finest and Rarest Wines

RM Sotheby’s: Monaco

London 11 May

Monte Carlo 14 May

Paris 3 May MALCOLM Part One: New York

New York 7 May Impressionist & Modern Art Evening Sale

New York 9 May

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