Auction Of Jewelry, Watches, Antiques And Giftware

MINIMUM BIDS: The minimum bid(s) for the Inventory are as follows: • $122,000 for all of the Inventory; • $20,000 for all Jewelry; • $63,000 for all Watches (and watch straps); • $14,000 for all Antiques; and • $25,000 for all Giftware. There is no minimum bid for the disassembled Waterford crystal water fountain.

BID DEADLINE: Bids may be made at any time prior to, but no later than, 12:00 p.m. on August 11, 2018. Bids may be made in person at the Auction or via-email at [email protected].

ASSET PURCHASE AGREEMENT: Concurrent with the submission of its bid, each prospective purchaser must execute an asset purchase agreement (the "APA") that is substantially similar to the asset purchase agreement that is available at: http://bit.ly/Orgell-Agreement. Copies of the APA will also be available at the Auction.

DEPOSIT: Concurrent with the submission of its bid, each prospective purchaser must also deliver by cashier's check a deposit (the "Deposit") in an amount of not less than 10% of the minimum bid required for the asset(s) upon which such prospective purchaser is bidding (i.e., $12,200 for all Inventory; $2,000 for Jewelry; $6,300 for Watches; $1,400 for Antiques; $2,500 for Giftware). The Deposit will be held in the client trust account of SulmeyerKupetz, A Professional Corporation, general bankruptcy counsel to R&S, pending approval by the Bankruptcy Court of the purchase and sale to which the Deposit relates. The Deposit will be refundable only in the event of the following: (i) another bidder submits a higher and better bid for the same asset(s), in which case the Deposit will be returned immediately after the Auction (provided, however, that any prospective bidder may elect to serve as a "backup bidder" in case the sale to the winning bidder is not approved, in which case the Deposit shall be retained until the hearing); (ii) the sale to the bidding party is not approved by the U.S. Bankruptcy Court at the August 16, 2018 hearing; or (iii) R&S is unable to transfer marketable title within ten (10) business days of entry of the order approving the sale (or such other later date as the parties may agree).

BANKRUPTCY COURT APPROVAL: The sale is subject to Bankruptcy Court approval, which approval will be obtained at a hearing on August 16, 2018 at 10:00 a.m. in Courtroom 1375 of the U.S. Bankruptcy Court, 255 East Temple Street, Los Angeles, California 90012, the Honorable Julia W. Brand presiding. DUE DILIGENCE: R&S will make the Inventory available for inspection to potential purchasers. R&S will hold an open preview of the Inventory on August 8, 2018 from 10:00 a.m. to 12:00 p.m. at 141 S. El Camino Drive, Suite 210, Beverly Hills, CA 90212 (the "Preview"). Participants may park in nearby City of Beverly Hills parking lot(s) or on the street. All persons interested in attending the Preview will be required to present government-issued identification before being admitted therein. Additionally, interested parties that cannot attend the Preview or otherwise wish to see the Inventory on a different date and time may arrange this inspection with R&S's representatives directly by contacting R&S either by phone (310-273-6660 or 1-800-367-4355) or email ([email protected]). All items will be sold on an "as is" / "where is" basis, with no representations or warranties whatsoever. They will be sold subject to existing liens, encumbrances, and restrictions, although there are none that R&S knows of at this time. All due diligence must be completed by the prospective purchaser prior to the submission of its bid.

OVERBIDS: At 12:00 p.m. on August 11, 2018, at the Auction, R&S will announce the highest bid(s). To the extent that multiple parties bid on the Inventory, any of the four "batches," or the Waterford crystal fountain, R&S will conduct a live auction so as to provide parties who were outbid with a chance to submit higher and better bids. Overbids at the live auction will be in increments of not less than $5,000 over the prior bid submitted.

All items will be sold on an "as is" / "where is" basis, with no representations or warranties whatsoever. They will be sold subject to existing liens, encumbrances, and restrictions, although there are none that R&S knows of at this time. All due diligence must be completed by the prospective purchaser prior to the submission of its bid.