Guyette and Schmidt, Inc Decoy Auction Firm

CHRISTIE'S AND GUYETTE & SCHMIDT, INC. ANNOUNCE STRATEGIC ASSOCIATION

New York - In an exciting cross marketing move, Christie's, the world's leading art business, and Guyette & Schmidt, Inc, the world's largest antique decoy auction firm, announced their strategic association which will be aimed at providing the highest level of service to the existent decoy market while further developing and supporting interest in and awareness of this collecting field. Combining the expertise, business acumen and client networks of both companies, this association will be beneficial to the decoy collecting community inside and outside of the United States.

"We are delighted about the association as it represents a natural progression in the longstanding working relationship Christie's and Guyette & Schmidt have enjoyed for many years now," said Margot Rosenberg, Head of the department of American Furniture, Decorative Arts & Folk Art at Christie's. "Ultimately, combining the great resources that have been developed by Christie's as well as Guyette & Schmidt, Inc. throughout both companies' long involvement with the decoy collecting field will offer collectors worldwide a level of excellence that is virtually second to none. It is an exciting venture we are looking forward to embark upon."

"We are extremely excited about the potential that this new and ongoing association will create for the decoy collecting community," said Frank Schmidt, Co-owner of Guyette & Schmidt, Inc. "It will not only broaden our marketing capabilities for major decoy collections that will eventually come to market, but it stands to generate an even wider level of appreciation of the waterfowl decoy as a major American folk art form."

Christie's and Guyette & Schmidt, Inc. have teamed up on several occasions over the past years. Most recently, Christie's in association with Guyette & Schmidt set a world record for a waterfowl decoy at auction with an exceptional merganser hen, by Lothrop Holmes, which fetched $856,000 in the January 2007 sale at Christie's of Important American Furniture, Folk Art, Silver, Prints and Decoys (detail image left). In conjunction with this sale, Christie's and Guyette & Schmidt, Inc. offered an exceptional collection of decoys belonging to Dr. Alvin Friedman-Kien, which was sold to benefit the Alvin E. Friedman-Kien Foundation. Decoys offered in these two sales realized over $2.3 million. In 2003, Christie's/Guyette & Schmidt offered The Russell B. Aitken Collection of Wildfowl Decoys, which realized $2.8 million and set a new world auction record for a waterfowl decoy at the time when a preening pintail drake, by Elmer Crowell, East Harwich, Massachusetts, circa 1915, obtained $801,500.

About Christie's
Christie's is the world's leading art business with global auction sales in 2006 that totaled Ł2.51 billion / $4.67 billion. Worldwide sales for the first half of 2007 totaled Ł1.63 billion / $3.25 billion, an increase of 32% by Ł and 45% by $ from the same period last year and highest half year sales ever in art market history. Christie's is a name and place that speaks of extraordinary art, unparalleled service, and international glamour. Founded in 1766 by James Christie, Christie's conducted the greatest auctions of the 18th, 19th and 20th centuries, and today remains a popular showcase for the unique and the beautiful. Christie's offers over 600 sales annually in over 80 categories, including all areas of fine and decorative arts, jewelry, photographs, collectibles, wine, cars and more. Prices range from $200 to over $80 million. Christie's has 85 offices in 43 countries and 14 salerooms around the world including London, New York, Los Angeles, Paris, Geneva, Milan, Amsterdam, Tel Aviv, Dubai and Hong Kong. Most recently, Christie's has led the market with expanded initiatives in emerging markets such as China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Dubai, Mumbai and Russia. Christie's also offers its clients worldwide access to its sales through Christie's LIVE™, its unique, real-time online bidding service. www.christies.com

About Guyette & Schmidt, Inc.
Established in 1984, Guyette & Schmidt, Inc. is the world's largest antique decoy auction firm with over $110,000,000 in sales. They hold three decoy auctions per year in St. Charles, Illinois; Portland, Maine; and Easton, Maryland, specializing in antique duck, shorebird, and fish decoys, fish carvings, waterfowl paintings and prints, duck calls, and ammunition advertising. Since 1989 Guyette & Schmidt, Inc. has dominated the decoy auction field leading by large margins in most statistical categories (See "Decoy Magazine"), by which auction houses are measured. Beginning March 2008, Guyette & Schmidt, Inc. will conduct a small cash & carry auction at the Ohio Decoy Collections Association show. Guyette & Schmidt, Inc. has offices in St. Michaels, Maryland and in West Baldwin, Maine. The Guyette & Schmidt, Inc. retail gallery is located at 933 Talbot Street, St. Michaels, Maryland. The firm also operates an online antique decoy shopping site, Everyone's Decoy Warehouse; which sells inexpensive decoys with guaranteed descriptions.

Guyette & Schmidt, Inc. and Christie's Announcement of New Affiliation Creates Strategic Marketing and Promotional Advantages For Decoy Market. This association will give Guyette & Schmidt, Inc. consignors a marketing advantage that no other decoy auction house can provide.

"This new association will not change our current auction schedule or polices, but rather, it will expand and create a more dynamic marketing environment for our clientele."

"This exciting new relationship should open up the decoy collecting market for decoys at all levels by creating an increased level of exposure to an even wider audience of new potential collectors."

These new strategies will include, but not be limited to:

Some Guyette & Schmidt, Inc. auction decoys will be on display at Christie's Rockefeller Plaza showroom during select Christie's auctions and previews.

Guyette & Schmidt, Inc. will have the technology to use our own version of the "Christie's Live" online bidding. This will actually show the auctioneer live and will bypass eBay.

Guyette & Schmidt, Inc. company page will be in Christie's auction catalogs and on their website with links to Guyette & Schmidt, Inc. website.

Guyette & Schmidt, Inc. decoy auctions will be advertised on Christie's website and in their auction catalogs.

Christie's company page will be on Guyette & Schmidt, Inc.'s website with links to Christie's website and auction catalogs.

Christie's select auctions will be advertised in Guyette & Schmidt, Inc.'s auction catalogs and on their website.

Christie's and Guyette & Schmidt, Inc. plan to have an annual January decoy auction at Rockefeller Plaza in Manhattan. (January 18, 2008)

Guyette & Schmidt, Inc. and Christie's will be conducting projects to expand the decoy market. Examples:

Decoy collection displays in New York City.
Christie's American Furniture and Folk Art appraisal days at Guyette &
Schmidt, Inc. Art Gallery in St. Michaels.

Guyette & Schmidt, Inc. policies, regular auction locations, commission rates, and buyer's premium will not be affected by this affiliation.