Document:

AGREEMENT FOR EXTENSION OF CONSIGNMENT AGREEMENT

     THIS AGREEMENT FOR EXTENSION OF CONSIGNMENT  AGREEMENT (the "Agreement") is
made  and  entered  into  this  29th  day  of  October,  2001,  by  and  between
Nicklebys.com,  Inc., (the "Consignor"), whose offices are located at 12441 West
49th Avenue, Suite #1, Wheat Ridge, Colorado 80033, and Thomas H. Akins Company,
Inc., d/b/a Margaret Smith Gallery (the "Consignee"),  whose offices are located
at 8090 Main Street, Ellicott City, Maryland 21043.

     WHEREAS,  the parties  desire to extend the term of the Agreement  provided
for in  Paragraph  11 of the  Consignment  Agreement  dated  September  1, 2001,
between the parties through December 1, 2001.

     NOW,  THEREFORE,  in  consideration of the foregoing  premises,  the mutual
promises,  covenants,  agreements,  representations  and  warranties  set  forth
hereinafter,  and for other good and  valuable  consideration,  the  receipt and
sufficiency  of which are  hereby  acknowledged,  the  parties  hereto  agree as
follows:

     The  Consignor  and the  Consignee  hereby  agree that  Paragraph 11 of the
Consignment  Agreement dated September 1, 2001,  between the parties,  a copy of
which is attached hereto and  incorporated  herein by this  reference,  shall be
amended so that, as amended,  Paragraph 11. "Term of  Agreement,"  shall read as
follows:

          "The  Agreement  shall  commence  upon the date of  signing  and shall
     continue in effect until December 1, 2001."

     IN WITNESS  WHEREOF,  the parties  hereto have duly  executed and delivered
this Agreement as of the day and year first above written.

CONSIGNOR:                                     CONSIGNEE:

NICKLEBYS.COM, INC.                            THOMAS H. AKINS COMPANY, INC.,
                                               D/B/A MARGARET SMITH GALLERY

By: Bruce A. Capra                             By: Paul Myers
    ------------------------------                 -----------------------------
         Bruce A. Capra, President                         Paul Myers, Secretary

                                        1
<PAGE>

                                  ATTACHMENT A

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Consignor Name                                          Control Number

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Address                                                 Date

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City                  State            Zip              Home Phone

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                                                        Work Phone

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                                        2
<PAGE>ASSET PURCHASE AND SALE AGREEMENT

     THIS ASSET  PURCHASE  AND SALE  AGREEMENT  (hereinafter  referred to as the
"Agreement")  is made and  entered  into  effective  as of the 25th day of June,
1999, by and between Art  Exchange,  Inc., a Colorado  corporation  (hereinafter
referred to as the "Buyer"), 3177 South Parker Road, Aurora, Colorado 80014, and
Museum Auctions,  Ltd., a Colorado corporation  (hereinafter  referred to as the
"Seller"), 3177 South Parker Road, Aurora, Colorado 80014.

                                    RECITALS:

     A.   WHEREAS,  the Seller, a privately-held  Colorado corporation, conducts
business,  primarily,  in the  marketing  and  sale  via  auction  of  consigned
originals and reproductions of fine art, antiques and collectibles.

     B.   WHEREAS, the Seller  desires  to sell,  assign,  transfer,  convey and
deliver to the Buyer,  and the Buyer  desires to  purchase,  acquire and receive
from the  Seller,  certain  assets of the  Seller in  exchange  therefor  of the
consideration  described  in Article IV below,  on the terms and  subject to the
conditions hereinafter set forth.

     NOW,  THEREFORE,  in  consideration of the foregoing  premises,  the mutual
promises,  covenants,  agreements,  representations  and  warranties  set  forth
hereinafter,  and for other good and  valuable  consideration,  the  receipt and
sufficiency  of which are  hereby  acknowledged,  the  parties  hereto  agree as
follows:

                                    ARTICLE I
                                PURCHASE AND SALE
                                -----------------

     Subject to the terms and conditions set forth in this Agreement, the Seller
hereby agrees to sell,  assign,  transfer,  convey and deliver to the Buyer, and
the Buyer hereby agrees to purchase, acquire and receive from the Seller, on the
Closing  Date,  as  defined  in  Article  XII  hereof,   good,   marketable  and
indefeasible title to certain of the Seller's assets, as described in Article II
hereof, free and clear of all security interests, liens, pledges,  restrictions,
charges and encumbrances whatsoever, except as provided in Article II.

                                   ARTICLE II
                                     ASSETS
                                     ------

     A.   The  assets to be sold,  assigned, transferred, conveyed and delivered
to the Buyer shall include the following:

                                        1
<PAGE>

          1.   The name "Museum  Auctions" (to be  available  subsequent  to the
     change of the Seller's name on or prior to the Closing Date).

          2.   The  Seller's  "auction" customer  mailing  list in  the form  of
     Exhibit A attached hereto and incorporated herein by this reference;  which
     list includes some or all of the names on the  "gallery"  customer  mailing
     list which will continue to be utilized by the Seller and/or  affiliates of
     the Seller.

          3.   The non-exclusive right to conduct live auctions of originals and
     reproductions of fine art,  antiques and collectibles  marketed and sold by
     the Seller on  consignment;  for the provision of which services the Seller
     agrees to pay the Buyer auction sales  commissions,  as provided in Article
     XIX hereof,  in the amount of  twenty-five  percent  (25%) of the aggregate
     sales price of all such consigned  goods sold via auction  conducted by the
     Buyer from time-to-time from and after the Closing Date.

These assets (hereinafter,  collectively,  referred to as the "Assets") shall be
sold, assigned, transferred,  conveyed and delivered to the Buyer on the Closing
Date.

     B.   Other than as stated herein,  all other  properties  and assets of the
Seller  shall be  retained  by the  Seller  and shall not be sold,  assigned  or
transferred to the Buyer. Such properties and assets shall be held by the Seller
and be available for distribution to the Seller's shareholders,  and may be used
by the Seller to satisfy its obligations and liabilities to the extent thereof.

                                   ARTICLE III
                           RELATIONSHIP OF THE PARTIES
                           ---------------------------

     Notwithstanding anything to the contrary contained in this Agreement, it is
understood  and agreed  that the  Seller and its  affiliates  are,  directly  or
indirectly,  engaged in certain  businesses  or  activities  including,  but not
limited to, the marketing and sale via auction of originals and reproductions of
fine art, antiques and collectibles  consigned to the Seller,  and no portion of
such other related and unrelated  businesses,  or their respective  assets,  are
being  sold  or  transferred  to the  Buyer  pursuant  to this  Agreement.  This
Agreement shall be ineffective as to such other related and unrelated businesses
and shall not apply in any way to the  operations,  properties  or assets of the
Seller or any  affiliate  of the  Seller  as they  relate  to such  related  and
unrelated  businesses.  Further,  the Buyer is only  purchasing  the  Assets for
purposes  of  conducting  the Buyer's  ongoing  business  activities  and is not
continuing  or assuming the business of the Seller or assuming any  liability or
liabilities  of the  Seller  arising  from or in  connection  with the  Seller's
business,  nor commencing a merger or other  consolidation with the Seller. This
Agreement is one of purchase and sale of the Assets only, and does not and shall
not  be  deemed  to  create  a  partnership,   joint  venture  or  other  agency
relationship  between the parties, or result in a merger, de facto merger or any
other type of combination of the Seller with or into the Buyer.  Notwithstanding
the foregoing,  the Seller agrees that all auctions conducted from and after the
Closing  Date  through  the Buyer  shall be  conducted  in  accordance  with the
provisions of Article XVIII hereof.

                                        2
<PAGE>

                                   ARTICLE IV
                                 PURCHASE PRICE
                                 --------------

     The total  purchase  price for the Assets  shall be $100.00  payable by the
Buyer to the Seller on the  Closing  Date.  The Seller and the Buyer  agree that
this Agreement is indivisible and may not be fractionalized even though separate
considerations may be stated for the Assets.

                                    ARTICLE V
                              TAXES AND ASSESSMENTS
                              ---------------------

     The Seller shall be  responsible  for and pay all taxes and  assessments in
connection  with the Assets for the period prior to the Closing Date.  The Buyer
shall be responsible  for and pay all taxes and  assessments in connection  with
the Assets for the period on and after the Closing Date.

                                   ARTICLE VI
                          NO ASSUMPTION OF LIABILITIES
                          ----------------------------

     The Buyer shall assume no debts,  liabilities  or obligations of the Seller
arising  with respect to periods  prior to or  subsequent  to the Closing  Date.
Anything  herein to the contrary  notwithstanding,  the Seller  hereby agrees to
retain and  discharge,  and to indemnify  and hold the Buyer  harmless  from and
against, any and all debts,  liabilities and obligations of the Seller, whenever
arising.

                                   ARTICLE VII
                          THE SELLER'S REPRESENTATIONS
                          ----------------------------

     The Seller hereby represents, warrants, covenants and agrees that:

     A.   The Seller  is a corporation  duly organized,  validly existing and in
good standing  under the laws of the State of Colorado and is duly  qualified to
transact business as a corporation in the State of Colorado.  The Seller has all
requisite corporate power and authority to own and operate its properties and to
carry on its business as now and where being conducted.  The Seller is qualified
to transact  business  as a foreign  entity in all states in which the nature of
its  business  or the  character  or  ownership  of  its  properties  make  such
licensing, registration or qualification necessary.

     B.   The execution  and delivery of this  Agreement by the Seller have been
duly and validly  authorized and approved by all necessary action of the Seller.
The Seller has full  corporate  power and authority and the legal right to enter
into this Agreement and to consummate the transactions contemplated herein. This
Agreement is a valid and binding obligation of the Seller,  enforceable  against
the Seller in accordance with its terms.

                                        3
<PAGE>

     C.   On the Closing Date, the Seller shall have full legal power, right and
authority  to sell and  convey to the Buyer  legal and  beneficial  title to the
Assets and the Seller's sale to the Buyer shall  transfer  good,  marketable and
indefeasible  title thereto,  free and clear of all security  interests,  liens,
pledges,  charges  and  encumbrances  except  for  liens  for  taxes  and  other
governmental charges not yet due and payable.

     D.   The  Seller has  all licenses,  permits,  operating authorizations and
other agreements and approvals from  governmental  authorities  necessary to own
and operate the Seller's  business lawfully and in the manner in which it is now
operated by the Seller.  The Seller has not received  notice of any violation of
or default  under,  and is in  substantial  compliance in all material  respects
with,  each such  license,  permit,  operating  authorization  or approval  from
governmental authorities.

     E.   The Seller's business has been operated in substantial compliance with
all applicable local, state and Federal laws.

     F.   The  execution, delivery  and performance  of this  Agreement  by  the
Seller will not violate any  provisions of law and will not, with or without the
giving of notice or the passage of time,  conflict  with or result in any breach
of any of the  terms or  conditions  of, or  constitute  a  default  under,  any
mortgage,  agreement  or other  instrument  to which the Seller is a party or by
which  the  Seller  or  the  Assets  are  bound.  The  execution,  delivery  and
performance  of this  Agreement  will not result in the creation of any security
interest, lien, pledge, charge or encumbrance upon the Assets or the Seller.

     G.   There is no outstanding  judgment  against  the Seller and there is no
litigation,  arbitration,  proceeding  or  investigation  pending,  or,  to  the
Seller's  knowledge,  threatened against the Seller relating to or affecting the
Assets,  the  Seller's  business  operations  or  affairs,  the  Seller  or  the
transactions  contemplated by this Agreement, or which questions the validity of
any action taken or to be taken pursuant to or in connection with the provisions
of  this  Agreement.  The  Seller  warrants  and  represents  that  there  is no
litigation  matter or arbitration claim or demand for money damages which exists
or may exist as of the Closing Date.  There are no proceedings  pending to which
the Seller is a party or, to the Seller's  knowledge,  are  threatened,  nor any
demands by any  governmental  agency or other  party,  to  terminate,  modify or
materially and adversely  change the terms and conditions of the Seller's rights
with respect to the Assets.

     H.   The Seller  is not a party  to any  employment  agreement,  collective
bargaining agreement, pension, profit sharing, retirement, deferred compensation
or bonus or stock purchase plan relating to the Seller's employees for which the
Buyer  shall  have  any  obligation  or  liability.  There  are no  disputes  or
controversies  pending or, to the Seller's knowledge,  threatened with or by any
employees of the Seller which would  materially and adversely  affect any of the
Assets.  The Seller does not have in effect, or have any obligation to establish
or contribute to, any plan, fund or program  covered by the Employee  Retirement
Income  Security Act of 1974,  as amended  ("ERISA"),  for which the Buyer shall
have any obligation or liability.

     I.  The Seller has paid all taxes, assessments,  governmental  charges  and
penalties  due and  payable  by it,  and there are no  suits,  actions,  claims,

                                        4
<PAGE>

investigations,  inquiries or proceedings pending or, to the Seller's knowledge,
threatened against the Seller in respect of any taxes, assessments, governmental
charges or penalties.

     J.   The Seller has good and marketable title to all of its  properties and
assets, real and personal,  except as since sold or otherwise disposed of in the
ordinary course of business,  and the Seller's properties and assets are subject
to no mortgage,  pledge,  lien or  encumbrance  with respect to which no default
exists  as of the date  hereof  and as of the  Closing.  The  Seller  will  have
continuing  business after this transaction,  and shall make adequate  provision
for  payment  of any  liabilities  of the Seller  arising  prior to or after the
Closing Date.

     K.   No representation  or warranty  by the  Seller,  or any  statement  or
certificate  furnished  by  the  Seller  to  the  Buyer  pursuant  hereto  or in
connection with the transactions  contemplated hereby,  contains or will contain
any  untrue  statement  of a  material  fact or  omits  or will  omit to state a
material fact necessary to make the statements contained therein not misleading.

     The  Seller   acknowledges  that  the  Buyer  is  relying  upon  the  above
representations,  warranties  and agreements in entering into this Agreement and
proceeding to Closing.

                                  ARTICLE VIII
                           THE BUYER'S REPRESENTATIONS
                           ---------------------------

     The Buyer hereby represents, warrants, covenants and agrees that:

     A.   The Buyer  is a corporation  duly organized,  validly  existing and in
good standing  under the laws of the State of Colorado and is duly  qualified to
transact  business as a corporation in the State of Colorado.  The Buyer has all
requisite corporate power and authority to own and operate its properties and to
carry on its business as now and where being  conducted.  The Buyer is qualified
to transact  business  as a foreign  entity in all states in which the nature of
its  business  or the  character  or  ownership  of  its  properties  make  such
licensing, registration or qualification necessary.

     B.   The  execution and  delivery of this Agreement  by the Buyer have been
duly and validly  authorized and approved by all necessary  action of the Buyer.
The Buyer has full  corporate  power and  authority and the legal right to enter
into this Agreement and to consummate the transactions contemplated hereby. This
Agreement is a valid and binding  obligation of the Buyer,  enforceable  against
the Buyer in accordance with its terms.

     C.   The  Buyer has  all licenses,  permits, operating  authorizations  and
other agreements and approvals from  governmental  authorities  necessary to own
and operate the Buyer's  business  lawfully and in the manner in which it is now
operated by the Buyer.  The Buyer has not received notice of any violation of or
default under, and is in substantial  compliance in all material  respects with,
each such license, permit, operating authorization or approval from governmental
authorities.

                                        5
<PAGE>

     D.   The Buyer's business has been operated in substantial compliance  with
all applicable local, state and Federal laws.

     E.   The execution, delivery and performance of this Agreement by the Buyer
will not violate any  provisions of law and will not, with or without the giving
of notice or the passage of time,  conflict  with or result in any breach of any
of the terms or  conditions  of, or  constitute a default  under,  any mortgage,
agreement  or other  instrument  to which  the  Buyer is a party or by which the
Buyer is bound.

     F.   There is no outstanding  judgment  against  the  Buyer and there is no
litigation, arbitration, proceeding or investigation pending, or, to the Buyer's
knowledge,  threatened against the Buyer or relating to or affecting the Buyer's
business  operations or affairs,  the Buyer or the transactions  contemplated by
this  Agreement,  or which  questions  the validity of any action taken or to be
taken pursuant to or in connection  with the provisions of this  Agreement.  The
Buyer warrants and represents that there is no litigation  matter or arbitration
claim or demand for money  damages  which  exists or may exist as of the Closing
Date.

     G.   The Buyer is not in default under any employment agreement, collective
bargaining agreement, pension, profit sharing, retirement, deferred compensation
or bonus or stock  purchase  plan relating to the Buyer's  employees.  The Buyer
does not have in effect,  or have any  obligation to establish or contribute to,
any plan, fund or program  covered by ERISA,  for which the Buyer shall have any
obligation or liability.  There are no disputes or controversies  pending or, to
the Buyer's  knowledge,  threatened  with or by any employees of the Buyer which
would materially and adversely affect the Buyer's business.

     H.   The Buyer has paid all taxes,  assessments, governmental  charges  and
penalties  due and  payable  by it,  and there are no  suits,  actions,  claims,
investigations,  inquiries or proceedings  pending or, to the Buyer's knowledge,
threatened against the Buyer in respect of any taxes, assessments,  governmental
charges or penalties.

     I.   The Buyer hasgood and  marketable title to all of its  properties  and
assets, real and personal,  except as since sold or otherwise disposed of in the
ordinary course of business,  and the Buyer's  properties and assets are subject
to no mortgage,  pledge,  lien or  encumbrance  with respect to which no default
exists as of the date hereof and as of the Closing.

     J.   No representation  or  warranty  by the  Buyer,  or any  statement  or
certificate  furnished  by  the  Buyer  to  the  Seller  pursuant  hereto  or in
connection with the transactions  contemplated hereby,  contains or will contain
any  untrue  statement  of a  material  fact or  omits  or will  omit to state a
material fact necessary to make the statements contained therein not misleading.

     The  Buyer   acknowledges  that  the  Seller  is  relying  upon  the  above
representations,  warranties  and agreements in entering into this Agreement and
proceeding to Closing.

                                   ARTICLE IX
               THE SELLER'S AND THE BUYER'S AFFIRMATIVE COVENANTS
               --------------------------------------------------

                                        6
<PAGE>

     A.   The Seller covenants  and agrees that from and after the execution and
delivery of this Agreement to and including the Closing Date:

          1.   The Seller  shall give the Buyer and its  representatives  access
     during normal business hours to the properties comprising the Assets and to
     the relevant  books and records of the Seller  concerning  the Assets,  and
     furnish the Buyer with such relevant  information  concerning the Assets as
     the Buyer may  reasonably  request.  The Buyer  agrees not to  disturb  the
     normal  operations  of the  Seller  and  further  agrees  that  any and all
     information received from the Seller shall be treated as confidential.

          2.   The Seller shall conduct its business only in the ordinary course
     and shall  use its  reasonable  efforts  to  preserve  intact  its  assets,
     properties  and business,  including,  but not limited to,  maintaining  in
     effect the casualty and  liability  insurance on the Assets  heretofore  in
     force and complying with applicable  Federal,  state and local laws,  rules
     and  regulations  and pertinent  provisions of all contracts,  licenses and
     other  agreements to which it is a party or is otherwise  bound. The Seller
     shall make adequate provision for payment of its liabilities  arising prior
     to or after the Closing Date for which  liabilities the Buyer shall have no
     responsibility or liability.

          3.   The Assets shall not be sold,  transferred, conveyed or otherwise
     disposed of without the prior written consent of the Buyer.

     B.   Each party  hereto  will  keep  confidential  any  financial  or other
confidential  information  obtained from the other party in connection  with the
transactions contemplated by this Agreement except for such disclosure as may be
necessary in the consummation hereof,  including any necessary disclosure by the
Buyer to its investors or lenders.  In the event the Agreement is terminated and
purchase and sale contemplated  hereby abandoned,  each party will return to the
other party all documents, work papers and other written material obtained by it
in connection with this transaction.

                                    ARTICLE X
            CONDITIONS PRECEDENT TO THE BUYER'S OBLIGATIONS TO CLOSE
            --------------------------------------------------------

     The  obligations  of the Buyer  under this  Agreement  with  respect to the
purchase and sale of the Assets shall be subject to the  fulfillment on or prior
to the Closing Date of each of the following conditions:

     A.   All of the representations  and  warranties by the Seller contained in
this Agreement  shall be true and correct in all material  respects at and as of
the Closing  Date and shall  survive  the  Closing  Date for a period of six (6)
months.  The Seller  shall have  complied  with and  performed  in all  material
respects  all of the  agreements,  covenants  and  conditions  required  by this
Agreement  to be  performed  or  complied  with by it on or prior to the Closing
Date. The Buyer shall have been furnished with a certificate of the President or

                                        7
<PAGE>

any Vice  President of the Seller,  dated the Closing  Date,  certifying  to the
fulfillment of the foregoing conditions.

     B.   The Seller shall have delivered a copy, certified by the  Secretary of
Seller,  of the  resolution  adopted by the Board of Directors of the Seller and
authorizing the execution,  delivery and performance of this Agreement on behalf
of the Seller and the consummation of the transactions contemplated hereby.

     C.   There shall not have been instituted  by any creditor of the Seller or
other  third  party any suit or  proceedings  to  restrain  or  invalidate  this
transaction  or seeking  damages  from or to impose  obligations  upon the Buyer
which, in the Buyer's judgment,  reasonably exercised,  would involve expense or
lapse of time that would be materially adverse to the Buyer's interest.

     D.   There  shall  not  have  been  suffered (after  the date  hereof)  any
casualty or loss,  whether or not covered by  insurance,  which  materially  and
adversely  affects the Assets;  provided  that if the Buyer elects to waive such
condition to its obligations under this Agreement,  the provisions of Article XV
hereof shall be applicable to the  insurance  proceeds and other rights  against
third parties, if any, resulting from such casualty or loss.

                                   ARTICLE XI
            CONDITIONS PRECEDENT TO THE SELLER'S OBLIGATION TO CLOSE
            --------------------------------------------------------

     The  obligations  of the Seller  under this  Agreement  with respect to the
purchase and sale of the Assets shall be subject to the  fulfillment on or prior
to the Closing Date of each of the following conditions:

     A.   All  of the representations and warranties by the  Buyer contained  in
this Agreement  shall be true and correct in all material  respects at and as of
the Closing  Date and shall  survive  the  Closing  Date for a period of six (6)
months.  The Buyer  shall  have  complied  with and  performed  in all  material
respects  all of the  agreements,  covenants  and  conditions  required  by this
Agreement  to be  performed  or  complied  with by it on or prior to the Closing
Date.  The Seller shall have been  furnished with a certificate of the President
or any Vice  President of the Buyer,  dated the Closing Date,  certifying to the
fulfillment of the foregoing conditions.

     B.   The  Buyer shall have delivered a copy, certified by the  Secretary of
the Buyer, of the resolution  adopted by the Board of Directors of the Buyer and
authorizing the execution,  delivery and performance of this Agreement on behalf
of the Buyer and the consummation of the transactions contemplated hereby.

     C.   The Buyer shall have  delivered the purchase price in  accordance with
Article IV hereof.

     D.   There  shall  not have occurred  any  material  adverse  change in the
operations,  assets,  liabilities,  business,  results of  operation,  condition
(financial or otherwise) or prospects of the Buyer, or any event or circumstance
which  materially  and adversely  affects or may affect the  operation,  assets,

                                        8
<PAGE>

liabilities, business, results of operations, condition (financial or otherwise)
or prospects of the Buyer.

                                   ARTICLE XII
                                     CLOSING
                                     -------

     The closing hereunder  (hereinafter  referred to as the "Closing") shall be
held in the offices of the Seller,  3177 South  Parker  Road,  Aurora,  Colorado
80014, on March 19, 1999 (hereinafter  referred to as the "Closing Date"), or on
such other date and at such other place as the  parties  hereto  shall  mutually
agree. At the Closing, all cash, checks,  customer mailing lists, bills of sale,
assignments,  certificates of title and other instruments and documents referred
to or contemplated by this Agreement shall be exchanged by the parties hereto.

     A.   At the Closing, the Buyer shall receive from the Seller the following:

          1.   A  bill  of sale  and/or assignments or certificates of title for
     the Assets as described in Article II, section A;

          2.   Documentary  evidence  (such as  Articles  of  Amendment  to  the
     Articles of Incorporation of the Seller changing the Seller's name with the
     date stamp of the Secretary of State affixed thereto  indicating the filing
     thereof)  satisfactory  to  counsel to the Buyer  indicating  that the name
     "Museum Auctions" is available to the Buyer;

          3.   Copies  of the  Seller's  "auction"  customer  mailing list as in
     effect on the Closing Date;

          4.   Agreement for Auction  Sales  Commissions  as provided in Article
     XVIII hereof;

          5.   The  Certificate  of the  Seller's  President  certifying  to the
     matters set forth in Article X, section A, hereof; and

          6.   Resolution  of the Board of Directors of the Seller as  described
     in Article X, section B.

     B.   At the Closing, the Seller shall receive from the Buyer the following:

          1.   Cash or check as provided in Article IV;

          2.   The  Certificate  of  the  Buyer's  President certifying  to  the
     matters set forth in Article XI, section A, hereof; and

          3.   Resolution of the Board of Directors of the Buyer as described in
     Article XI, section B, hereof.

     C.   The Seller  and the  Buyer  shall  provide  the other with such  other
documents as, in the reasonable  judgement of either of them or their respective
counsels,  may be material to the Closing of the  transactions  contemplated  by
this Agreement.

                                        9
<PAGE>

                                  ARTICLE XIII
                               TERMINATION RIGHTS
                               ------------------

     This Agreement may be terminated by either the Buyer or the Seller,  if the
terminating  party is not  then in  breach  of any  material  provision  of this
Agreement, upon written notice to the other party, upon the occurrence of any of
the following:

     A.   If,  on  the  Closing  Date, any of the  conditions  precedent  to the
obligations of the parties set forth in this Agreement have not been  materially
satisfied by the  responsible  party or waived in writing by the other party for
whose benefit the condition is imposed.

     B.   If the Closing does not occur on or before July 19, 1999.

(i) Upon  termination,  if  neither  party  hereto is in breach of any  material
provision of this Agreement,  the parties hereto shall have no further liability
to each other,  (ii) if the Seller shall be in breach of any material  provision
of this  Agreement,  the Buyer shall be  entitled  to such  rights and  remedies
provided in this Agreement or in any agreement  executed in connection with this
Agreement  or at law or in equity,  or (iii) if the Buyer  shall be in breach of
any material  provision of this Agreement,  the Seller shall be entitled to such
rights and remedies  provided in this Agreement or in any agreement  executed in
connection with this Agreement or at law or in equity.

                                   ARTICLE XIV
                                    BROKERAGE
                                    ---------

     Each party  hereto  represents  and warrants to the other party that it has
not incurred any  obligations  or  liabilities,  contingent  or  otherwise,  for
brokerage  or  finder's  fees or agent's  commissions  or other like  payment in
connection with this Agreement or the transactions contemplated hereby for which
either party will have any liability.  Each party hereto agrees to indemnify and
hold the other party hereto harmless  against and in respect of any breach by it
of the provisions of this Article XIV.

                                   ARTICLE XV
                                 CASUALTY LOSSES
                                 ---------------

     In addition to any other remedy the Buyer may have hereunder,  in the event
that there shall have been suffered between the date hereof and the Closing Date
any  casualty  or loss  relating  to the Assets  which does not  materially  and
adversely  affect the business of the Seller,  then at the Closing all claims to
insurance  proceeds or other rights of the Seller against third parties  arising

                                       10
<PAGE>

from such  casualty  or loss  shall (to the  extent  assignable)  be  separately
assigned by the Seller to the Buyer,  for its own account  and  benefit,  in the
name of the Seller.

                                   ARTICLE XVI
                                    INDEMNITY
                                    ---------

     A.   Notwithstanding  the Closing, the  Seller  agrees to indemnify  and to
hold the Buyer  harmless from and against and in respect of any losses  incurred
by the Buyer and from:

          1.   All  actual  or  purported  liabilities and  obligations  of  the
     Seller,  and all claims and demands made in respect  thereof whether or not
     known or asserted at or prior to the Closing  Date  relating to, or arising
     from, ownership, operation or control of the Assets at or prior to Closing,
     the conduct of the business of the Seller or any other state of facts which
     existed at or prior to the Closing Date;

          2.   Any damage or deficiency resulting  from any  misrepresentations,
     breach of warranty or  non-fulfillment  of any agreement or covenant on the
     part of the Seller under this Agreement,  or from any  misrepresentation in
     or  omission  from any  exhibit  or  other  instrument  furnished  or to be
     furnished to the Buyer hereunder; and

          3.   Any claims made by creditors or  customers of the Seller relating
     to the  ownership  or operation  of the  Seller's  business  not  expressly
     assumed hereunder.

     B.   Notwithstanding  the  indemnities provided  in Article XVI, section A,
the Buyer shall be  responsible  for and pay all costs and expenses  incurred by
the Buyer attendant to efforts to dismiss or remove it from any action, claim or
controversy  prior to any trial or hearing on the  matter,  whether by motion to
dismiss,  motion for summary judgment or other similar motion, on the basis that
the Buyer is not a successor in liability to the claims  against or debts of the
Seller.  The Seller's  indemnity as provided in Article XVI, section A, shall be
for any costs or  expenses  beyond  such  motion to remove  the Buyer  from such
action and for the amount of any judgment or award  rendered  against the Buyer.
Such indemnity shall be paid directly by the Seller.

     C.   In  the event that the Buyer does not succeed in being  dismissed from
an action as provided in Article XVI,  section B, the Buyer shall  appoint a two
person  litigation  committee  to oversee the conduct of any hearing or trial on
the matter.  Such committee shall consist of two members of the Buyer's Board of
Directors.  Decisions  concerning any such action,  including  settlement of the
claim or controversy,  shall be made by the litigation committee. If no decision
can be reached,  the members  will agree to designate a third party to make such
decision.

     D.   Notwithstanding the Closing, the Buyer agrees to indemnify and to hold
the Seller  harmless  from and against and in respect of any losses  incurred by
the Seller from any damage or deficiency  resulting from any  misrepresentation,
breach of warranty or  non-fulfillment  of any agreement or covenant on the part

                                       11
<PAGE>

of the Buyer under this Agreement,  or from any misrepresentation in or omission
from any exhibit or other instrument  furnished or to be furnished to the Seller
hereunder.

                                  ARTICLE XVII
                                   USE OF NAME
                                   -----------

     The Seller  agrees to take any and all  action  deemed by the  parties  and
their legal counsel to be necessary or  appropriate,  prior to the Closing Date,
to release  all rights to the use of the name  "Museum  Auctions."  Such  action
shall  include,  but not be  limited  to,  the  filing  by the  Seller  with the
Secretary  of State of  Colorado of Articles  of  Amendment  to the  Articles of
Incorporation  of the Seller  causing  the name of the Seller to be changed to a
name entirely  different from the name "Museum Auctions."  Additionally,  at the
Closing, the Seller shall deliver to the Buyer an assignment or other instrument
or document  which shall be  acceptable  to both parties and their legal counsel
providing  for the transfer to the Buyer of any and all rights to the use of the
name "Museum Auctions."

                                  ARTICLE XVIII
                         AGREEMENT FOR SALES COMMISSIONS
                         -------------------------------

     At the  Closing,  the Buyer  hereby  agrees to execute  and  deliver to the
Seller,  simultaneously with the execution and delivery of this Agreement,  that
certain  Agreement  for  Auction  Sales  Commissions  in the form of  Exhibit  C
attached hereto and incorporated herein by this reference, which provides, among
other things,  for the Seller to pay to the Buyer auction sales  commissions  in
the amount of  twenty-five  percent  (25%) of the  aggregate  sales price of all
consigned  goods  marketed and sold by the Seller via live auction  conducted by
the Buyer from time-to-time from and after the Closing Date.

                                   ARTICLE XIX
                                  MISCELLANEOUS
                                  -------------

     A.   From  time-to-time  after  the  Closing Date,  the  Seller s hall,  if
requested by the Buyer,  make,  execute and deliver to the Buyer such additional
bills of sale, assignments and other instruments of transfer as may be necessary
or proper to transfer to the Buyer all of the Seller's right, title and interest
in and to the Assets covered by this Agreement.

     B.   All notices and other communications required or permitted to be given
hereunder  shall be in  writing  and shall be deemed to have been duly  given if
delivered or mailed,  registered or certified  mail,  return receipt  requested,
postage prepaid, to the following addresses:

          1.   If to the Buyer, to:

               Art Exchange, Inc.
               3177 South Parker Road
               Aurora, Colorado  80014

                                       12
<PAGE>

               Attn:    Mr. Paul J. Zueger, President

               With a copy to:

               Mark Shaner, Esq.
               3177 South Parker Road
               Aurora, Colorado  80014

          (b)  If to Buyer, to:

               Museum Auctions, Ltd.
               3177 South Parker Road
               Aurora, Colorado  80014

               Attn:  Mr. Paul J. Zueger, President

               With a copy to:

               Mark Shaner, Esq.
               3177 South Parker Road
               Aurora, Colorado  80014

Notices  delivered   personally  shall  be  effective  upon  delivery.   Notices
transmitted by facsimile shall be effective when received.  Notices delivered by
registered  or  certified  mail shall be  effective on the date set forth on the
receipt of registered or certified  mail, or  seventy-two  hours after  mailing,
whichever is earlier.

     C.   All  agreements  made  and  entered  into  in   connection  with  this
transaction  shall be  binding  upon and  inure to the  benefit  of the  parties
hereto, their successors and assigns.

     D.   The Seller and the Buyer shall  each bear its own expenses  and costs,
including the fees of any attorney  retained by it,  incurred in connection with
the  preparation  of this  Agreement and the  consummation  of the  transactions
hereby.

     E.   Any  sales, use, transfer or documentary  taxes imposed  in connection
with the sale and delivery of the Assets and rights  acquired by the Buyer under
this Agreement shall be paid by the Buyer.

     F.   This Agreement  and the  exhibits attached  hereto  contain the entire
agreement among the parties and supersede all prior  agreements,  understandings
and writings  among the parties with  respect to the subject  matter  hereof and
thereof.  Each party hereto acknowledges that no  representations,  inducements,
promises or agreements,  verbal or otherwise, have been made by either party, or
anyone acting with  authority on behalf of either party,  which are not embodied
herein  or in an  exhibit  hereto,  and that no other  agreement,  statement  or
promise may be relied upon or shall be valid or binding.  Neither this Agreement
nor any term hereof may be changed,  waived,  discharged or terminated verbally.

                                       13
<PAGE>

This  Agreement  may be  amended  or any term  hereof  may be  changed,  waived,
discharged  or  terminated  by an  agreement  in writing  signed by both parties
hereto.

     G.   This Agreement  may be  executed in one or more  counterparts, each of
which when so executed  shall be an original,  but both of which  together shall
constitute one agreement.

     H.   If any  provision of this  Agreement or the application thereof to any
person or  circumstance  shall be invalid or  unenforceable  to any extent,  the
remainder  of this  Agreement  and the  application  of such  provision to other
persons or circumstances  shall not be affected thereby and shall be enforced to
the greatest extent permitted by law.

     I.   This Agreement shall be construed and enforceable in accordance  with,
and be governed by, the internal laws of the State of Colorado without regard to
the principles of conflict of law.

     IN WITNESS  WHEREOF,  the parties  hereto have duly  executed and delivered
this Agreement as of the day and year first above written.

                                                  BUYER:
                                                  ART EXCHANGE, INC.

                                                  By: /s/ Paul J. Zueger
                                                      --------------------------
                                                       Paul J. Zueger, President

                                                  SELLER:
                                                  MUSEUM AUCTIONS, LTD.

                                                  By: /s/ Paul J. Zueger
                                                      --------------------------
                                                       Paul J. Zueger, President

                                       14
<PAGE>

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