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I am writing this from a position of extreme gratitude. To all of world. While I am biased, I truly believe it is the finest brick—and—mortar
our clients, I want to say thank you for your passion. Your enthusiasm, auction facility in the world. More importantly, the continued success
your energy, your study, your relentless pursuit of all things fine and of RIAC is tied to the continued success of this marketplace. It reflects
historic firearms collecting, is what allows us to make a living. Your the growth of this marketplace both in terms of new collectors and also
passion and love are contagious, and please know we love it too. RIAC is in the sense of “gun collecting” coming of age, whereas these objects of
committed, more than ever, to advance and grow the many fields of fine and extreme rarity, extreme condition and enormous historic significance are
historic arms collecting in everything we do. Thank you for your business. starting to command the attention and respect we believe they deserve.

To the more than 2,000 individual consignors from 2024, thank you for Our thesis is simple: fine and historic arms, in every sense, are
the opportunity to do business. I routinely write about the responsibility, underappreciated and undervalued, as a general field among
more appropriately the responsibilities that come with a consignment. It is decorative arts. Furthermore, these objects are a burgeoning alternative
our core obligation to do the individual objects justice, to do the collection hard asset investment class, prime for a diversified portfolio.
justice and to preserve and celebrate a collector’s legacy. Nobody understands
theweight of that responsibility more than RIAC. Thankyou foryour trust. Cheers to 2024. Thank you for great year. We have some

exciting new things happening right out of the chute in 2025.

2024 was another historic and record—breaking year for our firm,
our fourth consecutive year with annual sales over $100 million. Wishing you and yours a happy, healthy and prosperous New Year.
This truly humbling feat would not have been possible without the
best team in the business. Like any good organization, our people
are our strength. Their work ethic, attitude, tenacity and energy——
better known as grit—— have no limitations. Thank you for your grit. V T

/

I have never been more confident or excited about the future of
RIAC and the future of this marketplace. This past December’s premier I ” ' '
auction marked the one—year anniversary of our brand nevsx state—of— Respecqrullyl
the—art facihty in Bedford, Texas. It has proven to be the selling venue Kevin R Hogan
of our dreams, the flagship of the fine and historic firearms collecting president’ Rock [3-[andAuCt,'0n Company