- President’s Letter
- Editor’s Note
- Chapters: Washington DC, Southern California
- Interview with Ben PetersMax Rutherston
- Kiseruzutsu Revealed: Pipe Case BlanksMilton Stratos
- Discovering SoshianGiovanni Rimondi
- Auctions
- Koller – Asian Art, ZürichChristophe Carré
- Reflections on Lempertz’s Summer Asian Art SaleDmitry Tubis
- Galerie Zacke – Fine Netsuke & Sagemono, ViennaDieuwke Eijer
- 50th Year Anniversary
- The London Netsuke Market & Its Golden YearsRosemary Bandini
- Norman Sandfield, In MemoriamMarsha Vargas Handley
Cover: Sanko, Ikkaku Sennin carrying the Lady of Benares, late 18th c., unsigned.