New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-09-06
INVESTING IN ART.
Rugs and Other Things Which
ISteadiIy GrOzC IN Talae.

1T is a sign Of the times that contractors in
New-York are building houses in recent years to
high as from 100000 to $500 OOO'' says Ralph
ID. Paine in The Worlds Work" In other
city time would contractors dare to build
houses for the general market. hoping to sell
them for more than $4,000 but whereas a
half century ago the furnishing Of the wealthiest
homes was characterized by mOnstrOus ugliness
a single generation has seen a revolution in
American taste Even until decade ago the
acquisition Of costly collections in art was con-
fined to paintings and the ruling spirit was TO
get the most display for the greatest outlay.
with few notable exceptions. Little by little
a group Of milliOnares found time and inClina-
ton 10 appreciate or to value pOrCelains, rugs.
tapestries and gems. 1t is common for
plutocrat of this era to spend SlOOOOUO in
furnishing his home. and the ableSt experts sell
their services to insure the highest standard OF
taste.
An American millionaire paid 100000 for
three tapestries to fit wall in his newly erected
palace Another set of three pieces Of tapestry
was sold for 100000 to adOrn an American
home. The wife of another American paid SI2J.-
900 for set of furniture not long ago. and there
only four pieces. Their value was in the
tapestry upkOlsterinS. In a shop in Paris there
are three panels Of tapestry for which 100000
each is asked. The dealer has agent in this
country. who is confident of finding purchaser
soon as he finds the millionaire who wants
costly tapestries. At the sale of the MarqUaud
collection last winter a rug was sold for $4,000
1t is supposed to have been bought by q dealer
who will hold it until he finds n purchaser will
ing to pay SIJUDU or even 100000 for the
treasure. senator Clark. or Montana, mas n col
lection of rugs among the furnishings of his
home for which he paid at lowest estimate
$2J0OO0 transformations Philadelphia fur
nish list OF S1.OtDOOO worth of paintings in
twenty-five frames hanging in the private gal
leries Of her millionaire collectors
In Fifth-ave. there are perhaps dozen in
conspicuous shops which deal almost exclusively
with the very rich. The owner Of one Of these
said recently:
There not more n an one hundred and
fifty men in the United States whom I can fairly
class as possible customers OF mine. If L
get two of them regular customers / Will ask
no other patronage. IL is true that some
millionaires buy that they may shine in the
Hected glory of their treasures. And as a class
they have come to recognize the fact that there
is no safer investment from business stand
point than fine paintings. rugs. tapestries. porce-
lalns and antiques in general when picked by
experts. They buy on a rising market. for the
demands of American luxury are eXhausting the
treasures of the Old World IL Is a business
estimate that any collection wisely chosen and
in value at an average rate of . per cent a year
or the interest on the Investment. 10 is still
characteristic of many wealthy Americans that
small objects even if they be priceless from the
collectors viewpoint. are not bought for their
own sake. because they cannot be displayed with
impressive effect. This includes antique coins,
medals. carvings, small tapestries and laces.'
This is not wholly true of precious stones for
the American demand has raised prices in the
worlds market for certain FINDS OF gems. one
on the leading gem collectors Of this country
who buys to sell again has sold to man in
Boston more than 81 .ONlOOD worth of precious
stones, treasures that are never seen outside his
own home For a single ruby $40 OGO has been
paid by an American collector and a dealer
who asked 100000 for another ruby found a
purchaser in Ncw-York. In less than ten years
the increase in the value of diamonds and other
precious stones imported into the United States
has been fairly phenomenal advancing from
S1J, 16S. 146 in 1893 to $2JfI2176 or 66 per cent
in this brief period. during which the population
increased less than - per cent The increase
last year over these imports for 1901