The silver messenger. (Challis, Idaho) 1890-1912, 1903-12-15
INVESTING IN ART.
Rugs and Other Articles Which
Steadily Increase in Value.
Revelation in American Taste ShOwR
in Homes of Wealthy New York
ers-FabuIOus Prices for
Tapestries.


1T is a sign OF the times that contrac-
tors in New York are building houses in
recent years to sell to chance customers
at prices ranging as high as from $780,
900 to $500, 000," says Ralph d. Paine in
Worlds Work. I'm no other city or time
would contractors dare to build houses
for the general market, hoping to sell
them for more than 100000; but
whereas a half century ago the furnish
ing Of the wealthiest homes was charac-
terized by monstrous ugliness single
generation has seen a revolution in
American taste. Even until a decade
ago the acquisition of costly collections
in art was confined to paintings, and the
ruling spirit was to get the most display
for the greatest outlay with few nota-
BILE exceptions. Little by little a group
OF millionaires found time and inclina-
ton to appreciate or to value porcelains.
rugs, tapestries and gems. 1t is common
for a plutocrat Of this era to spend
s1,000,000 in furnishing his home. and
the ablest experts sell their services to
insure the highest standard of taste.
IAN American millionaire paid $780,
900 for three tapestries to fit a 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
$125.000 for set OF furniture not long
ago. and there were only four pieces.
Their value was in the tapestry uphol-
STEERING. In shop in Paris there are
three panels of tapestry for which $780,
000 each is asked The dealer has an
agent in this country, who is confident
OF finding a purchaser as soon as he
finds the millionaire who wants costly
tapestries. At the sale OF the Marquand
collection last winter rug was sold for
$4,000. 1t is supposed TO have been
bought by dealer who will hold it I'M
I'll he finds q purchaser willing to pay
$4,000 or even 100000 for the treasure.
Senator Clark. of Montana. has a col
lection Of rugs among the furnishings
of his home for which he paid at lowest
estimate $250,000 transformations Phil
adelphia can furnish list of 81 900 900
worth Of paintings in Is frames hanging
in the private galleries Of her million
aire collectors.
In Fifth avenue there are perhaps a
dozen inconspicuous shops which deal
almost exclusively with the very rich.
The owner OF one of these said recently:
There are not more than $50 men in
the Unlted States whom / can fairly
class as possible customers OF mine. IL
/ can get two OF them as regular GUS
toners | will ask no other patronage.
| 1t is true that some millionaires buy
that they may shine in the reflected
| glory of their treasures. And as class
they have come to recognize the fact
! that there is no safer investment from
q business standpoint than fine paint
! ings, rugs, tapestries, porcelains and
antiques in general when picked by ex-
perts. They buy on rising market, for
| the demands Of American luxury are ex-
! hausting the treasures of the old world
| 1t is business estimate that any collec-
ton wisely chosen and not bought for
extortionate figures will increase In
value at an average rate of four per cent
year, or the interest on the invest
ment. 1t is still characteristic of many
wealthy Americans that small objects.
even IL they be priceless from the coll
lector's viewpoint, are not bought for
their own sake, because they cannot be
displayed with impressive effect. This
includes antique coins, medals. cary
irgs, 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 kinds of gems One of the lead
ing gem collectors OF this country, who
buys to sell again. has sold to one man
in Boston more than 81 ,000,0G0 worth of
precious stones. treasures that are
never seen outside his own home. For
a single ruby $4,000 has been paid by
an American collector, and dealer who
asked $1,000 for another ruby found a
purchaser in New York In less than
ten years the increase In the value OF
diamonds and other precious stones i'm
ported into the United States has been
fairly phonemonenal. advancing from
SIS ,16S,746 in 1888 to $25, 412.776, or &c
per cent. in this brief period, during
which the population increased less
than Is per cent The increase last year
over these imports for 1901 was $780,
209"