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

cit is a sign of the times that contractors in
New-YOrk building houses in recent years to
high as from 100000 to $500 OOO'' says Ralph
ID. Paine in The Worlds Work" In other
city or time would contractors dare to build
houses for the general market. hoping TO sell
them for more than 100000: but whereas
half century ago the furnishing of the wealthiest
homes was characterized by mOnstrous uglness,
a single generation has seen revolution in
American taste Even until decade ago the
acquisition of costly collections in art
fined to paintings. and the ruling spirit to
get the most display for the greatest outlay,
with few notable exceptions. Little by little
a group Of milliOnaires found time and inclina-
ton 10 appreciate to value pOrcelains. rugs
tapestries and gems. 1t is common for a
plutOCrat Of this era TO spend SlOOoOtD 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 ad0rn an American
home. The wife of another American paid SI2j.-
900 for set of furniture not long ago, and there
We're only four pieces. Their value was in the
tapestry upkOlsteTing. In n shop i'm Paris there
are three panels Of tapestry for which 100000
each is asked. The dealer has an agent in this
country, who is confident Of finding purchaser
soon he finds the millionaire who wants
costly tapestries. At the sale of the MarqUand
collection last winter rug was sold for SIS 900
1t is supposed to have been bought by a dealer
who viii hold il until he finds a purchaser Will
ing to pay $4,000 even 100000 for the
n
lection of rugs among the furnishings of his
home for which he paid at lowest estimate
$2J0OO0 transformations Philadelphia can fur
nsh list Of S1.Ot1OOO 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 Ct these
said recently:
There are not more n an one hundred and
fifty men in the United states whom I can fairly
L
get two Of them regular customers 1 viii ask
no other patronage. II is true that some
millionaires buy that they may shine in the re-
nected 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-
lains and antiques in general when picked by
experts They buy on rising market. for the
demands of American luxury are exhaUsting the
treasures of the Old World 10 IS a business
estimate that any collection wisely chosen and
in value at an average rate of 4 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. 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
OF the leading gem collectors Of this country.
who buys 10 sell again. has sold to one in
Boston more than 81 .OhlOtD 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 ard a dealer
who asked SlOO,JSJ for another ruby found a
purchaser in Ncw-YOrA,- 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
6S,I45 in 1898 to S2J.i12,I16. 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 was