Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-09-08
INVESTING IN ART.
Rugs and Other Things Which Steadily
Grow in Value.
From the Worlds Work.

From the Worlds Work.
1T Is sign of the times that contractors
in New York are building houses in recent
years to sell to chance customers at prices
| ranging as high as from 100000 to $500 600.
In no other city or time would contractors
dare to build houses for the general mar
ket, hoping to sell them for more than
81 900; but whereas a half century ago
the furnishing of the wealthiest homes was
characterized by monstrous ugliness, sin
gle 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 a few notable excep-
tons. Little by little a group of million
aires found time and inclination to appre-
ciate or to value porcelains, rugs, tapestries
and gems. 1t Is common for plutocrat OF
this era to spend 81 900 600 in furnishing his
home, and the ablest experts sell their serv-
ices to insure the highest standard of taste.
An American millionaire paid $500. 600 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 $125, 600 for set of furni-
ture not long ago, and there were only four
pieces. Their value was In the tapestry up
holstering. In a shop in Paris there are
three panels Of tapestry for which 800, 600
edCI Is asked. Lie Oodl0T mas an agent III
this country, who Is confident of finding
purchaser as soon as he finds the million
afre who wants costly tapestries. At the
sale Of the Marquand collection last win
ter rug was sold for $4,000. 1t Is sup
posed to have been bought by dealer who
will hold 1t until he finds a purchaser will
ing to pay $4,000 or even 100000 for the
treasure. Senator Clark of Montana has
a collection of rugs among the furnishings
Of his home for which he paid at lowest
estimate $250,O0O. transformations Philadel-
phia can furnish list of 81 900 900 worth
of paintings in twenty-five frames hanging
In the private galleries of her millionaire
collectors.
In 9TH avenue there are perhaps a dozen
inconspicuous shops which deal almost ex-
clusively with the very rich. The owner of
one of these said recently:
There are not more than one hundred
and fifty men in the United States whom I
can fairly class as possible customers of
NINE If can get two of them as regular
customers l 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 a class they have
come to recognize the fact that there Is no
safer investment from a business stand
point than fine paintings. rugs. tapestries.
porcelatnS and antiques IN general when
picked by experts. They buy on rising
market for the demands of American lux
ury are exhausting the treasures of the
old world. 1t Is a business estimate that
any collection wisely chosen and not bought
for extortionate figures will increase in
value at an average rate of 4 per cent
year. or the interest on the investment. 1t
Is still characteristic Of many wealthy
Americans that small objects. even IL 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. med
ais 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 kinds OF