Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-01-20
WILL Be SOLD SOON
Waggaman Art Gallery to
Be Disposed Of.
ITS ESTIMATED VALUE
CARE EXERCISED IN COLLECTING
THE JAPANESE WORKS.
Pictures Limited in Number, but Sc
lected With Discretion-The Most
Popular Works on View.
IT'S ESTIMATED VALUE
BY WILLIAM E. CURTIS.

b1 w tLL1An f. SORIlo-
Written for The Evening Star and the Chicago
Record Herald.
The art gallery of Thomas E. Waggaman
of Washington will be sold at auction at
the rooms of the American Art Association
in New York city on the 18th of January
and the 10th of February 1t is considered
one of the four most valuable private col
lections in the United States, while the
Japanese department is estimated even
more highly, and ranks as one of the most
complete and important in the world. The
sale is to be without reserve to the highest
bidder: there is no upset price; no article
will be withdrawn; there is no restriction
upon the bidding, and every piece will be
catalogued for exactly what it is. The sale
has been ordered by the courts upon the
application of H. Rozier Dulaney, trustee
of the creditors in the sensational bank
ruptcy proceedings which have occupied so
much space in the newspapers for the last
six months. The Catholic University of
Washington was given bill of sale for the
collection by Mr.. Waggaman to secure the
payment of money intrusted to him as
treasurer of that institution. The bill of
sale was not recorded for several months
at the urgent solicitation of Mr.. Wagg1-
man, and when it was placed on record his
other creditors were alarmed and at once
appealed to the courts. The sale occurs
with the consent of the university. lest the
collection might be destroyed or damaged
and the proceeds will be treated as a spe-
cia fund distinct from other assets until
disposed of by an order of the court. The
other creditors waive no claims, but the
trustees of the university believe it wise to
convert the gallery into cash without I'M
necessary delay and rest upon their title to
the proceeds.
AS Is usual in such cases. there is a de-
cided difference OF opinion as to the value
of the pictures and other works of art
Mr.. 'Waggaman himself basing his calcula-
lions upon the original cost of the articles
and the natural advance in values, eSti-
mates it at $3.50 GOO. About five years ago
he told a friend that his japanese collection
represented an actual investment of $780,
COO, and he has since expended about $780,
coo in securing additional subjects. Last
winter he informed committee of the truS-
tees of the university that the entire col
lection represented a cash investment of
more than SS0O,00O. The appraisement of
experts employed by the trustees reaches
very nearly that amount, and 1t is expected
that something near three-quarters of
million dollars will be realized at the SALE
All pictures and brc-a-brac sales are at
tended by great deal of uncertainty, par
ticularly when such high-priced articles as
those in the Waggaman collection are Of
fered at auction. Money is easy at present,
however. The class of people who buy
costly works of art are unusually prosperous
just now and the sale should bring all that
the articles are worth. Several of the pic
lures have increased enormously in value
since they were purchased twenty and thirty
years ago for at that time the artists were
practically unknown. For example, some
years ago Mr. Waggaman purchased a
Dutch picture for 5000. He took great inter
est in the artist, watched his development
closely and ten years later decided to dis
pose of his picture and buy another subject
showing the maturity of the brush. He Of
fered the picture in the open market and
sold it readily for $4,000.