The First Art Newspaper on the Net Established in 1996 United States Monday, October 20, 2014


Art Level Oriental Rug Market Big Beneficiary of High End Investor Flight To Precious Tangible Assets
Caucasian Eagle Kazak, 4-6 x 6-8 late 19th.
OAKLAND, CA.- The continuing disenchantment with financial investments has proved to be a major boon to Claremont Rug Company and its clients who are collectors of 19th century, art level Oriental rugs.

Citing the interest in his latest acquisition, Claremont president Jan David Winitz said the demand for the “best of the best” was unprecedented in his 30 years in the business.

“We have nearly three dozen waiting lists for clients who are seeking rugs to add to their art collections and who are telling us that they are buying them as they move away from other investments,” he said.

Winitz said that in the 90 days since he had unveiled the 175-rug Intercontinental Collection, the Gallery had sold nearly 80 percent of the pieces. The carpets range in value from $20,000 to $500,000 per piece. “Normally, it would take almost a year to sell that percentage of a major collection. But frankly our clients are reflecting what is going on at the high end of investing and art collecting,” he said. “Rugs from the Second Golden Age of Weaving are precious tangible assets that represent one of the last undervalued segments of the art market.”

A recent two-page feature article in the Wall Street Journal as well as pieces in Worth Magazine and The Financial Times of London have whetted collectors’ appetites as they have highlighted the importance, scarcity and artistry of museum-level 19th century carpets. “There has always been a knowledgeable core of collectors,” said Winitz, who is recognized as a leading global authority, “but the secret is now out. Great rugs augment other forms of great art and they are still considerably undervalued versus comparable forms of traditional art in collections.”

One highly publicized expression of the burgeoning interest in art level rugs was the recent sale of a 17th century Laver Kirman rug for $9.59 million at a Christie’s auction in London. The price, more than 20 times the estimate, was twice the highest price previous paid for a rug.

For its part, Claremont has acquired two major collections in the last several years. The interest in the Intercontinental Collection rivals that of the Hudson River Valley group of rugs in 2008, Winitz said, pointing out that the two collections are considered by rug aficionados as the two most important to come to market in decades.

The release of the final 45 rugs from the Intercontinental Collection, features rugs from a French art collecting family assembled over five generations. They can be viewed on the Gallery’s website (www.claremontrug.com). This group was primarily kept at the family’s estate on the Italian Riviera, one of its four principal residences. The others resided at:

• The family’s ancestral property, a chateau in the countryside outside Paris
• A villa near Rio de Janeiro and
• A two-story penthouse apartment in Manhattan

Winitz said, “The family members have been major art and rug collectors for 150 years. The matron told me that her family ‘always viewed Oriental rugs as an art form equal and in many cases superior to other types of art.’

“Because relatively few rugs of art-level quality were woven during the 19th century and because the majority of them are held in private collections, there is great excitement when they come to market,” he said.

From the investment perspective, the Wall Street Journal recently summed up a major reason for the intense interest in art level rugs.

It wrote: “Stocks had developed an almost cult-like following in the 1980s and 1990s, when they were among the best investments available. But in the past decade, big U.S. stocks have had the worst performance of nine major investment classes tracked by investment research firm Morningstar.” (Wall Street Journal, July 12, 2010).

At the beginning of the year, Winitz declared 2010 as “The Year of the Rug.” It has proved to be a prescient and, for collectors of art level rugs, an enormously profitable prediction.

“And this is not even to mention the great emotional satisfaction that comes from owning these irreplaceable, one-in-the-world objects of inspiring beauty,” Winitz said.

Claremont Rug Company | Jan David Winitz | California |




Today's News

August 2, 2010

100 Life-Size Cast Iron Figures by Antony Gormley Installed by Helicopter in the Austrian Alps

The Ashmolean Announces Its First Major Exhibition: The Pre-Raphaelites and Italy

Unemployed Book Dealer Gets Jail for Stolen Shakespeare Tome

Poles Hope Deadly Knights will Now Bring Some Good

Eastern Europe Under Spotlight on Art Restitution Cases

Christie's Announce Landmark Lowry Sale from the Collection of Selwyn Demmy

At Meeting in Brasilia, UNESCO Adds More Sites to the World Heritage List

Chihuly Collection Designed by Alberto Alfonso Opens in Florida

Butler Art Museum Rescues Pierre Soulages Masterpiece

Stacks of Planks, Chairs, and Tables by Martin Creed at Fruitmarket Gallery

Marlo Pascual and Sergej Jensen Open Solo Exhibitions at Aspen Art Museum

Shary Boyle's Flesh and Blood to Go on Display at Art Gallery of Ontario

Stunning Nudes by Photographer Rankin at Annroy Gallery, London

Art Level Oriental Rug Market Big Beneficiary of High End Investor Flight To Precious Tangible Assets

20/21 British Art Fair to Show the Best in British Art this Year

National Portrait Gallery Announces Exhibition by Dmitri Kasterine

Kunstverein München Announces First Comprehensive Solo Show by Tobias Madison

Contrasts Gallery to Exhibit Six Prominent International Artists at Art Taipei

Mechanical Banks Draw High Rate of Interest at RSL's $1.8 Million Auction in Baltimore

Archiving Place & Time: Contemporary Art Practice in Northern Ireland since the Belfast Agreement

CBT Receives "Best in Show" for One Post Office Square at IIDA New England's Design Awards

"Peter Grippe: A Personal Vocabulary" Now on View at the Allentown Art Museum

Renowned Artist Philip Brooker Gives Miami's Saucy Image a Makeover

John Takehara Gallery Named at Boise Art Museum

Stolen Portinari Painting Recovered in Brazil

Detroit Institute of Arts and Saks Fifth Avenue Present Fash Bash 2010

Most Popular Last Seven Days



1.- 1949 Studebaker original Grateful Dead band truck from the 60's offered at Michaan's

2.- Image of a Christ without a beard, short hair and wearing a toga unearthed in Spain

3.- Agatha Christie's lost diamonds discovered in old suitcase are offered for sale at Bonhams

4.- Kama Sutra: Spirituality and Erotism in Indian Art explored in new exhibition in Paris

5.- Ancient cave drawings in Indonesia are as old as famous prehistoric art in Europe

6.- Empress Eugenie's Feuilles de Groseillier brooch to be offered at Christie's Geneva

7.- Roman Emperor Augustus' frescoed rooms unveiled for first time after years of restoration

8.- Dallas Museum of Art and University of Texas at Dallas partner to form new art history institute

9.- Degas's famous sculpture Little Dancer celebrated in exhibition at National Gallery of Art

10.- Artist Fujiko Nakaya's fog art wraps Philip Johnson's Glass House in New Canaan

Related Stories



Rug world evolves: Art collectors beginning to hone in on 19th century oriental rugs

Burgeoning Interest in Collecting Push 19th Century Oriental Rugs to Forefront in Art World

Claremont Rug Company Exhibits Major "Treasury" of Collectible Antique Art Pieces

Historic Oriental Carpet Sells for $9.59 Million; Twice Previous High Price

Word-of-Mouth Drives Record Response to Major Oriental Rug Collection Event

Claremont Rug Company to Exhibit "Awe-Inspiring" Collection

Claremont Rug Company Exhibits Rare Assemblage of 19th Century Art Rugs

Claremont Rug Company Notes Significant Increase in New Buyers of Carpets

Global Leader Claremont Rug Co. Adds Staff, Waiting List to Meet Increased Demand for Rare Carpets



Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 

Founder:
Ignacio Villarreal
Editor & Publisher: Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez - Marketing: Carla Gutiérrez
Special Contributor: Liz Gangemi - Special Advisor: Carlos Amador
Contributing Editor: Carolina Farias

Royalville Communications, Inc
produces:

ignaciovillarreal.org theavemaria.org juncodelavega.org facundocabral-elfinal.org
Founder's Site. The most varied versions
of this beautiful prayer.
Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site