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JUNE 2, 2008
Domestic and International Connoisseurs Embrace Antique Rug Sales Event in “Next Frontier of Art Investing”
Claremont Rug Company Reports Extremely Brisk Sales; Purchasers “Stockpiling” Investment Level Pieces.
OAKLAND,
Calif.-- Jan David Winitz, founder and president of Claremont Rug
Company, reported today that sales of his recently acquired Hudson
River Valley Collection of investment-level, 19th century Oriental
carpets are “extremely brisk” and it had attracted a growing number of
international purchasers.
He noted that
in a 10-day period, aficionados from Italy, the UK and France had
visited his gallery to purchase rugs from the Collection.
He said, “the Collection is a true global event in the antique carpet
market. There are extremely few opportunities for serious collectors
and lovers of beauty to view and acquire rugs of this quality and
rarity.”
Winitz
added, “this is why when top-level antique pieces occasionally appears
at auction, the selling prices are typically far above the estimated
value. Yet in art terms, the best rugs are still incredibly
undervalued. This is the next frontier of art investing.”
Recognized
in major publications as ”one of the most significant single
acquisitions of art-level antique rugs from a private source in the
past decade,” the Hudson River Valley Collection originally represented
an inventory of more than 225 art-level pieces.
Recently,
an additional 65 carpets were acquired from a second family member.
Winitz said, “rugs of such magnitude and inexpressible beauty are
seldom available, and certainly never in such an abundance of size and
style. This has allowed clients to purchase both for collection and to
fulfill virtually whatever decorative needs they may have.”
Assisting
clients in building antique rug collections for nearly three decades,
Winitz is in a unique position to comment on the changes in the antique
rug market. “When I was starting out, only a small number of
connoisseurs recognized that the best rugs are monumental art works
akin to the finest paintings and sculpture. Now, while this group of
aficionados has expanded, the lion?s share of these consummate rugs is
in private collections and availability has dwindled significantly.
“Winitz emphasized that he is addressing exclusively superb quality,
art-level 19th century rugs. He said, “many substantially lesser 19th
century pieces and rugs from the first half of the 20th century are on
the market that are beautiful decorative items, but hold only marginal
interest to the serious collector or investor.”
As
the New York Times wrote recently, “antique rugs are increasingly rare,
connoisseurship is more sophisticated and prices are escalating.”
“There
appears to have been a significant amount of investment money on the
sidelines,” Winitz said. “The Collection, with its extensive inventory
of top 19th century carpets, has allowed our clients to diversify as
well as enjoy their investments.” He added that antique rugs always
have been of major appeal during times of economic insecurity and
inflation.
Winitz, who founded Claremont
Rug Company in 1980, said that there is a sense of urgency among
collectors worldwide who are ‘stockpiling’ rugs in what he terms
‘drought-like conditions’. The author and lecturer revealed that many
of the purchases have been in multiple rug lots and that one client
purchased 35 carpets from the combined collections.
He
noted that sales have been equally distributed between clients visiting
his gallery and those viewing them on the Claremont website, with
numerous first-time buyers viewing pieces online and then flying in to
make purchases. Many ongoing clients have bought directly from the
website images or from digital photographs Claremont provides.
Winitz
has identified several trends among collectors seeking significant,
investment-level pieces from the Collection, citing purchases of
top-level carpets from noted weaving styles such as the various
subgroups of Caucasian rugs, Bakshaish ‘Tree of Life,’ Laver Kirman and
related Kermanshah, Motasham Kashan and Hadji Jallili Tabriz.
Also
see:
FINANCIAL TIMES - "Treasures You Purchase to Hold on to" (3/29/08)
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MARKET WATCH / THE WALL STREET JOURNAL - "Global Leap in Best Antique Rugs as Major Works of Art " (7/14/08)
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THE MERCURY NEWS - "Rare rugs" (5/30/08)
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YAHOO FINANCE - "Claremont Rug Company Announces Additional Hudson River Valley Collection " (4/30/08)
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REUTERS.COM - "Claremont Rug Company Holds Globally Significant Exhibition… Rare, 19th Century Caucasus Rugs" (12/17/07)
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FORBES.COM - "Claremont Rug Company Acquires “Mother Lode” Collection of 19th Century Art Carpets" (2/12/08)
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FORBES.COM - "Increasingly Savvy Clients and Decreasing Availability Combine with Internet To Create Perfect Storm in Rare Rug Market" (10/24/07)
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MORNINGSTAR.COM - "Demand for Antique Carpets and Rugs Expands While Availability is Reduced" (9/16/07)
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FORBES.COM - "Leading Antique Carpet Dealer Cites Boom in Internet Sales" (9/5/07)
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WORTH MAGAZINE - "Masterpieces Underfoot "
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CALIFORNIA CEO - "Putting
Out the Red Carpet: The Claremont Rug Company has woven a close
relationship with its customers thanks to a wise use of the Web."
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CIO Magazine
- "Carpetbaggers: The Claremont Rug Co., purveyor of antique carpets
made centuries ago by Southwest Asian nomads, has benefited doubly from
the great leap forward to the Internet."
FINANCIAL TIMES - "How
To Spend It: East bay passions. The sit-ins are long since over, says
Holly Finn, but Berkeley has plenty to shout about...The Claremont Rug
Company - one of the world's best sources of antique carpets - is here."
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SAN FRANCISCO CHRONICLE - "Art At Your Feet: Antique or copied oriental rugs express their weavers' inspirations"
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OAKLAND TRIBUNE - "Web Helps Rug Store Clinch Sales"
BEL AIR ARTICLE - "What Hotel Bel Air (Beverly Hills, CA) says about Claremont Rug" |
