Tuesday, November 17, 2009
TREND: ANTIQUE ORIENTAL RUGS
Interest in pricey, antique Oriental rugs is on the rise. Jan David Winitz, founder and president of Claremont Rug Company, a gallery in Oakland, Calif. said that there is an unprecedented amount of interest in the best and most expensive antique rugs right now.
An event currently being hosted by the gallery, “Artistic Visions of the Refined to the Elemental,” features more than 150 antique rugs collected over nearly a century by four generations of a New York-based family.
Winitz reported that 25% of the buyers of the rugs in the gallery’s current exhibition and sale are first-time buyers. The rugs in the collection range in value from $18,000 to $400,000 each.
Wintiz said that the reaction to the collection stemmed from the recent sale of a small Safavid rug from the 16th or 17th century for $4.34 million. While prices reflect that interest in antique rugs has been on the rise, the art collecting community noted the sale of the Safavid rug and global response was immediate. Following the sale, Winitz quickly received inquiries from international art connoisseurs and collectors.
Over the past few years, clients who have previously purchased rugs to furnish their homes have been upgrading to rarer pieces to add to their art collections. Clients have generally purchased 15 to 40 rugs with which to decorate their homes.
Winitz believes that the high demand for these rugs is related to the recent interest in rare tangible assets, such as Old Master paintings, coins and jewelry.
In 2009, Claremont was selected by the Robb Report as one of the top three art and antique galleries in the United States. Claremont’s “Artistic Visions” exhibition was featured in the New York Times and on artdaily.org and can be viewed online.
Posted by Ashley James at 3:43 PM