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When a man has made money in America he at once becomes a victim to the craze for an artistic home. The tradespeople with whom he comes in contact in order to achieve his artistic desires speak of art and rugs and paintings. He reads in the newspapers about Mr. So-and-So who spent thousands of dollars for antique furniture or for pictures in auctions, and he begins his walks on these dangerous and costly grounds where one may buy for goodly sums the ephemeral fame of a collector and a lover of objects of art. The reputation of an art expert seems to go with the objects as well as the wrapping paper and string.

It is the dream of every antique dealer once in his life to enter one of those coveted garrets where treasures of six generations are stored in boxes, in cases and trunks. To enter this garret at the invitation of some real estate owner or lawyer who represents an estate anxious to sell the house and to clear out the ‘rubbish’; to buy the contents of such a garret for a few dollars and to find a painting by Rubens or Tintoretto or Martha Washington’s wedding slippers or a suite of magnificent Colonial furniture … sure enough these are red-letter days in the career of almost every antique dealer. Only recently, for instance, in an old garret on Ninth Street, an old Persian rug was discovered which no second-hand dealer would have paid fifty cents for, an expert rug man realized its value, gave eighteen hundred dollars for it in competition with other dealers and sold it to a famous rug collector for twenty-six thousand dollars.

Some time ago a buyer of Marshall Field in Chicago saw a painting in one of the minor art shops of the city. He liked it and purchased it for fifteen hundred dollars. It was marked six thousand dollars and put on sale in Marshall Field’s art gallery. It is a standing rule of this art gallery to resell once a year all their purchases. This particular painting seemed unsalable. It was reduced and reduced for a number of years, but it could not be sold. Finally a picture speculator bought it for six hundred dollars, took it back to New York, sold it in an auction sale for ten thousand dollars. The picture was sold and resold eight times during the following six months and ultimately found a final resting place in the mansion of a very well-known man on Fifth Avenue. He paid for it one hundred and eighty thousand dollars.

Not the man who keeps shops and stores has the great adventure in seeking after the old and antique. But people who are “picking up things,” attending action sales here and there, visiting junk shops and second-hand shops all over the city, constantly expecting to find something and never tired or disappointed. I know highly educated men unusually gifted, possessing expert knowledge that in many cases surpasses the “infallibility” of our museum authorities, who prefer the free life of buying and selling to high-priced positions in art shops and in art galleries. I know one man who is “picking up” a living by looking through the book-stalls of dealers and buying odd volumes for small amounts of money and selling the same books to rare-book dealers for as many dollars as he pays cents.

1917

Adventures in American Bookshops, Antique Stores and Auction Rooms

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