Page 74 - C.T. Loo A paper about his impact and activities in the Chinese art Market
P. 74
74
or important items, more detailed descriptions of the objects, their place of origin,
condition, provenance, publication and exhibition history, and previous market values
would be included in the offer letter. The offer letter was often sent with a personal note
from Loo. When an offer was made and the object was sent to the client, a note would be
made on the inventory card to keep track of the whereabouts and price of the object.
Pricing and Bargaining
The price Loo quoted for an object was affected by market conditions. Loo often used
market rule to justify his quotations. In his offer of several stone sculptures to the RISD,
Loo wrote to its director, G. Washburn, “I am sorry to say that because of the increasing
value in Chinese Arts lately and also because of the little prospect of getting anything
from China in future, the price I am sending you are much higher than the ones
mentioned in the catalogue, which I hope you will understand, as I do not wish you to
feel that we have changed our prices for you; we have done this only according to the
evolution of the market.” 119 In the negotiation over the piece of the bronze offered to
Eugene Meyer, Loo hinted at the existence of other interested buyers. He wrote to
Charles L. Freer, “Mr. Meyer has offered $25000 for the Bronze, twice Shanghai has
repeated they want $30000 particularly on this piece they are very insistent because they
probably see a better market in Japan.” 120 Another way to justify the price was to trace
the history of the market value of an object or a comparable object. Loo, for example,
119 There is a price list attached to the catalogue, C. T. Loo and Company. Exhibition of
Chinese Arts: New York. Special Sale, November 1, 1941 to April 30, 1942. C. T. Loo to
G. Washburn, November 15, 1943, folder, C. T. Loo & Co.1920-1944, RISDA.
120 Shanghai refers to Loo’s partners in his Shanghai office. C. T. Loo to C.L. Freer, June
15, 1916, CLF-FGA.
