Page 76 - C.T. Loo A paper about his impact and activities in the Chinese art Market

76

the price of a Buddhist stele (WAM 1934.34), Loo explained why he could not keep the

price he originally asked for, “…it is absolutely impossible for me to take anything less

that XXXXX which price, because I have already promised you when you where in

New-York. Otherwise I have to keep my original price of XXXXX in as much as the

dollar has gone down about 6 or 7 % since I saw you last. It is certainly very unfortunate

for me that the dollar has now such a low value. It would be impossible for us to sell any

object of Art in America if the dollar continues its deprecation.” 126

Loo’s international operation also required him to take into consideration the

fluctuation of the exchange rate in pricing his merchandises. In August 1921 Loo wrote

to J.E. Lodge from France regarding the price of the stone shrine (MFA 22.380), “I do

not think it (is?) nice of me to give you the marked price of every body and to avoid any

discussion about discounts, I wish to quote you the lowest price and in francs at 175,000

so in case should the exchange get (better?) you would benefit on it.” (Fig.17) 127

Though Loo always emphasized that the price he quoted was the lowest possible one,

he was willing to make a reduction under certain circumstances. Loo often gave discount

to important buyers like John D. Rockefeller, Jr., and the MFA. Loo offered Rockefeller

128
a 10 % discount in the transaction of a group of porcelains. In the offer of a bronze gui

126 The price is confidential archival information. C. T. Loo to F. H. Taylor, March 17,
1934, WAMA.
127
C. T. Loo to J.E. Lodge, August 10, 1921, folder: Lai-Yuan Co., box: Unofficial
Correspondence L, 1910-1922, AAOA-MFA.
128 . C. T. Loo to JDR Jr., January 12, 1949, folder 1370, C. T. Loo 1916-1949, box 137,
OMR-RAC.