Page 77 - C.T. Loo A paper about his impact and activities in the Chinese art Market

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to the MFA in 1941, Loo quoted “Special Museum Price” of $10,000 instead of the

regular price of $12,000 to show his special favor to the museum. 129

In the bargaining process, Loo was often more willing to yield to the counteroffer of

the prospective buyer when it was to be a cash payment. Shrewd collectors like

Rockefeller knew well that dealers were often in need of cash. 130 In the negotiation of six

pieces of porcelain, Rockefeller tempted Loo with immediate cash. In response to

Rockefeller’s counteroffer, Loo wrote, “…beside I need cash 1500 dollars today so I

accept your kind offer”. 131

Payment

If no agreement was made between Loo and his clients in the negotiation, Loo would

ask them to pack the object and send it back to him or the next prospective buyer. A

record would be made on the inventory card after it was returned. The object would enter

a new cycle of the promotional and distributional activities. If Loo and his client reached

an agreement after the negotiation, Loo would send a revised offer letter to the client and

waiting for the payment.

129 C. T. Loo to the MFA, March 3, 1941, folder C. T. Loo, box: I to L, 1936-1947,
AAOA-MFA.
130
Joseph Duveen’s cash discount is 10% in his business with JDR Jr. Duveen wrote to
JDR Jr.,“In common with other business men today I am in need of a large sum of cash
and, should you be willing to consider the purchase of the four busts as a cash
transaction, I am prepared to reduce the price quoted to you by ten percent.” (J. Duveen
to JDR Jr., January 6, 1932, folder 1325, Duveen Brothers-Dreyfus Collection, 1930-
1951, box 133, OMR-RAC)
131 C. T. Loo to JDR Jr, Tuesday (February 5, 1935), folder 1370, C. T. Loo 1916-1949,
box 137, OMR-RAC.