Page 95 - C.T. Loo A paper about his impact and activities in the Chinese art Market

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Rockefeller wrote to Loo, “…I give you $15,000 in cash for your beaker and any three of

the seven pieces of Chinese porcelain, one an articulated Ming piece, the other six very

fine Khang-Hsi vases, which I now own.” 188 Rockefeller further explained that he

proposed this exchange because his collection had grown so large and he had so many

duplicates that there was no adequate place to show them. 189 After several rounds of

negotiation, the transaction was completed with the agreement that Rockefeller would

pay $20,000 in cash and give Loo a Ming reticulated vase in exchange for $4,750. 190

Brokerage

191
The dealer’s contacts and market knowledge were commodities. Loo received

commission for his role as middleman between private collectors or between other

dealers and collectors. 192 Loo, for instance, acted as broker for Pang Laichen and C.L.

Freer in the transaction of Pang’s painting collection in 1915. A payment of $16,500 was

made to Loo’s company, Leyer & Co, Shanghai for thirteen ancient Chinese paintings

purchased by Mr. Freer in San Francisco, including the famous piece, Tribute Horses by

188 JDR Jr. to C. T. Loo, Nov. 22, 1932, folder 1370, C. T. Loo 1916-1949, box 137,
OMR-RAC.
189 Ibid.
190
C. T. Loo to JDR Jr., Dec. 16, 1932, folder 1370, C. T. Loo 1916-1949, box 137,
OMR-RAC.
191 Brokerage differs from direct sale and exchange in that the object in question was not
in the dealer’s possession during the transaction.
192 Dealers bought things from auctions for their clients and received commission for
their brokerage. Frank Patrtridge, for example, received 5 % commission from his

brokerage for JDR Jr. in the transaction of a Song flowerpot at the Christies’ July 2 nd,
1924 sale of the Benson Collection (Frank Partridge to JDR Jr., March 7, 1924, binder
(unnamed with JDR’s Chinese porcelain purchase vouchers), box 159, OMR-RAC).