Investment Savvy Collectors Drive Strong Growth at Claremont Rug Company
In his annual private letter, Claremont Rug Company founder/president Jan David Winitz told the global client base of his antique rug gallery that he expects 2023 to be another strong year for elite-level Oriental Rugs from the Second Golden Age of Persian Weaving (ca. 1800 to ca. 1910) as their increasing rarity is combined with recognition of their value as investment assets.
In 2022, in the face of a fluctuating stock market and growing economic instability, Winitz wrote, "Demand increased significantly for the High-Collectible and Connoisseur-Caliber 19th century rugs that occupy Level 2 and Level 3 on Claremont's Oriental Rug Market Pyramidtm and comprise the bulk of our inventory." He predicts even stronger demand in 2023 for "the rarest of the rare."
Claremont, from a single four-gallery complex in the San Francisco Bay Area, occupies a unique place in the art world, having almost exclusive access to investment-level carpets for a client base on six continents and over 40 countries.
With an inventory of nearly 3000 pieces from the Second Golden Age that range in value from $10,000 to over $500,000 per piece, Claremont (www.claremontrug.com) annually sells more of these rarities than all the world's major auction houses combined.
"Our access to many long-held private collections continues to uncover spectacular pieces in excellent floor condition. In the general market, rugs of this rare caliber only occasionally appear on the market and are usually in a compromised state," says Winitz. "Because of our extensive, first-source buying network from homes and private collections, which we have fostered since our gallery's opening in 1980, we can keep pace with this burgeoning interest among art aficionados and investors."
Winitz reported that in 2022 a continuing pattern of clients acquiring rugs to display as art on walls and also for private rug cellars. He also noted sales of entry-level, High-Decorative antique rugs (Level 4 in Claremont's proprietary Oriental Rug Pyramid) held steady. This category of antique Oriental rug woven at the end of the 1800s through the early 20th century is where many new clients buy initially for heavy-trafficked spaces.
The dramatic increase in demand for the best 19th-century rugs Winitz attributes to the maturation of his clientele. "We spend a tremendous amount of effort on client education," he says. "Clients invest significant sums of money for these rugs, and we see ourselves as trusted advisors. We help them hone their eyes by providing substantial information online as well numerous articles for their review in our site's Education section."
Claremont has images of more than 200 rooms furnished worldwide for clients to view online. The Gallery has also recently added its annual retrospective, "60 Best-of-Their-Type Rugs Sold in 2022," that can be accessed from its homepage.
About Claremont Rug Company
Jan David Winitz's Claremont Rug Company (www.claremontrug.com), founded in 1980, is an international art gallery with an inventory of 3000 Oriental rugs woven during the "Second Golden Age of Persian Weaving" (ca. 1800 to ca. 1910). Rugs at Claremont are valued in the $10,000 to more than $500,000 per piece range.
The Gallery, located in Oakland, CA, does not participate in off-site exhibitions, shows, or auctions. Widely written about, Winitz has been featured in publications including Apollo, Art & Antiques, Art Daily, CEO Today, Financial Times, Luxury Daily, New York Times, Private Air/Luxury Homes, PrivateWealth.com, Robb Report, San Francisco Business Times, San Francisco Chronicle, and Wall Street Journal.
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