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October 22, 1951

Dear Mr. Sachs:

In answer to your letter of October 15, in which you request me to give you my estimate of the present market value for the "Mille Fleurs" Gothic tapestry of the 15th century, which you purchased from this firm a great many years ago, may I say that in my opinion it has approximately today about the same value as it had then.

As you know, tapestries dropped considerably in prices, but such exceptional and rare examples as yours have reached again their old level; thus my opinion is that your tapestry is worth today between $15,000 and $18,000.

Other tapestries meanwhile, and particularly ones of lesser artistic merit and of later periods have not recovered similarly.

Trusting the above information will be of assistance to you,

Sincerely yours,

(Germain Seligman)

Mr. Arthur Sachs
33, rue de l'Universite
Paris
France

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