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 "I have observed with considerable pleasure the improvement made in your publication, American Art Sales, beginning with Volume XII, Number I, December, 1931. The addition of the Decorative Arts to other works of art which you were in the habit of recording should prove of value to all interested. Your first issue in its new form convinces one that American Art Sales will be even more useful than formerly."
    The Metropolitan Museum of Art
 "American Art Sales is a very useful publication in that it keeps both the museum and the private collector well informed as to current values not only of paintings sold at auction but of rugs and other objects of art. It is distinctly a service which the Federation renders in making this record available to those who need it, and the files of this publication will make an authentic history of the 'whirligig of taste' and the instability of monetary values in art. . . . I take pleasure then in endorsing your publication of American Art Sales and wish it a long and useful life."
   Phillips Memorial Gallery,
   Washington, D. C.
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