Viewing page 9 of 13

This transcription has been completed. Contact us with corrections.

- Page II - 

June 10th, 1941

Mr. Jones

2. We feel it would be unwise to have the public -- or let us say more commercially, the art market -- know that the whole of the Whittemore Collection is for sale; first, because it would psychologically impress people in a way contrary to your interests, and secondly, because if 40 or 50 pictures of about the same artistic tendency were on the market at the same time, it would have an immediate reflection on the prices obtained.

3. We feel, therefore, that it would be wiser if you started by trying to dispose of only half the pictures, keeping the other half in storage or on loan with some museums where it would be understood that the pictures are absolutely not for sale. 

4. We would then, after having made a choice with you, take on consignment the other half of the pictures. From these, in turn, we would select only a dozen or so, forming the lot which we would offer for sale, keeping the others on hand but not showing them. Whenever one of the first twelve pictures was sold, we would replace it with another. Thus, we would overcome the unfavorable impression created by showing ten or twelve Monet paintings, for example, at the same time. 

5. We would dispose of the pictures for your account on a fired commission basis of 15% on the selling price. These prices would be agreed upon by you and ourselves. On the other hand, in order to fully protect your interests and to give you a moral guarantee that we would try to sell them for the highest possible prices, should we obtain higher figures than the minimum ones agreed upon, our commission would be increased proportionately, and according to the terms to be discussed between us. 

6. You would insure the picture while in our possession. 

7. You would agree to give us the exclusive opportunity of handling the pictures for a definite period of time to be agreed upon. 

As it is very likely that I will have to take a very long trip in the near future, I do not know whether I will have the privilege of talking this matter over with you after you have read this letter and taken it up with all parties concerned, but Mr. Germain Seligmann who is at the head of our firm will be delighted to go to Naugatuck to talk the matter over at length with you. 

He would also bring you three lists of prices which we have already made. The first lists the actual figures which you could expect to raise in the near future if you wanted to dispose of the bulk of the collection immediately. In other words, these figured would be the ones you might 

t.s.v.p