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RE: Mrs. John Wallace Riddle
 
3 East 51st. Street, 
New York, New York.
January 13th., 1939.

My dear César;

You will have to understand that if I didn't cable you in connection with my trip to the Riddles in Farmington, it is because there was nothing to say, unfortunately. 

However, before I start with my visit, I want to tell you that the day before I left, I got an urgent call from Charles Durand-Euel that he HAD to see me. To cut a long story short, he had been at Farmington the day before and Mrs. Riddle told him that I was expected two days later - hence his telephone call, and his desire, of course, was to work this matter hand-in-hand with me, if agreeable.

I immediately told him that I had already a partner in the business, but that I would be only too delighted to have him join us and that we would have to share the business on a 33-1/3$ basis.

He then explained to me that Mrs. Riddle asked him to value the pastel- which he told her he would think over and would write her. I asked him to at once write a letter that same evening, so that it would get to Farmington before I got there, telling her that as he was interested in the purchase of the painting he couldn't value it.
 
I was hoping thus, that I would not be put in the same position and that Mrs. Riddle would mention a price to me. Unfortunately that is exactly the position in which I was put, and I told Mrs. Riddle who was not surprised, having evidently received the Durand-Euel letter, that I couldn't at the same time be a buyer and an appraiser and that she should try and get a valuation from other parties and mention a price.

Your cable about the CHAUSSON catalogue, arrived 10 minutes before I took my train and of course, I couldn't get hold of that catalogue. I used, however, this element of information with her and told her that I would provide her with a photograph and the price of a pastel of a similar type which had been sold in Paris, etc., etc., to which she immediately answered so that it would be no indication to her, as three years ago conditions were very bad all over the world, etc. 

On the other hand, while I was talking to her I said, "as reluctant or as impossible as it is for me to make an offer on your pastel, I would gladly make you an offer for your collection" and though she had previously said she wouldn't want to sell the other ones, she requested me to mention my price for the collection. After a few minutes thought, I told her that I was offering her roughly $60,000. "This would not interest me at all" was her answer, which, in my mind shows, No. 1, that she evidently has high valuation in mind, and secondly, that she might not be averse to selling the whole group.

When I tried to press her to know whether she didn't have some sort of idea of price for her pastel, she very reluctantly admitted that two people had given her valuations which were $10,000., apart and I am wondering what valuations she might have had to show a $10,000., difference on a pastel which

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