Claremont Rug Company Announces Unprecedented Growth in 2021

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Premier Dealer of Elite Level Antique Oriental Rugs Cite the increase in international trade, Online transactions

OAKLAND, Calif., January 26, 2022–(BUSINESS WIRE)–Claremont Rug Company (www.clarremontrug.com) today announced unprecedented international growth in 2021 as well as strong gains in global sales of the most prestigious 19th century antique oriental pieces woven during the second golden age of Persian weaving (c. 1800 to c. 1910) .

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This Persian Bakshaish “Phoenix” rug, ca. 1825, measures 5’7″ x 6’5″ and was among the elite level rugs sold by Claremont Rug Company in 2021. (Photo: Business Wire)

Chairman/Founder Jan David Winitz cited the growing interest in art as a vital part of personal investment portfolios as a major factor.

Key results for 2021 included:

  • A dynamic reimagining of Claremont Physical Activity in 80% online shopping

  • Another 50% increase in international clientele

  • An overall sales increase of more than 25% compared to the extremely robust performance of 2020

  • A 30% increase in sales of High-Collectible and Connoisseur-Caliber antique rugs (priced on the Oriental Rug Market Pyramid®)

  • A record number of customer returns

In his annual letter to clients, Winitz, who founded the Gallery in 1980, pointed to a Deloitte year-end study on art and finance that said, “In 2014, only 53% of wealth managers thought that art should be included in a wealth management service… with 85% of wealth managers saying so in 2021.” Citigroup’s Global Art Market almost simultaneously wrote that contemporary works of art outperform the S&P by 174%.

“Today, the finest antique rugs are definitely included in this ever-increasing interest in investing in art, as evidenced by the rapidly growing number of Claremont customers placing their excess rug inventory in vaults- The number of rugs our clients purchased and organized for us to keep in our unit in an art warehouse doubled in 2021,” he observed.

Reflecting on comments from the financial community about investing in art, Winitz said the Claremont experience in 2021 confirmed the findings. “A lot of our sales growth comes from what we call high-quality collectible and connoisseur pieces,” he said. “These are the levels that are most often acquired for investment and private collection purposes. They are significantly less available and increasing in value.”

Winitz also pointed to the “very accelerated pace of acquisitions from clients in Australia, Hong Kong and Lebanon.”

Effects of the global pandemic

Author of “A Guide to Purchasing Antique Oriental Rugs,” Winitz noted that “the ongoing global pandemic has led to the home’s ascension as a sanctuary. Customers are increasingly using art rugs tall antiques in their residences, with wall displays to be showcased.”

Claremont continues to source elite level rugs for its inventory which consists of approximately 2500 pieces. Over the decades, Winitz has developed an exclusive international coterie of buyers/collectors who exclusively seek rugs for the Gallery. “This allows us to offer a amply stocked inventory of Tier 2 to 4 rugs in the most important Persian and Tribal styles,” he says. In contrast, major US and European auction houses continue to show significantly reduced stocks of elite rugs. »

2021 sales reflect antique rug tastes

Sales in 2021 of antique tribal rugs increased by 40% compared to the previous year. The main weaving groups continued to be 19th century pieces from the Caucasus Mountains and southern Persian tribal traditions, especially the intricately woven Qashqais. Among large floral rugs, ancient Hadji Jallili and other styles from Tabriz were clearly in the lead, up more than 50% from 2020, while sales of other styles of Persian city rugs, such as Mohtasham Kashans and Tehran, have also increased significantly.

Of all the room-size styles, the extremely hard-to-find early Bakshaish rugs once again topped the “best-selling” list. Customers also purchased level 2 and 3 Tabriz, Serapis, and Ferahan Sarouks at a significantly higher price.

Winitz’s 2021 prediction confirmed

With an accelerated response in 2020 and even more pronounced growth in 2021, he told his clients: “I believe my long-held prediction that we will be the last generation to have access to high-level 19th century carpets will be fully realized in 2022.” In last year’s letter, “my comments confirmed that there will be an intensification of acquisitions by US and international collectors and art enthusiasts for Tier 2 rugs and of level 3.

“Like the rarity of Renaissance paintings today, access to all artistic traditions has a limited lifespan. I remain confident that our vast purchasing resources will continue to provide us with significant numbers of Connoisseur-Caliber, High-Collectible and Occasional Museum-Level rugs that satisfy the tastes of our clientele,” he concluded.

About Claremont Rug Company

Claremont Rug Company by Jan David Winitz (www.clarremontrug.com), founded in 1980, is an international art gallery with an inventory of 2,500 Oriental rugs woven during the “Second Golden Age of Persian Weaving” (c. 1800 to c. 1910). Claremont rugs are priced between $7,000 and over $500,000 per piece.

The gallery, located in Oakland, California, does not participate in offsite exhibitions, shows, or auctions. Many articles on Winitz have been featured in publications such as 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.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220126005162/en/

contacts

Gary Tobin
For Claremont Rug Company
[email protected]
415-450-0810

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