Word: piecrust
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Dates: during 1990-1990
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...once had, but in the realm of antiques, the phrase is coming to mean extraordinary value for well-fixed investors. When two tiny, exquisite 18th century Philadelphia tables were auctioned at Christie's in Manhattan last Saturday, the prices they fetched were breathtaking. The first item, a dainty piecrust tea table, sold for $1.2 million; the second, a rectangular pier table less than 3 ft. high, was whisked from the block for $4.6 million...
During the past decade, American furniture has caught up fast with its Old World counterparts. Just four years ago, the first Philadelphia piecrust tea table broke the $1 million mark. A year later, a paw-foot Philadelphia chair sold for more than $2.7 million. "American furniture is going straight up," says Dean Failey, senior vice president of Christie's. "The rise is correlated with the art market. When collectors pay $30 million to $40 million for a painting, a domino effect touches everything else...