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Most families have their treasures: the quilt Grandma lovingly stitched, square by square; the mantel clock that has passed from generation to generation; an antique silver picture frame that belonged to a favorite aunt; a worn walnut jewelry box. These treasures often come into our lives to mark special events: births, graduations and especially weddings.

But people are not waiting for a special event to give, or gain, a precious keepsake. Whether it is a new piece of art glass or an antique rug, people are searching for objects that will become heirlooms.

The criteria for selecting these heirlooms haven`t changed: quality, good design and for most, objects that radiate a certain warmth.

”The `90s are family-oriented,” said Barbara Tober, editor in chief of Bride`s magazine. ”The gloss, the glitz is not what people are interested in. They want a homey quality.”

Indeed, Americans` desire for ”heritage” has been integral to the success of Ralph Lauren`s marketing philosophy, particularly in home furnishings. His designs are classic, but with a fresh twist: a floral-patterned teapot trimmed in plaid; a chair seat upholstered in wool plaid with a needlepoint back; a settee with a hand-painted leather back and a plaid seat.

An heirloom`s value, of course, is subjective. One family`s prized possession might be another`s garage-sale fare. And a photo of your great-grandmother can`t be assigned a monetary value, although it may be

irreplaceable, whereas your insurance company most likely would replace a stolen Waterford crystal centerpiece.

According to Nancy McIlvaine of Portals, Ltd., a River North gallery, the interest in keepsakes has been fueled by young people, who grew up surrounded by the contemporary tastes of the `60s and `70s and now are enchanted by objects with a past.

”Money and clothing won`t endure, but to receive something of quality that has been purchased just for you-well, that`s very special,” McIlvaine said. ”This year, we`re seeing a lot of interest in small architectural clocks and decorative British biscuit tins by Huntley and Palmer, which came out between 1868 and 1920.

”They`re a natural for graduates because not only do you give them something for their new apartment, but you also start them on a collection,” McIlvaine added. ”Young people are much more sentimental today.”

There are several reasons for the renewed popularity of heirlooms, including a greater appreciation of our own histories.

”Brides are older today,” Tober said. ”They realize the intrinsic value of things that belonged to their grandmothers, which might not have interested them as teenagers. They begin to realize the value of objects with longevity and heritage.”

For instance, cedar chests are making a comeback. Lane, the leading manufacturer, sells more than 100,000 a year. And the number is growing, the company reports. Designs span French Provincial, Italian Renaissance, Shaker, American folk art and hand-painted pieces.

Style sets the pace

As personal style continues to dominate the American home, it has influenced the buying habits of consumers. Dorothy Kalins, Metropolitan Home editor in chief, recently labeled style ”a basic requirement for everything we choose.”

In some circles, the desire to set oneself and one`s house apart is spurring the hunt for heirlooms.

”Since we live in a very large, impersonal society, heirlooms assert our individuality and establish something of value,” said Phil Miller, vice president of the Howard Miller Co., which has manufactured grandfather-style and other clocks since 1926.

”Many objects are disposable-clothes and even homes, which we may change as our lifestyles do. But heirlooms are transportable. And above all, they must have the ability to pull to the heart, to draw some emotional response.” How you set about finding an heirloom is as personal a venture as choosing where you`re going to live. On one level, all that`s important is that you like it. Investment potential may be a consideration, but it`s usually only critical in the purchase of antiques. Such buying requires a little homework and perhaps research.

Historically, among the most popular heirlooms are a family`s silver, china and crystal. Some parents begin to collect silver pieces for their daughters at their births.

”Adding silver place settings at holidays or birthdays really was a precursor to the bridal registry,” Tober said. Although not everyone has a formal coffee or tea service, serving forks, spoons, pie servers and the like are welcome and more affordable keepsakes. Contemporary artisans such as David Bacharach, a former dentist who hand-forges serving pieces of etched brass and silver, have expanded the choices, offering another dimension: works of art to display year-round.

Fine china, another popular choice as an heirloom, often is brought out for only a few occasions a year; so, for some, more practical heirlooms are teapots, soup tureens, jardinieres or cachepots (for flowers or other centerpieces) and serving platters.

A glimmer of glass

Crystal such as Lalique, Baccarat, Steuben and Daum long have been popular collectibles. Some rare, finely crafted limited editions or vintage pieces command high prices, some in six figures. But there is a more affordable option: art glass, one of the strongest components of the American crafts movement.

The selection of art glass today includes stunning decorative plates and bowls and functional pieces such as water and wine goblets, vases,

paperweights and perfume bottles.

”Everyone wants to make a personal expression about his home and environment,” said Ann Corcoran, who specializes with Michael Nourot and David Lindsay in free-blown glass, glass made without molds.

”In a time where much is keypunched and computerized, through art glass you can get a glimmer of what it`s like to create from scratch, and of eras when everything was done by hand.”

Some heirlooms speak to you directly.

”Clocks are among the few possessions that take on a personality,” Phil Miller said. ”They almost become human. They can move and talk every 15 minutes. There`s a personal involvement with them; you need to wind them once a week, and for some that even becomes a tradition to pass on to the oldest child.

”I have seen parents buy four of the same clock because they have four children, and they want each to have one. Clocks are an heirloom that, other than stocks and bonds, everyone wants.”

Ever-popular quilts

Quilts are another popular heirloom. Judi Boisson, who boasts one of the largest collections of antique American quilts in her retail shop in Southampton, N.Y., has each quilt design marked and copyrighted. The quilts, crafted of 100 percent cotton with cotton batting, sell in her shop and at Neiman-Marcus and FAO Schwarz. They range from $195 for crib quilts to about $1,000.

”Quilts traverse all social classes, reaching black, white, wealthy, poor,” Boisson said. ”They`re so versatile. People can cover up their beds, hang them on walls, use them as throws.”

Rugs also have staying power.

Today, many are being created in the same manner as the old, with wool that is colored by natural vegetable dyes and spun by hand. George Jevremovic considers his company, Woven Legends, dedicated to ”reviving the art of the rug.”

Perking up the imports

A dealer in antique Oriental rugs since the late `70s, Jevremovic collected Persian and Caucasian rugs. In 1983 he set out to improve the quality of newer imports, which he believed had become boring because of synthetic dyes and machine spinning.

”They lacked depth and beauty, even if they had wonderful designs,” he said.

Jevremovic directs nomads in southeast Turkey to weave to his specifications, with designs patterned after old ones: ”We get weavers to play a lot with color and design. There`s a spontaneity, variation and charm. Every rug we produce is unique.”

Other crafts that are being preserved are cutwork, embroidery, hemstitching and trapunto that characterize antique tablecloths, napkins, pillowcases and bedsheets. Paper White, a California-based company whose products are sold in department stores all over the country, epitomizes the romance of white linens.

Another trend is collectibles-old salt and pepper shakers, pens, heart-shaped objects, walking sticks, folk and religious art, candlesticks.

Also, you can create your own heirlooms. Making one-of-a-kind objects as gifts can be a lovely sentiment. After all, it`s personality and tradition that make keepsakes fascinating.

So whether it`s a hope chest, tea set, quilt or a handmade photo album that long has been part of a family, these objects help us remember special people and times.