How unfortunate that what ever you do will diminish the beauty of that window. It appears to be a front to the street so you have to have some privacy so I feel your pain. I think I would be tempted to see what an opaque shade bottom up to about five foot would look like.

I am thinking along the same lines as arcy. I would consider a bottom up shade that extends to just where the window curves into the arch. I would match it to the window moulding. I would pull it up only when I wanted privacy, mostly at night. Your room is so pretty.

Terrific room. What did the previous owners use? Have you considered using a plain privacy film and leaving the window bare? I also like the idea of plantation shutters because they won't hide the architecture of the window.

Panels are going hide the impact of the window and cover part of the built-ins. If you decide on panels don't use grommets, they are too modern.

Thanks everyone for the suggestions about my arched window. I’m considering them. Previous owners had a straight double rod with the drapery hanging from them for all windows, including arched window and it did cover up the beautiful window and the shelving on the sides.
While I’m deciding on the arched window treatment, This room has 3 other windows as well that are not arched. I’m thinking about how to match all the window treatments in this room.
It was mentioned to not use grommet since it is modern. What would you suggest for this type of room? Maybe euro-pleated. I definitely want to use a double rod for privacy purposes.
I’m in the process of looking at different stores to buy a few drapes and try them out and see how it looks.