Over the past 30 years so much has changed in what we see, where we see it and how much it costs when it comes to Oriental Rugs. This makes valuation of rugs a real art. Don’t get fooled by inflated values that the seller may put on an “appraisal”.
So, what goes into the value of a rug?
When we started in this business, over 35 years ago, this was a much easier question to answer. Quality was king! Iran (Persia) was the largest producer of rugs and was the benchmark against which most other new rugs were compared. So much has changed.
Quality and Country of Origin are still very important, but, there is much more.
Today, the market value of oriental rugs is very dependent on the ever changing fashion trends that we see in other home furnishings and women’s fashion.
Here is what we look at when we evaluate Oriental Rugs:
- Quality- Wool, Weaves and Dyes
- Country of Origin
Great quality oriental rugs are made not only in Iran but also in India, Pakistan, China, Afghanistan, Tibet (Nepal) and other countries. So, with modern rugs, Country of Origin comes into play more when considering the cost of labor and getting the product to market than categorically whether one country makes better rugs than another. What Steve’s grandfather said decades ago is more true than ever today, “Look at the personality, not the nationality, of the rug”
- Color and Design
The business for both new and old rugs is a fashion business. Color & design have a profound impact on market value.
- Age and Condition
This refers specifically to used and Antique Rugs. Although age will most often enhance the value of a rug, condition can temper that. We go into more detail when we answer, “Can a worn rug still have value?”
- That Little Touch of Magic
Oriental Rugs, after all, are an art form and their real value goes beyond the fundamentals we outlined. A great rug will speak to you. Listen.