What factors impact the value of an Oriental Rug?
When Sy and I 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. For more about all the factors that affect the value of oriental rugs, visit our blog. [Return to Top]
Will my rugs increase in value?
The vast majority of rugs, like most items of decorative art, will not increase in value. Properly constructed rugs will provide years of service and maintain their appearance. Whether or not a rug increases in value is usually based on forces of the market and the whims of fashion. [Return to Top]
Can a worn Rug still have value?
Yes – especially today, for two major reasons. First is the growing popularity of worn rugs in decorating as part of the – “Shabby Chic” movement. Second is the amazing work that can be done to repair and restore rugs that appear to be damaged beyond salvation. If you have a rug that is worn, get an experts opinion before you put it at your back door to wipe your feet, or toss it away. If you are interested in shopping for an older rug, there are great rugs out there – enjoy the search! Also, fine rugs like fine homes can be “fixer- uppers”. You may find a great rug with potential that is more affordable because it needs a lot of attention. Keep your eyes open. [Return to Top]
How do I go about selling my OR?
The first step is to know its Retail Replacement Value. From there you can set a price. But, remember, Retail Replacement Value is just that and unlikely what you as a private seller should expect. Next, decide where to sell it. You should consider a friend or family member, Dealers, On-line sites (e.g., eBay, Craig’s list) and Auctions. For more about these options and especially how to “deal with dealers”, visit our blog. [Return to Top]
Can I donate my rug ?
This can be a great option.You will need a formal professional appraisal and at a certain level, an IRS Form 8283 signed and dated by the appraiser. This is an opportunity to both “do good” and perhaps enjoy a tax break. Houses of Worship. historical homes and Non-profit Shelters are a just a few options. Talk to your local dealer and do some looking on your own. Always consult with your tax professional before moving forward. [Return to Top]
Should my Oriental Rugs be cleaned in my house?
We wouldn’t recommend it. At-home methods are only a surface cleaning and can’t give your fine rugs the attention that they deserve. A thorough, professional in-plant cleaning is the best way to remove the grit and dirt deep in the pile of your rug that draw life from the wool and acts like sand paper, breaking down the fibers. For thick or densely knotted rugs this is especially important. A professional rug cleaner can also advise you on how to properly care for your rug to prolong its life and maintain its value. [Return to Top]
Are repairs and restorations expensive?
It is much less expensive to do the proper repairs than to replace your rug. For fine rugs and tapestries, it is far more costly to let their value literally ravel away than to have them properly repaired to arrest damage; or expertly restored to return them to their original beauty.
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Is my rug worth restoring?
Not all rugs are worth it. You must consider both the market and sentimental value when you make a decision on how much to invest. You want to know if the cost to restore your rug is appropriate considering its current value as compared to its potential value after the recommended work is performed. A restorer should be able to provide you with a “before and after” market valuation as part of the estimate process. [Return to Top]