Oriental Rug Appraisals – What’s Your Area Rug Worth?
Oriental Rug Salon is proud to lend our experience and certifications to those seeking to obtain a valuation of their cherished Persian, Oriental wool or silk rug.
Oriental, wool, and silk rugs are a commodity, and their value is based on quality, availability, supply and demand, knot density, age and the condition of the rug. The value of rugs can go up or down in price, depending on market conditions.
By generally accepted definitions, an Oriental rug is defined as one that is hand-knotted or hand-woven. This also means a Navajo rug is in the same class as an Oriental in terms of evaluating, and subject to the same criteria as any other hand-knotted or woven area rug.
Two of the most influential factors that go into determining an Oriental, Persian or Turkish rug’s value are its antiquity and where it was made. However, a rug’s quality of workmanship, size and the materials utilized in its creation also play a significant role.
Whether you’ve received your Oriental rug as part of an inheritance, purchased it from a dealer or private individual, or obtained it through other ways, knowing what your rug is worth means more than just knowing its value in terms of a dollar figure.
While the actual cost of replacement or value on the market is important, it’s equally important to know the history of your rug, its approximate age, and any other information an expert can provide.
Here are four reasons to get an Oriental rug valuation:
Insurance
Most often, rug appraisals are done as a requirement by insurance companies to protect an investment adequately. At Oriental Rug Salon, we take special care in offering you the full replacement value of your rug in the event it becomes irreparably damaged by fire, flood or any other means, which ensures you receive the full compensation from your insurance company.
Private Sale or Auction
If you are considering the sale of your Oriental, Persian or Turkish rug, then you need to know its value in the current marketplace.
Appraisals are also necessary prior to an auction, so should you be preparing your rug for sale in this way, make sure you have a reputable, expert appraisal performed beforehand to notify potential investors of its value, as well as the other important elements necessary to fetch the greatest price.
Charitable Contributions
Though less common, I have many times over the years performed an appraisal for clients who want to offer their rug to a museum, charity or other non-profit entity for exhibition. If you are interested in making a charitable contribution of your antique rug to an organization and want to include this donation on your taxes, you’ll want a valuation to include as proof of the value of your donation.
Thinking About Purchasing a Rug
Oftentimes we are asked by interior designers and private individuals alike to assist them in determining a fair market value of a rug they are considering purchasing. We can provide this information so that you don’t overpay for an Oriental rug. You can also use our valuation to force the seller to lower their price to a fair value. We’ve seen clients save thousands of dollars by using our services to assist them in the purchase of a rug.
How are Valuations Performed?
When determining the value of an area rug, our rug master takes into consideration the values mentioned above, along with research that consists of the following:
- Current market value as researched using vetted online resources
- Auction “sold” prices of previous items auctioned
- The opinions of vetted rug collectors and Oriental rug shops
- Consultation with experts in the industry when needed
- Based on firsthand knowledge, certification, and experience of the rug master
- Information gathered from public and private sales
A client requesting a rug valuation will receive a two-page report outlining the following:
- The date of the evaluation
- The type of rug presented for evaluation
- The area upon which the area rug originated
- The material makeup of the rug
- A description of the rug
- The rugs approximate age
- The area rug size
- Additional information on the rug such as pattern
- The estimated value at auction and insurance value
- Side notes of the rug master
- An image of the area rug
- The rug masters signature and raised seal
To begin an evaluation simply visit our website at www.OrientalRugSalon.com and visit the “Rug Valuations” section. Complete the form and within 4-5 days we’ll complete the valuation and mail a certified copy to you for your records. The cost per valuation is $115.00.
Oriental Rug Salon is a full-service valuation, cleaning and Oriental rug repair facility serving clients nationwide. We are a Certified Partner with the prestigious Institute of Inspection, Cleaning and Restoration Certification (IICRC) and the International Carpet & Rug Institute (CRI). In addition, we are A+ rated with the Better Business Bureau and a four-year-in-a-row-winner of the coveted Angie’s List Super Service Award.
For more information about our services please visit us online at www.OrientalRugSalon.com or call us anytime at 239-424-8171.
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Area Rug Evaluations | Area Rug Appraisals | Oriental Area Rug Valuations | Online Area Rug Valuations
