Rug Appraisal
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Why Get a Rug Valuation and Rug Appraisal?
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.
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 Obtain An Oriental Rug Appraisal
Insurance
Most often, rug appraisal are done as a requirement by insurance companies to protect an investment adequately. At Elegant Rug Services, 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 an 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 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 Professional 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