PRICING GUIDE                                      GO BACK This section covers some topics which help in understanding how handmade rugs are priced. These topics consist of artistic value, comparison, investment, and the 13 attributes. Artistic Value Pricing a handmade rug is not an exact science because handmade rugs are works of art and they have artistic value. Two rugs of the same size made by the same weaving group with the same knot density and material are not necessarily priced the same. As a matter of fact, one could be up to ten times more expensive than the other due to its more attractive color combination and an exquisite design. Comparison In the same way that one would never compare an abstract painting with an impressionist painting, one would never compare a workshop rug such as an Esfahan with a nomadic rug such as a Baluchi. Handmade rugs should always be compared within their own family. To find out whether an intricately designed workshop item with a high knot density is priced correctly, one should compare it to rugs in the same family, meaning rugs with intricate designs and high knot density. The perfection of the design, the fine knotting, exact patterns, uniform color tones, and the very best materials are the determining factors in the value of such a rug. However, in nomadic and some village rugs, knot density is usually not a factor in the value of the rugs because nomadic rugs are judged by a different standard than workshop rugs. Nomads do not have the same sophisticated tools as other city weaving groups do. These items are valued by the fact that their designs are created from memory, their dyes and materials are provided from the nature around them, and most importantly the weavers' way of life is expressed in these rugs. The artistic value of nomadic rugs does not lie in their perfection; it lies in their heritage and simplicity. Return to Top Investment Not only do handmade rugs satisfy our artistic thirst and serve as practical floor coverings, they are also sound investments. A rug which was $400.00 in 1940s can have a wholesale value of 7,000.00 to 8,000.00 dollars and a retail value of about 12,000 to 15,000 dollars today. If you buy a handmade rug and hold on to it, and one day decide to sell it, not only have you gained on the value, but also you have enjoyed the rug for years. Even though handmade rugs, if bought correctly, are good investments, our suggestion is that they should never be bought for the sole purpose of investment; they should be bought for enjoyment. Do not buy a handmade rug solely as an investment unless you are a professional handmade rug merchant. Return to Top Keeping in mind that rugs are a work of art and that each rug should be evaluated within its own family, we can use the 13 attributes in this section as a general guideline in pricing rugs. None of the attributes can individually be a price determinant; the attributes work interdependently and one affects the other. These attributes include size, color, layout, pattern, style, make, pile, weave, foundation, knot, category, age, and condition. Although they work as a group, not all of them are always important in determining the price of a rug. Below we have examined the effects of each attribute on price. It would be a good idea to visit the attribute section and learn about the 13 attributes created by Medallion Rug Gallery in order to better understand their effect on price. Size Size often is a factor in price of a rug because the larger a rug, the chances are that it has taken a longer time to weave it, so if knot density, age, category, pattern, layout, pile, type of dye, and most importantly the degree of beauty are equal, chances are the larger rug will be more expensive; however, we could never say that larger rugs are always more expensive without considering the other attributes. Color Color also in conjunction with other attributes could affect the price. Color combination is actually an important factor because it is by color contrast that design is created and a harmonious combination of colors can dramatically affect the beauty of a rug. Dyes have also affected the price of rugs based on their popularity in a certain period of time. When synthetic dyes were first invented, rugs using synthetic dyes were very popular because most rugs were made with natural dyes and rugs with synthetic dyes were rare. For the first time, synthetic dyes allowed the weavers to use a variety of colors beyond their imagination. Also, with synthetic dyes the colors would come out even and did not have any abrash. However, today rugs with natural dyes tend to be popular, especially among collectors, because now rugs with natural dyes are rare and most rugs are made with synthetic dyes. Return to Top Layout and Pattern Layout and pattern are important simply because they create the design and the more attractive the design, the more expensive the rug. Style Style could be a factor because at different times and places, different styles are more popular and there is more demand for them. Make Make is the place where a rug is woven. A style made in its place of origin is usually more expensive than the same style reproduced elsewhere. When a style originates in a place, the designers, the weavers, and the dyers relate to and understand that style. This is true perhaps because the style is part of their history and heritage and can be seen in their other artwork such as architecture, jewelry, and paintings or because they better understand the color combinations since the colors were originally in their surroundings, used in other parts of their life, or have special meaning for them. Styles of one country are not only copied by weaving groups of other countries, they are also copied by different weaving groups within the same country. Return to Top Pile Material of pile is another factor which can affect the price of a rug for two reasons. First, some materials are more expensive than others. Silk is more expensive than wool and certain kinds of wool such as kork (fine wool taken from the belly of sheep) are more expensive than other kinds of wool. Second, most silk rugs also have silk foundations which allow for higher number of knots per square inch, so not only is silk a more expensive material, but also it can produce rugs with a higher knot density. A small silk rug could be much more expensive than a larger wool rug. Weave Pile (knotted) weaves are generally more expensive than flat weaves because with knots an endless variety of designs and color combinations can be created. In addition, weaving a pile rug is much more labor-intensive. Return to Top Foundation The finer the foundation material is, the more knots the weavers are able to tie in one square inch. The most common foundation material is cotton. Most silk rugs have silk foundations. Some nomadic rugs have wool foundations. With silk foundation more knots can be tied in one square inch than with cotton or wool foundation, and with wool foundation the least number of knots can be tied in one square inch. Even though with silk foundation the highest number of knots can be tied, we cannot automatically say that a rug with silk foundation is always more expensive. We cannot even compare an all-silk workshop rug with a nomadic rug made with wool foundation because nomadic rugs are judged by different standards. The reason wool is used in nomadic rugs is because it is found in the environment of the weavers and that itself adds value to the rug. Knot Type of knot does not have a major effect on the price. The exception to this rule are rugs made with the jufti knot such as Bhokhara rugs made in Pakistan and the province of Khorassan in Iran. The jufti knot is created by tying a knot over four warp strands (instead of the regular two) making the weaving process faster. Since rugs made with such a knot are less labor-intensive, the price of rugs made with the jufti knot is usually lower. Knot density is a more important factor than knot type. If two rugs of the same size made by the same weaving group and with the same quality wool are compared, the one with the higher knot density is usually more expensive mainly because the higher the number of knots per square inch, the more time it would take to weave a rug. Return to Top Category Category refers to the setting where a rug is made. These settings include nomadic, village, workshop and masterworkshop. Category is perhaps one of the more important determinants in pricing a rug because in a way it determines what family a rug belongs to. Generally rugs of the same category are compared with each other, but within each category there are different families of rugs. The same way that we would never compare a workshop item with a nomadic item, we would never compare an all-silk curvilinear Qum rug with a wool geometric Heriz rug even though both could be made in a workshop because they don't belong to the same family. Age Age is an important factor in price of a rug because the older a rug is, the number of rugs available in the market with similar design and color combination are fewer, and this is one of the main reasons semi-antique and antique rugs are valuable. In addition, as rugs become older, their colors become more harmonious and that is a favorable factor. Condition The first important point to remember about the effect of condition on price is that condition is relative to age. A semi- antique or antique rug is not expected to be in the same condition as a contemporary rug in order for it to be considered a rug in good condition. The second point is that the value of some rugs decreases as their pile wears, but the value of some does not decrease and sometimes even increases. Some rugs simply look more attractive when they have no pile wear, and others look more attractive when they do. For example, certain workshop rugs such as Esfahan rugs which their value lies within their perfection, look better with no or little pile wear; however, the value of Bakhtiari rugs that are of village or nomadic nature can even increase as they become worn. It is important to mention that worn does not necessarily mean old. A new rug placed in a high traffic area could be as worn as an older rug placed in low traffic area. Finally, if rugs are damaged, their value can decrease. This is more of a factor in newer rugs.                                                                       RETURN TO TOP