Oriental and Persian rugs are unusual commodities, but they still can be a good investment. There are many ways that a person can invest in rugs. For instance, in the 17th century, there were rabid ‘Oushak’ rug and textile collectors who’ll compete for a fragment. Their focus wasn’t so much on the money they were making but rather the genuine love for the beauty and craftsmanship.
Often, a prayer rug or a tribal bag mounted on a wall is overlooked, but they make incredible pieces of art that could be sold at a fraction of the price of other arts. Investing in rugs is a wise investment, but it takes time and effort to make and display, and give some profit.
While people rush to buy new rugs from an online dealer, it’s essential to know that once they use them, their value decreases by at least half of what they paid for. Many individuals don’t exactly understand the importance of an old rug that’s why there is an aggrieved reaction when they are told of the resale price of a carpet that has been in existence for more than 30 years.
But of course, there are furnishing rugs, sold online and for lesser prices. However, they are ordinary and of poor quality, and they’ll not last for more than ten decades. You’d rather buy a rug which strikes a chord than buying one only because it matches the color scheme of your home. Persian rugs are quite expensive, and therefore, none of us will appreciate changing them after every five years, yet the original ones can go beyond thirty years.
To completely enjoy the experience of Oriental rugs, you should invest in high-quality ones. If money isn’t an issue, you could get the best Persian rugs in the market. However, these high-quality rugs with the finest of yarns, dyes and most knots per square inch are becoming unaffordable day by day because this generation has explored other “interesting” forms of work.
Most Persian rugs’ markets today, including in London showrooms and New York, only sell the low quality yet still, the prices are discouraging to an average buyer. But, one could decide to purchase such since, after all, a rug will always result in a higher return on the buying price when sold, only that it will take years before one could make a profit.
The good news however is, all hope is not lost. There are several ways to deal with initial dealer profit, and one of them is to attend auctions. In all countries, all the national auction houses have rugs included in their catalogue auctions. In fact, major houses like Sothebys and Christies, are really committed to selling these rugs. It’s no wonder they’ve dedicated in house experts to catalogue the carpets on view. If you decide to take this course, caution and patience are necessary when putting your rug into an auction.
You could also seek some advice from a resident expert. They’ll inspect the shape of the mats and pinpoint any particular flaws. And for those who have a trustworthy local rug dealer, they could request them to accompany them to the viewing day. You’ll then need to negotiate a sensible and fair selling price with the auctioneer.
Well maintained Persian rugs, even after twenty years of use, will still return the same buying price. But, it’s essential that you remember that, types and styles of rugs are always in and out of fashion. So it’s possible that your model might not be in fashion when you want to sell it.
For buyers who want to buy auctioned rugs, they should have in mind that they come with some disadvantages too. For instance, the carpet may have some faults, such as being resized, and it may be badly tensioned. But the biggest drawback to these kinds of rugs is that you can’t try them first at home to judge if they are suitable. However, if the carpet is the first item in the room, that shouldn’t be a problem. You can buy what you love and make some small changes from there.
And the internet also makes things easier as you can look up various manufacturers in the weaving countries across the world. However, care should be taken not to end up regretting your purchase and wasting your money.
All in all, Oriental rugs present an excellent investing opportunity. As long as you get the right quality and properly take care of it for the time you’ll be using it, you’ll be on your way to riches. But for people to even consider investing in rugs, they need to change their mentality and stop viewing rugs only as art but as a bonus that could make them extra cash.