What should I check for when buying an old rug?
Since I’ve been buying and selling rugs for more than ten years, the most often inquiries I receive are: What should I think about before purchasinga antique rug? Where can I find old rugs to buy? Where can I really start looking for an antique rug to buy?
First of all, the best antique rugs are sought after by dealers, designers, auctions and collectors worldwide. In contrast, antique furniture or works of art must be at least 100 years old. This is one of the contrasts. Art will therefore always appear fresher and endure longer. It’s a myth, though, that old rugs are more expensive than new ones. In today’s market, a new rug may cost $80 per square foot.
This is the typical cost. Better-quality rugs might cost more than twice as much. For instance, a new 9′ by 2′ rug may cost around $8,600. Keeping in mind that rugs in this price range won’t always be of a professional standard or be beautiful pieces. We’ve seen brand-new 9′ by 12′ carpets go for well over $20,000. So, my point is quite straightforward: why not buy a rug with resale value if you’re going to spend so much money on an ancient rug? New rugs are lovely, but they don’t have any fundamental worth. The same guidelines would apply if you had spent $30,000 on a brand-new automobile. The moment you leave the showroom with the vehicle, its value immediately drops.
As a result, before picking the ideal rug, you should think about the following:
Among the few variables that must be taken into account are the budget, the present state of the design market, size, quality, age, and condition.
- Budget – The cost of carpets, both new and old, varies substantially. The price discrepancies might be attributed to several factors. Some of these motives include:
- A rug’s status as a must-have in the present market will depend on its patterns, colours, trends, and appearance. Obviously, everyone has different tastes, and the final choice is quite personal. Every market is unique as well. For instance, the American market prioritises ornamental items. We live in a beautiful society. We choose our items based on hues and patterns. Selection in other marketplaces is based on quality. Taking the European market as an example.
- Based on quality, Europeans will spend more money on an old rug. The pattern of an antique rug, such as an Oushak rug, also has a significant impact on its pricing. Consider medallion rugs vs carpets with an all-over design. Rugs with an all-over design cost at least 30% more than those with a centre pattern. Everything in the American market should be focused. In order to completely match the rug in the room with the other furnishings, we frequently choose rugs with centre designs.
- Size: To choose the right-sized rug, measure the available space. In a room, a rug can be positioned in any way. In a big space, some individuals prefer a tiny rug. Some people prefer it when the rug is the precise size of the space. Usually, size is where people begin to compromise. They are quite willing to give up on size if they locate an antique rug that they fall in love with because of its colours, pattern, pricing, or style. New carpets are priced according to their square footage. The price of the rug will increase with its size. For instance, it is not uncommon for an ancient rug (5′ x 8′) to get $10 million at Christies London.
- Quality: A new rug takes longer to weave if there are more knots per square inch. For vintage rugs, the same principle holds true. The two items’ attributes are contrasted; they are from the same place and date of manufacture.
- Age: The oldest and most valuable antique carpets belong to the 18th century.
- Shape: It makes sense that the more in excellent condition an antique rug is, the more it will cost. At some time, antique rugs will require restoration and maintenance.
- Look, the majority of upscale decorators concur that the room’s most expensive item should be the rug. Therefore, it makes the most sense to buy an antique rug first, followed by the other furnishings. Finding the ideal rug that you like will not be simple. It requires a lot of work and time. You may compare carpets to your particular taste by first looking at what is currently available. Online, there are several options. The simplest method to locate a rug you adore is in this way. The Nazmiyal Collection is one excellent website.
- The collection may be browsed for hours or even days. This website is the greatest online source of excellent art and knowledge and offers one of the most extensive selections of things like Antique Oriental carpets and Vintage Moroccan carpets. Additionally, there are several nearby local rug merchants. This is another another excellent method for getting a sense of various styles, hues, varieties, and pricing points.
Make sure the vendor you chose has a good reputation and a wide variety. Instead of a lesser dealer who often only has one or two pieces available, go for an established dealer who has been in business for a while.
Reputable collections will be offered by larger dealers. If you’re looking for high-end carpets, ask friends, relatives, and coworkers for recommendations. Once you have reduced your options, compare prices. Before you decide to purchase a rug, visit multiple merchants and conduct an internet search to get a sense of all the factors.
Also Read Custom Rugs For Residential Interiors
Once you place it in your room, you will know you made the right choice. Some trustworthy internet sellers will assist you in the same way. They’ll offer to cover the cost of mailing your items. It is imperative that you study the merchant promises for shipping and return policies or make inquiries about them. You should get a written copy of the guarantee from the vendor.
You ought to have faith in your decision. For the same product, various dealers will charge different prices. As a result, you ought to have a general notion of what you want to buy. Request written documentation from the merchant detailing the age, description, price, and condition of the rug. If you haven’t damaged the rug, some high-end sellers may actually let you swap it for a different size or style. Rug dealers often stand behind the cost and selling of their products.
If you decide on a high-end rug, you should absolutely have an independent assessor inspect it before concluding the transaction. You want to make sure you are getting the best deal because this is a significant investment. Never ask a rug merchant to appraise your rug since most won’t be honest with you. Pick between Christie’s and Sotheby’s. Both of them are respected auction houses.
Request their advice for an impartial appraiser. The dealer won’t object to your request for an evaluation if he’s an honest one. It would probably be wiser for you to walk away from that sale if you believe the dealer is dishonest, he doesn’t feel comfortable with your request to have the rug evaluated, or he treats you unfairly.
Be on the lookout for closing-down bargains. They frequently deceive. Another reason not to purchase a rug from a store that is closing is that when the store shuts, there is no way to exchange or return the rug. The rug shouldn’t be on sale since vintage rugs are in demand and have a set value.
Choosing between purchasing from a dealer and buying at an auction: Knowledge is power everywhere, and if you know what you want to purchase and are familiar with market prices, you can find fantastic offers. Purchasing through a dealer as opposed to bidding at an auction has the following advantages:
- You may sample the rug in your room before purchasing, and the vendor will work around your schedule.
- Delivery is a significant advantage. If you buy your rug from a nearby retailer, he will deliver it to your house and lay it down for you.
- Restoration – Reputable merchants will clean or repair the rug before sending it to you, unlike when you buy at an auction when you must pay to have the rug restored.
As previously mentioned, you may locate a decent deal if you educate yourself about purchasing an antique rug beforehand. Another disadvantage of purchasing a rug at auction is that you must pay a commission, obtain your own repair estimate, and have a certain price in mind before bidding. Make sure the bidding procedure has a maximum cap so you don’t pay more than you intended to.
In the case of falling in love with a particular rug, individuals frequently overbid. They ultimately spend more money than the rug is worth. Risk is a part of bidding. You must decide on the highest price you are ready to pay if another person has the same level of interest in the rug as you do in order to stop the price from rising once a rival begins bidding against you.
How much is the rug? An antique rug’s value might vary significantly since consumer preferences are always shifting. As a result, attempting to compare carpets with those in an auction catalogue or with similar rugs will be a waste of time. Call a reliable dealer instead, email him images, and specify the kind of evaluation you want to obtain.
- If you are willing to sell the rug, you need find out how much the dealer is ready to offer.
- Do you want an evaluation of the fair retail market value? This is the amount a dealer expects to get from a retail client.
- Are you trying to discover what the rug’s fair trade value would be and are looking to replace it?