I plugged the values given by the seller into Rug Rag's "Estimator Pro" and was given an approximate value of $144 (a far cry from the seller's listed $3000+ retail). And, like I said, that was using information THEY provided. Personally, I think that the knot count may be lower than they stated, and I think that I would list this carpet's condition as "fair" not as "good." SO that being said, I think that the $144 would be more than appropriate.
The problem is the serious wear- that is the foundation showing in a number of places. While this seller seems to be very forthcoming with these problem areas (just look at the photos), these carpets are not collectible and in the industry they are considered less than "seconds goods." Yes it is a handknotted wool on cotton carpet, but by no means would a carpet of this vintage and this condition go for a retail value of $3000+.
HOWEVER: This carpet does have a good amount of appeal. Aside from the seriously worn areas, the general wear is pretty subtle, which allows the carpet to maintain an attractive look. Like we've heard so many times before: beauty is in the eye of the beholder. A carpet's worth is what you are willing to pay for it...
Take a look at some sales that have completed
similar carpets with "Frahan" attribution (I have never heard of a "Frahan" but to each his own...)