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Impulse auction purchase - appraisal assistance please! (1 of 2 rugs)
Jaqi Offline
#1 Posted : Saturday, January 3, 2009 4:48:02 PM(UTC)
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Joined: 1/3/2009(UTC)
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Location: Washington, DC
I purchased two rugs today at an auction held by a reputable dealer in Washington, DC. My husband is skeptical of the value of the pieces, and has me nervous that I may have overpaid - I need your help! Please review the attached photos and let me know if the price I paid for this rug is in line with its value.
File Attachment(s):
Qum fringe and tag.jpg (1,253kb) downloaded 14 time(s).
Qum fringe and tag2.jpg (1,234kb) downloaded 13 time(s).
Qum discoloration.jpg (1,264kb) downloaded 21 time(s).
Jaqi attached the following image(s):
Qum front.jpg
Qum back.jpg
Qum KPSI.jpg
Qum pile.jpg
Qum pricetag.jpg
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Jaqi Offline
#2 Posted : Saturday, January 3, 2009 4:52:37 PM(UTC)
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Location: Washington, DC
Note that the tag price is significantly higher than I paid for the piece at auction - $600 + 12% fee.
RugPro Offline
#3 Posted : Saturday, January 3, 2009 5:16:09 PM(UTC)
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Welcome to the forum and thank you for sharing

It's a pretty piece. General info about the rug: KPSI is pretty high, somewhere around 650+ from this one photo, although it should really be sampled from several areas of the rug. I just had an opportunity to see these very quickly, but at a first glance what I can say right off the bat is the following. Assuming the rug is true silk, and that it is a rug from Iran and not a knock off from China, I don't think you did horrible. The rug has been subjected to a chemical wash similar to a "golden wash", which is somewhat unusual for silk rugs in general. The area you mentioned as having a "discoloration" is actually the original colors of the rug, which may have been covered by a tag, or possibly not affected by the dyes due to a stain. The rug probably had very bright colors. Some of these newer Qum rugs do, and are just not easily sold in the American Market. I would not be surprised if other select areas of the rug have come out similar. Main point, the discoloration is not that area, but everything around it. Not saying anything bad about the rug, because it does have decorative value and it is a very pretty piece, but it has some "issues" from a value standpoint other than the discoloration. First there is some creasing, this probably is due to a poor drying process, rolled up too soon while still wet, OR, (and this is not good), permanent tension change within the rug resulting from the wash.

I'm not saying you didn't get a good deal... In fact I really don't think you did "horrible" provided the wrinkles come out. But I think this is pretty much what would be considered close to a "sale price". What I can say, just as reference, is the "Retail Prices" (reminds me of this article)on that rug are almost insulting to me. Again, I don't think you did horrible with this piece, but I think this practice of inflating prices for the public is aweful. With many, many mentors over the years including my own experience, this kind of practice is bs.
RugPro Offline
#4 Posted : Saturday, January 3, 2009 9:44:54 PM(UTC)
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I have taken a much closer look at the Qum, you do have good taste because these are similar to rugs I would be drawn to myself, lol. Relatively speaking, it seems as though only very minute areas are not consistent with the rest of the rug. The KPSI is higher than most, design is good, and the rug has nice features. I think the tag said just under 9 square feet so $690 for the rug or $77 sq. ft. is a decent deal for this, it's not "super savings" like one would expect at an auction, but it's a fair amount better than the majority of Retail Store Prices (what the rug would normally be sold for at a sale price). Enjoy the two rugs.
Jaqi Offline
#5 Posted : Sunday, January 4, 2009 3:30:15 AM(UTC)
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Joined: 1/3/2009(UTC)
Posts: 4
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Location: Washington, DC
Thanks for your review of my purchases! My husband is trying hard not to gloat at me, and I'll be doing a lot more reading on RugRags to learn more about oriental rugs and how to avoid being suckered by tag prices and "deep discounts" in the future. In the meantime, the rugs will be beautiful in my home and I'm happy with my choices. The lone contemporary Indian rug (100% wool) I have in my living room cost more than both the oriental rugs together. I suppose that's some consolation!!
ruggalleria Offline
#6 Posted : Thursday, April 16, 2009 6:40:46 AM(UTC)
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Location: toronto
this rug probably had a dicoloration or water damage and the colors combined, in order to salvage it the did a chemical wash. $690 is a bit high perfect condition 1 is for a 1000..
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