I have a similar rug left in inventory, however, I wouldn't call this a Tabriz. This rug looks to be an Esfahan rug, wool pile highlighted in silk on a silk foundation, circa 1980s. The color scheme is a bit dated, so rug sellers often have a hard time moving this type of rug. Even discounted, though, I don't think you'll find a better price anywhere than what this seller is asking (bid is at 103 pounds at the moment).

The photos of the rug show some sort of strange grey-ish discoloration on the border of one side. Might be the rug, or it might be the camera, can't tell. That might be something to check into before committing to buy.

The only thing that I think is priced incorrectly is your estimate for repair. I think that that is about twice what a fair price should be. Maybe you can look around? All together, try not to pay more than around $1500 in total for the rug+repairs. That is about what one in good shape would go for at a dealer...or what I'd sell you mine for if you're ever in the area! :) Best of luck!

Thanks Jahann. I have the rug now and it's not stained it's the way it reflects light. I really don't understand what the main part of it is made from. There are definitely real silk highlights, like you said, but the rest of it looks like wool, but it's different colours from different angles (hence the way it looks on the photos). Do they ever blend silk and wool together in the same yarn? I've also read about some special lambs wool that shines but would that give the different colours from different angles effect? Thanks for your help with this!

Re new fringe and selvages: If you look at antique wool/silk rugs, they often have no more fringe than your rug has left. So your rug does in no way look "fringe deficient", if anything, older, hence more valuable. Also, selvages don't have to be perfect. There is one corner where it looks as if the rug "unravels" a little, the rest looks more than fine. (There is enough of the beige guard border, none of the design pattern missing.) The unravelling corner should be fixed. Instead of new fringes and new selvages, you could simply have "the ends secured and the selvages, where loose, repaired". That should be a lot cheaper, and still will make sure your rug doesn't loose any more knots, plus you have a bit of the "true antique look" ... . You can also just cut the remainder of the fringes, so that it is a bit more even. That's what professionals also do, but it's a matter of taste.

It is a question of taste if to repair or not - so far I agree with the posts above. But looking at it from a european market view I would have the rug fixed properly. I would have new silk fringes + the kelim made and the new selvedge also. If the quoted price contains wash, moth protection, new fringes and kelim in silk and new selvedge I would say go for it. You got the rug for little money, and if you have it well repaired, it will be a real beauty.
The "antique" look might be attractive, but for a fine Isfahan like this a perfect like new look might be the better choise.