Well, the description of the rug (other than that it was hand-knotted in Iran) is a load of BS, but this is very common for ebay commercial rug sellers, sadly almost the norm. It doesn't say whether the rug is new. If it isn't new (as in not previously used), but has no flaws (repairs, stains, wear, dirt, etc.), the price you paid maybe ok. If it is new, the price is quite reasonable, I would guess. The seller has some negative feedback of the kind that would make me be careful, though. If you bought the rug for use and because you really like its look, it may be just the right thing for you. As an investment, it wouldn't be worth buying. Design is Ardebil.
ps: you may also want to have a look at the bid activity of the second highest bidder: 100% bidding with the seller, and bids on 31 rugs of the seller. This makes me guess that the seller thought they'd make a profit if they sell the rug for more than 674 USD, but of course that's just a guess.