A great rug will really complete a room. It can add just the right splash of color to that large open space and really “tie the room together” as they said in The Big Lebowski. A nice rug adds comfort for family members who like to hang out on the floor. And rugs help keep the house warm in the winter. But another interesting and valuable aspect of owning a premium hand-made rug is its resale value.
That’s right, a great rug actually appreciates in value over time. This will come as no surprise for anyone who is a fan of collectibles, antiques or vintage gear of any kind. The more time that passes, the rarer an object becomes. Time + scarcity + quality = value of an appreciating asset.
A nice rug that your grandfather purchased when he was traveling abroad 50 years ago can easily be worth 10X,20X, even 100X what he paid for it, and yes, I am accounting for inflation.
An extreme example of this is a 17th-century Persian rug sold for over $33 million at Sotheby’s in 2013, illustrating how age and rarity drive appreciation. That extreme example aside, large premium rugs between 50-100 years old sell for 10’s of thousands of dollars every day. Quality craftsmanship, origin, materials used, and condition are what make a rug valuable. The market, and what someone is willing to pay dictate the dollar value.
By all means a person should purchase a rug that they think will bring an aesthetic and comfort value to their home. Those are the main reasons for having a rug. And if it’s a really nice rug it will most likely increase in value the older it gets.
An old worn rug is no exception. There are specialists that can bring your rug back to life and have it look almost brand new. But before you try to rehab an old rug which may have value as an antique, make sure to consult an expert. They will make sure you are aware of the risks of having it altered in any way. If you decide to move forward with a rehabilitation, make sure the contractor is properly vetted. Ask to see examples of their work and try to get a guarantee in writing.
