Here we have the "big seven" essential
elements in determining what your oriental rug is worth. EACH Essential Element MUST BE Multiplied by a special MULTIPLIER for each Element....Knot Density x 11, Material Used x 7, Design Elements x 6, Colors, Blending, and Dye types x 5, Age x 3, Condition of Rug x 2, Demand and Availability x 2. Take all these new multiplied figures and add them all together. You must then take this total new point figure of all the Essential Elements and multilpy this new number by the CMF. This new figure should give you the retail price per square foot. As with all commodities, rug prices are determined between the buyer and the seller at both the production, wholesale, and retail level. In terms of discussion, we will concentrate on these elements as they relate to the wholesale and retail oriental rug market. Once you have mastered oriental rug valuation from a technical standpoint, then you need to know what value is placed on a general rug type within the oriental rug world. An example would be; "Is A new Heriz oriental rug more valuable than a Tekab Bidjar"? When I mentored under Caroline Bosly, one of the finest and most knowledgeable oriental rug brokers in the world, I quickly found out that even with all my experience, oriental rugs are still subjective to what the people "WANT" at a particular time. What is "in fashion" often has the most effect on the current price of a particular oriental rug. The question poised for the smart buyer is, "Is this rug worth the price being asked"? Often, what is "in fashion" demands prices well beyond reasonable valuations, and are often subject to sharp downturns in price. For now, we will focus on the SEVEN ESSENTIAL ELEMENTS.
Knot Density
After many years of experience, you will be able
to look at the back of a rug and be within 10% of the actual knot count. Knot
count is based on taking the number of knots/nodes and counting one inch in each
direction, and then multiplying these two figures together. When you look at the
back of a rug, first make sure that you can find one node color by itself. If
two colored nodes are always together, then you have an oriental rug that is not
fully depressed, and you are seeing both sides of the knot. this means your
figure must be divided by two, to get the actual knot count. It is best to do
this counting in a few places on the rug to get an average count. Being hand
knotted, this figure may vary by 10%.
Knot Density
Table
Points
675 and
above
10
575 to
674
9
425 to
574
8
320 to
424
7
245 to
319
6
180 to
244
5
140 to
179
4
90 to
139
3
64 to
89
2
37 to
64
1
0 to
36
0
Materials Used
Points
Silk on
silk
10
Kurk Wool on silk/fine
cotton
9
Fine wool w/wo silk inlay on
cotton 8
Good wool
"
"
7
Std. & Shanghai wool on
cotton 6
Std. wool on
wool
5
Mercerized cotton/ low quality wool
4
Dead wool on
cotton
3
Dead wool on
wool
2
Dead wool on
jute
1
Cotton on
jute
0
Design Elements
Points
10 points - Minutely detailed curvilinear patterns cover the
entire
background.
8 points - Minutely detailed rectilinear patterns, or fine
curvilinear
throughout.
7 points - Picture/portrait rugs, moderately floral
curvilinear designs
w/without a medallion, fine Turkoman (Bokhara)
5 points - Moderate angles/curves, allover designs,
open
areas
4 points - Less detailed rectilinear/curvilinear designs
like Heriz, and
open-field Kirman.
3 points - Simple and/or repeating patterns like Turkomans
with large
guls, often called (elephant foot prints).
2 points- Carved Chinese 120L or
above.
1 point - Carved Chinese less than 120L, Indo Aubusson/Savonnerie.
0 points - One color rug carved, plain
rug.
Colors, Blending, and Dye types
Points
10 points - (15) or more colors and shades blended in perfect
harmony.
Rug may
be either Jewel or Antique tones. Top quality
vegetable or Chrome
dyes.
8 points - (10) or more colors and shades blended in perfect
harmony.
Not quite the "WOW" feeling. More Chrome dyes being
used.
6 points - (6) or more colors that blend well. No single color jumps
out at
you.
Most modern quality production falls into this
category.
4 points - (4) or more colors that blend. Nothing knocks your socks
off
here.
Middle quality Kirman, Turkoman, Kurdish,
Heriz, and the
like.
2 points - (4) or more colors with the insertion of a color that just
does
not quite fit
the blend. Many tribal oriental rugs fall
into this category using a "hot,
or electric" color.
1 point - (3) or more "hot or electric" colors that do not blend,
rugs
with a bad
antique wash, and rugs that have been overly
toned
down.
0 points - Oriental rugs with colors beyond help, even with
chemical washing.
This group also includes single, or
two-toned
rugs.
Age
Points
10 points - 100 years and older (antique)
8 points - 70 years and older
(semi-antique)
6 points - 50 years and older
(old)
4 points - 30 years and
older
2 points - 20 years and
older
1 point - Below 20
years
0 points - Below 10 years (considered
new)
Condition of a Rug
Points
10 points - Oriental rug is "like new". The rugs
entire pile is present, including the fringe, side cords, and selvedges. There is no damage to this
rug. Antique, and semi-antique rugs a rarely found in this
condition.
9 points - Only fringe shows some wear, and
pile is even throughout. The other conditions of the rug remain perfect.
8 points - The rug pile is worn evenly, and reduced in height about 1/4th
of
an inch. There may be a few professional repairs not apparent under normal examination.
7 points - This oriental rug is still in excellent condition despite the
past owners not washing the rug for many years, if at all. This happens to many rugs.
The wash will significantly raise the value, or lower the ending
value.
5 points - Rugs in this group have an even pile height slightly above a
1/4 inch. Their may be some minor repairs needed. End-stopping may have taken away some of the sub borders or border
guards.
4 points - Pile of rug remains even and between 1/8th and
1/4th of an inch.
No stains are present, that cannot be
removed.
3 points - Pile less than 1/8th inch high. Foundation is
starting to show in
several places. No serious stains are present. The oriental rug may be restored
at considerable expense.
The rug may not be placed in a high traffic
area.
1 point - This rug needs major repairs. Part of the ends
or sides of the rug are lost. Stains are permanent. Major re-knotting may be
needed.
0 points - Rug is cracking. or is beyond repair, to return any kind of
value.
This situation comes at you more quickly the lower the quality of
rug.
Demand & Availability
Points
10 points - Rare
antique oriental rug
8 points - Semi-rare
antique oriental rug
7 points - Old rug not being produced in any real
quantity
6 points - Old rug still produced, and specialized
"reproductions" of
antiques
5 points - New high quality oriental rug not being produced
in any real quantity
4 points - High quality rugs still being
produced
3 points - Good quality rugs still being
produced
2 points - Average quality rugs being
produced
1 point - Bazaar quality rugs being
produced
0 points - Low-end mass produced
rugs
Summary of Value Points
Adding all the value numbers for each category
will give you a sum total. If you multiply that sum total by our "CMF--
Commodity Multiplying Factor" for each rug, you will arrive at a normal acceptable retail
price point for a particular rug. Dealers may charge much more, or less for any
particular rug. That is their option. It is your option to be informed an
educated on such when you purchase. Oriental rugs are commodities subject to supply and
demand. The "CMF" will change constantly within the rug markets
of the world. An Oriental Rug Broker is always abreast of these changes in
supply, demand, and associated price. The retail buyer is not. This formula is
to be used as a guideline for determining rug quality and value, but like any
present formula, it is subject to adjustments for market conditions. If you want
to know general retail prices right at this moment, you have two choices. You may
"trust" your local dealer, or rely on an Oriental Rug Broker who not
only knows what a rug should retail for, but also the wholesale cost. We will try to list
a good cross section of oriental rugs in our CMF Listing. We will try
to place many well known rugs in the list. The CMF changes constantly
during the year, based on supply, demand, interior design trends, politics, and
the cost of producing the rugs! The few brokers out there, have an internal
history with rugs including a vast array of present knowledge. Oriental Rug
brokers do not need to rely on these formulas, as we work the oriental rug
market every day. Very few brokers take the time to explain and teach about rug
quality, and why a prices is.....what it is!!!! From our formula,
"clients" may begin to understand rug valuations, and more easily
identify inequities in the market. This leads to buying rugs at great prices due
to the somewhat limited fluidity in the rug markets. Long shipping times, remote
regions, and political unrest, all contribute to this market not always reacting
"in sink"! We have randomly selected several rugs, providing a total
value for each particular rug, to give clients a general overview of many of the
oriental rugs in the marketplace today. At then end of the list, we will make
some comments on the current market, and how you may benefit from such
inequities. Remember each rug is different, even those within the
same type!
"CMF" - Commodity Multiplying
Factor
Rug
Type
Points CMF
Retail Price*
China
90 line
carved
102
.1961
$ 20.00
160 line
Sino-Persian
179
.2877
51.50
230 line
Sino-Persian
230
.3690
85.00
Pakistan
16/18 Pak/Persian (seven
qualities)
240
.3583
86.00
11/20 Bokhara
162
.2160
35.00
India
20/20
Indo-Persian
280
.4107
115.00
14/70
Indo-Persian
244
.3525
86.00
12/60
Indo-Persian
207
.2899
60.00
9/60
Indo-Persian
150
.2533
38.00
Jaipur
9/9
127
.2519
32.00
Nepal
70 Knot Art Deco or
Traditional
139
.2878
40.00
Persian (Iran)
Heriz (city workshop/good
quality)
126
.2540
32.00
Qum- silk-450
knots
278
.8992
250.00
Qum- kurk (lamb's)
wool
259
.5792
150.00
Isfahan- 650
knots
311
.7234
225.00
Tabriz- 50 raj
261
.3488
90.00
Bijar
255
.2941
75.00
Gorovan (low quality Heriz)
86
.2209
19.00
Heriz (pre-1945, very good
quality)
162
.4198
68.00
Zenjan (poor man's Bijar)
186
.2473
46.00
Hamadan- Bazaar
quality
124
.1532
19.00
Nain- 650 knots, silk
inlaid
319
.7532
240.00
Antique Heriz/Serapi
249
.9036
225.00
Meshed (Bazaar-commercial
quality)
148
.1622
24.00
Kashan (Bazaar-commercial
quality)
148
.1757
26.00
Painted Sarouk- pre
1940's
227
.7048
160.00
Afghanistan
Baluchi-
pre-war
135
.2666
36.00
Baluch-
post-war
135
.1259
17.00
Chobi- veg. dyed
9/9
129
.3255
42.00
Turkoman (Mauri)
fine
199
.2261
45.00
(*) The retail prices shown are based on the
average mark-up in the oriental rug industry. The range retailers charge varies
between 60-300%. GOB's (Going out of business sales) inflate their prices often
more than 1000%. It is very expensive for a retailer to place millions of
dollars of oriental rug inventory on the floor. Retailers pay rent, insurance,
utilities, advertising, employees, benefits, transportation, and numerous other
monthly items. Retailers should be allowed to charge a reasonable profit to
cover these expenses. If you are paying substantially less than average retail, there
is a reason! Often the retailers reason for such a price reduction has
nothing to do with what reason the retailer gives. Often, it has more to do with
the rug itself. The buyer is armed with little or no knowledge, and often is
taken advantage of under these circumstances. At Oriental
Rug Merchant,
we pride ourselves in providing you with the knowledge to understand and
communicate your needs in this highly specialized industry. Remember, "retail
prices and the CMF" are constantly changing. The above listing
is only a general guideline, and not to be construed as what price you should
pay.
As to the list above, here a a few mental notes
about today's oriental rug market.
