Large oriental rug bought in paris

Jun 30, 2020. 22:14 UTC
Large oriental rug bought in Paris
Michelle
United States of America

Category
Rugs & carpets

Acquired from
Inherited

For sale
Yes
Description

We inherited this rug. All we really know about it is that it was bought in Paris sometime between 2000 and 2003. It measures 13.8 x 19.6 ft. We are pretty sure it is hand woven.

Provenance

The family that owned it before us had it in the vacation home in Miami. They bought the rug in Paris and had it shipped here.

Answered within 9 minutes
Jun 30, 22:23 UTC
By Delia

Fair Market Value

$1,000 - $1,500 USD

Insurance Value

$2,500 USD
What does this mean?

Hi Michelle,

Thank you for contacting Mearto with your appraisal inquiry.
Based on the photographs and information provided, and subject to examination, this is;

An Aubusson style hand-knotted needlepoint carpet
French, late 20th Century or later
in a floral pattern with a Greek key border entwined with flowers
13.8 by 19.6 ft
PROVENANCE: inherited; purportedly acquired in Paris circa 2002
$1,000-1,500*
*represents a fair-market value for auction purposes; retail or asking price may vary.

Michelle crowe Jun 30, 23:37 UTC

Thank you for the appraisal. I do know that the family that bought it paid around 60,000.00 USD. What would be the reason for such a lower appraisal? Thank you.

Delia Jul 01, 10:18 UTC

The $60,000 would have been a retail price and an appraisal at the time would have been for retail replacement; fair-market values are quite a bit lower. An additional factor to consider is that rugs very rarely appreciate in value and depreciate quite quickly.

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