Appraisals & Valuations
The rug that you ask us to appraise will be seen by three specialists (two minimum) whose combined experiences exceed seventy years. Established in 1968, we know Oriental rugs.
While there are various reasons for appraisal, here are a few:
- Insurance purposes (e.g. your fire-insurance claim and replacement value)
- Legal purposes (e.g. damage indemnification, divorce lawyer, etc.)
- Resale value
- Inheritance (read our case)
- Purchase for museums
- Many other personal or official reasons
Our appraisal price is U$100 with a paragraph in writing. For U$ 130 in total, we send an in-house certificate and a report. The report will be kept in our database unless you request us to delete. Advantage of asking us to keep the record is that you need to retrieve it again in the future, we can provide it to you. It also adds value to you, purchaser of your rug or your children if they inherit as they will take the rug more seriously and gratefully.
Our appraisal will include the following:
- Assessment of such details as origin, age, conditions, knot-count, dye, overall quality, medium used in making the rug, craftsmanship, design, and more.
- Estimated value and market price. (For this purpose, there is a clear distinction between a value and a price. A value in this sense is intrinsic and can be realized either in the short- or long-term whereas a price may fluctuate and is an amount that another buy may be willing to pay at a given time. Should the rug have a design and style that are popular currently, that the current price may be inflated relative to the value. Our recommendation is: Sell the rug if the price be significantly greater than its value. Likewise, for the purpose of appraisal, value and price are not the same thing; therefore, the terms should not be used interchangeably.)
- We will address any other concerns and comments of yours.
Please note that we, Dena Rug, do not try to up-sell our services by soliciting for additional services such as repair and restoration when you retain us for an appraisal. It is completely up to choose as you see fit. As a matter of a fact, for an antique rug, you should be prudent with repairs as another buyer may or may not prefer any repair done onto an antique rug. It really depends on the conditions and what type of repairs. For instance, when we buy an antique rug, we prefer to buy it as-is just because we have our own in-house capabilities to repair, restore, and clean. Such services are not our core business but for convenience to those clients who choose them. Again, we do not solicit for additional services, and we are indifferent whether you select for more or not. We are as straightforward as possible.
