Quality	Service	Uniqueness	Value

Persian Rug prices

UPDATED 12/01/08

Update: 12/1/08

Finally, some good news!!
Once again, I want to share with you my latest findings after returning from my trip overseas.
Since 2003, the prices of Persian rugs have more than doubled and there is finally some good news to report, which I have been hoping for some time now.  With the current global economies fallen of the cliffs, our US dollar seems to have come back to life,  which has had a direct impact on the prices of Persian rugs.  For the first time in 5 years, I have been able to lower my prices by around 15% and I am hopeful that this trend will not reverse.

Please note though that the lower prices are mainly due to the rise in the US dollar and not the slowdown in the varies economies.  Even though the Persian rug market as a whole has slowed down, so has the rug production in Iran and their inflation of around 25% is still keeping up the prices.  My plan is to travel overseas again in 4 months and by then I should have a better picture of whether the price reduction is temporary or permanent.

Take care,
Mike

Update: 1/7/08

One word sums it all up: UGLY!!!
Got back from my trip a couple of days and as always, I'm completely jet-lagged.
Last year, I thought I had seen it all and once again I have been completely wrong about the prices of the high quality Persian rugs, especially the Tabriz and Qom pieces. In 2007, the Tabriz and Qom rugs have gone up in price about 30%, yes, that is 30%. Nain and Isfahan rugs have gone up about 10%. The main problem continues to be the high inflation in Iran, officially at 15% but in reality closer to 25%, and the continued weakness of our US dollar.

The prices in Tabriz and Qom are going up higher simply because more and more folks are giving up the rug business altogether. In places like Khoj, which is a small village where the Mahi (fish) design Tabriz rugs are made, the production is now about half of what it was just 5 years ago and as a result, the prices are just shooting up. The same is happening in Qom as well.  Prices in Nain and Isfahan are going up, but due to their traditional designs, there are still plenty of rugs to choose from, and therefor the prices will not climb as quickly.

My goal was to purchase about 30-40 rugs and I only ended up with 17 instead. I will be going overseas again in a few months and will update you again as soon as I return. Take a look at the 3 Tabriz rugs further down and you can see how the prices have changed.

Below is an much more detailed article about the overall situation and I will update this page again after my next trip.

Take care,
Mike

Update: 4/17/07

Got back from my trip overseas last week and just recovered from a bad case of a cold and jet-lag. The price of Persian rugs is still going up and it appears that the inflation rate in Iran is stabilizing at around 15%, but the weak dollar is having a huge impact as it has for last 3 years. As of mid April, the US dollar is approaching a new record low against the Euro and it is already at a 15 year low against the English Pound and many other currency. Do not expect any relief any time soon.

Below is an much more detailed article about the overall situation and I will update this page again after my next trip.

Take care,
Mike