Why Now May Be The Best Time To Invest In An Oriental Rug
On September 28, 2010, the United States initiated another embargo with Iran, prohibiting the import of any Persian carpets into this country. Our last embargo began in October of 1987 and lasted until December of 2000. So, we had almost 10 years of free trade with this country. We are unsure of how long this new restriction will last.
What does this mean for the future of Persian rugs in America? During the past ten years, Persian rugs were our most popular and best selling pieces. They ranged from the traditional rugs of the Bidjar, Heriz and Sultanabad regions to the contemporary Gabbeh rugs which appealed to a new generation of collector.
The strong relationships that were developed between the village weavers, importers and dealers, have produced rugs that compare in quality to those made over 100 years ago. At J. Namnoun we contracted with small artisan workshops who returned to the use of vegetable dyes and hand spun wool, creating individual works of art. These rugs will be the antiques of the future; a strong contrast to the over processed, chemically dyed, mass production rugs of the post WW11 era. This embargo will do nothing but hurt the small businesses and individual workers in this country and abroad who depend on this industry to survive. It will have no effect on solving the political differences between the United States and Iran.
Due to worldwide economic instability in the last few years, production is down almost 40%. There have been increases in labor and in the cost of raw materials. The prices paid on the international market for fine antique rugs has never been higher. But there are still some bargains to be had. Fine Persian rugs that were brought into the country just before the embargo will only go up in value as the supply diminishes.
If buying an original Persian rug is something you have been considering, now is an opportune time. Come visit us at J. Namnoun and view tomorrow’s antiques today.