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Old March 26th, 2013, 12:03 PM   #7
Jeff Sun
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Join Date: Jul 2008
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Quote:
Originally Posted by Alex Wolfson View Post

After all, a lot of Caucasian rugs were woven at the end of the 19th and early 20th Century - by all accounts significantly more than Anatolian pieces....

The prices do not seem over-inflated to me. I don't see why an antique rug should be much cheaper in Istanbul than in New York. There is steady inflation in Turkey, so overheads are not as low as they used to be. And the dealers have to pay the same for the pieces as anyone else. The main difference is that a Turkish dealer will start with a higher price and expect some bargaining, whereas in the Western world you are likely to be given the final price (or close to it) at the outset. It is simply a difference of approach and expectation!

Hi Alex-
It's not a matter of negotiating style. You'll note that I mentioned that both the NY/Istanbul prices are pre-negotiated.

It's a matter of Pareto efficiency. When a good has a high supply, the price goes down, when it is rare, they go up.

As you observed, Caucasian rugs, both when they were made, and currently, are "common" as far as antique rugs go. More common perhaps than Anatolian rugs and certainly more common than other more exotic types, the latter often commanding lower prices.

Yet the prices of the Caucasian carpets do not seem commensurate with the high supply.
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