Hello Jeff,
I don't think any of this is particularly surprising. 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. After years of service on the world's floors, many of them have now come to Istanbul where there is the expertise to restore them. Worldwide I think it is the largest market for antique rugs.
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!
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