Are your investments tied up in knots?

A magnificent carpet from Isfahan, central Persia, knotted around 1600, went under the hammer at Christie's Auction House, New York City, on the 3rd June. It sold for an astonishing $4,450,500, the highest price ever paid for a carpet at auction.

Estimated to sell at around $1,000,000 to $1,500,000 the 7'7" x 5'7" (2.35x 1.75) carpet with silk foundations exceeded all expectations at auction. Knotted with perfect technique by master weavers some time at the zenith of the Safavid art period during the reign of Shah Abbas (1587-1629), the rug embodies the wonderful charm and imagination for which Persian rugs are world renowned.

Sadly, with the changing lifestyle in Iran (Persia), rug weaving is becoming a dying trade; these rare and beautiful masterpieces will become evermore sought after by collectors and museums alike. Rugs woven in Iran today are becoming more expensive to source year by year to the extent that rugs from Afghanistan, India and China have become more popular with rug traders due to their relative value and affordability. Persian rugs from Iran are still by far the finest and most prestigious handmade rugs in the world.

With the recent uncertainty in the international banking infrastructure and a recession looming over the heads of many, investing in just about anything at present is an uncertain task. However, there are still few ways to keep your money secure in today’s market: gold bullion, safety deposit boxes, and last but certainly not least hand-knotted Persian rugs. With a bit of knowledge and relatively a modest investment one could be making a sound investment whilst enjoying the ever lasting splendor on daily bases.

A fine hand-knotted Persian rug usually takes several years to produce; a large Persian rug of excellent quality today could run into the tens of thousands of pounds. However, if you are willing to take time, you may just find a piece of Eastern treasure at excellent value buried away at your local Persian Rug gallery. Many specialists will have sourced some of their best rugs several years ago when prices was more favorably matched with demand and may be able to offer you some of Iran’s finest exports at a price which won’t have you competing with the world’s top museums.

Little-Persia is a specialist in Persian and Oriental rugs situated in Glasgow just south of the city centre. Operating for the past 5 years from his Commerce Street gallery Dr. Reza Cheshmehdoost has vast experience in sourcing the best selection of rugs the Persian gulf has to offer; prior to going it alone Reza worked to source rugs for many of the other rug specialists based within the UK.