While we are all worried about the stock market – prices for antique oriental rugs and antique tapestries are booming. It is no secret that the recent stock market swings have left many long time investors scratching their heads. It has reach a point that no one seems to be sure what tomorrow will bring – European instability & USA debt issues have more to do with the ups and downs than the companies themselves. While the whole world is going nutty, one thing has remained constant – the demand for good and rare antiques.
One niche market that is still somewhat over looked is the antique oriental rug and tapestry market. While the market for the top artists has seen an epic spike in prices to sums that some of cant even begin to fathom – the antique oriental rug & tapestry market still has a lot of room to grow. The demand for good rugs and tapestries has seen a substantial increase (a long with their values) over the past 2 – 3 years but we are still, for the most part, looking at prices that are below $1,000,000 (a price point that would not enable you to get near to any of the great master paintings).
As the years go by and the supply dwindles there is no doubt that the price points will rise. So while we have seen a spike, there is still lots more room! The images below are of two pieces that sold only yesterday (in NY) - The 17th century Isfahan carpet sold for nearly $160,000 and the Tapestry sold for almost $450,000.
Where would rather invest your money? In an unstable market that keeps changing daily? Or would rather own a great work of art that will undoubtedly appreciate in value as the years go by? (plus you can enjoy its beauty every single day!)