The prices of rugs vary for many different reasons. First, there’s the knot count, which can range from 30 knots all the way to 1200 knots per square inch. The 1200 knot rugs are usually silk and very highly detailed, which will be more expensive than the average hand knotted rug. Generally speaking, the higher the knot count, the higher the price. However, 100 – 200 knots per square inch is considered to be the norm for most wool hand knotted rugs.
The size of the rug must be taken into account also; the larger the rug, the more expensive it will be (knot count considered also). The material used will also affect the price. Silk is usually more expensive than wool, however, the beauty of silk is cherished by rug lovers. Different grades of wool will also affect price. Lastly, the age of the rug can make a considerable impact on price. An antique rug is likely to be 10 times more expensive than a non-antique. In June of 2010, a 17th century Iranian rug sold at Christie’s auction for $9.6 million. Although this is not the norm for most antiques, it is certainly a prized item for collectors.