If your home features oriental rugs or you’re in the market for rugs for sale, there are some things you need to know. One of those things is that having a rug appraisal done is essential to figuring out your rug’s age, origin, and value. The value of oriental rugs changes over time as they age. The carpets become more and more valuable. This is why appraisals are helpful in making sure that your investment carpets are properly and efficiently insured. It is even more important to make sure that the format of the appraisal you are getting will stand up in a courtroom as well as with the government and insurance companies. If you’re not sure what goes into this type of appraisal, then it is a good idea to speak with an expert. The team at Royal Oriental Rugs in Tampa can help you learn what goes into having rug appraisals done and what you can expect from the process.
Everything You Should Expect from a Rug Appraisal
If you’ve been looking for rugs for sale, then you may need to look into rug appraisals as well. Having one of these done can help you learn specific details about your rug that you may not have known otherwise. These appraisals are helpful for both insurance and estate purposes, especially since oriental rugs increase in value as they get older. This is why having an appraisal done every once in a while can be beneficial to ensure your insurance is up to date. However, before calling an appraisal company and having an appraisal done, there are some things you should remember and keep in mind. You can find the top three things below.
- An appraisal should be updated between every five to ten years. This will change depending on the market trends, which can change the value of your carpet significantly. Without keeping your appraisals up to date, you may only be entitled to the rug’s initial purchase price if something were to happen or if it were to get damaged. Having an updated appraisal will make sure that your antique rug isn’t undervalued by your insurance company.
- Another thing you need to be sure of is that your appraisal is USPAP certified. The reason that you need to make sure that this is the format used is that it is widely accepted by the IRS and the United States government.
- It is critical to make sure that you know your rug does not always need to be there for an appraisal to be done. Of course, it is ideal if your carpet is present when an appraiser is completing the appraisal, but if that is not possible, providing detailed photos along with the proper documentation will work just fine.
Contact Us for a Rug Appraisal
Royal Oriental Rugs in Tampa has the largest collection of luxury antique oriental rugs, vintage rugs, and tapestries in Florida. We also provide our customers with exceptional carpet cleaning, rug repair, and pet odor removal. Call or visit us today if you’ve been looking for rugs for sale to find out how we can help you!