Protecting and Valuing Your Legacy
Your handwoven rug may be a family heirloom and a valuable asset. A professional appraisal puts its value in writing and helps you in three situations.
Insurance and loss protection
A written appraisal documents your rug’s value in case of damage, fire, or theft, and supports any claim you make. Standard homeowner’s policies often don’t fully cover fine handwoven rugs. Ask your insurance provider about a separate rider for your rug.
Estate planning
Rugs passed down in a family often have no paperwork. An appraisal gives a current value for estate planning and for fair distribution among heirs.
Charitable donation and taxes
If you donate a valuable rug to a qualified charity and itemize your deductions, the IRS may require a written appraisal to support the deduction. Rules depend on the value of the donation, so check with your accountant or tax advisor before you donate.
Ready for an appraisal? See how our virtual rug appraisals work
Questions? Contact us
Telephone: (847) 382-1031
Email: info@thepersianknot.com
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