On March 4th, Kaminski Auctions will have a significant rug auction with a liquidation sale of 292 rugs in one day at “no reserve” but with a minimum opening bid. Many are room size.
Rug News andDesign is interested in how much consumer online interest there will be in large rugs. The approximate asking price is $12.50 per square foot: $10 asking price plus buyers premium of 20% or 25% depending if the sale is direct or online. We will give you follow up after the auction.
When Rug News andDesign reviewed the sale, we thought that this was a very good inventory of “Designer rugs” and not just old inventory. It will be interesting for Rug News andDesign to compare results from this sale to Sotheby’s Viyet offering of 150 rugs putting Sotheby’s back into the rug business.
We suggest that you look at the rugs through Invaluable or “LiveAuctioneers” because their presentation has a larger format than on the Kamininski site, and the colors show better. The pictures on the Kaminski site reflect the haste with which the sale was put together and a smaller presentation format. When you see a picture where the rug bows out, like it was photographed with a fish eye lens, it probably was because the rug was too large for the shooting set-up.
In discussing this sale with Kaminski Auctions they said that millennials were buying scatter rugs at around $300, in bright colors, but not the traditional reds.