Hello, this item is a hand knotted wool rug from Iran, most consistent with a Turkmen or Bokhara type carpet produced in the second half of the twentieth century. The repeating rows of octagonal gul motifs arranged in vertical columns on a deep red field are characteristic of Bokhara style carpets that were widely woven in northeastern Iran and Afghanistan during the twentieth century. The close photograph of the weave shows a relatively dense knot structure and a wool pile with cotton or wool foundation, typical of commercial export carpets made during the 1960s to 1980s period. The border pattern and color palette, dominated by reds, burgundy tones, and dark geometric ornament, align with traditional Turkmen inspired decorative vocabulary that remained popular in export markets during the 1970s. The dimensions of approximately 6 by 4 feet correspond to a common small room or prayer size carpet.

Rugs of this type were frequently purchased by travelers in Iran during the 1970s before the Iranian Revolution, and many entered Western households through tourism and expatriate trade. While well made and durable, these carpets were produced in significant numbers for export, which keeps their market value moderate despite their attractive design and good condition. Comparable hand knotted Iranian Bokhara style rugs of similar size and age typically sell in the secondary market between $250 and $600 USD depending on knot density, wool quality, and condition. Given the visible condition and the standard size of the example shown, a reasonable current fair market value would likely fall in the range of $300 to $500 USD.