The appraised work appears to be a hand-knotted wool Caucasian area rug with red, mustard, pale blue and creme abstracted/stylized shapes and palmettes inside a central teal medallion on a vermilion field within three geometric floral borders and fringe edges. The estimate provided is based on comparables recently offered and sold at auction. The appraised work's size, complexity, materials, condition (based on photographs provided), as well as the current, overall market for comparable rugs was taken into consideration when determining the estimate. In many cases, pricing for similar examples available on the primary (retail) market vary, and are often higher than secondary (auction) market examples.