Thank you for submitting your item for appraisal. This appears to be a 20th century chinese Kerman rug, showing a cream and light blue color border with an allover floral pattern, and a single cream colour medallion in a scalloped red field. The persian inscription is very hard to decipher, this was most likely meant to look like the the name of the manufacturer. The lively red color is currently less in demand in the US, and rugs in general have lost value. The estimate is based on similar offered or sold at auction.