Thank you for submitting your item for appraisal. This appears to be a persian Heriz rug from northwestern Iran, possibly dating to the 1930s. Prices for rugs in the 1970s were much higher than today, the demand for old rugs was intense and the supply low. The rug in your possession will need restoration after years of use. The estimate is based on similar rugs offered or sold at auction. "Asking prices" especially in the rug trade can be higher and vary. There is no measurement for the sentimental value you might attach to it.