Thank you for submitting your item for appraisal. This appears to be a very fine Tabriz rug, with a central medallion of mainly brick red color in a cobalt blue field, showing elaborate scroll and floral designs. Prices for oriental rugs have gone down through the past few years, due to indo-persian, pakistani and chinese "persian" rugs flooding the market. The current political situation might lead to a dried up supply of genuine persian rugs and an increase of prices. The estimate is based on auction results of similar carpets sold at auction. "Asking prices" in the trade can be much higher and vary.