Despite Woes Antique Rug Market Carries On


Top Antique Dealers Adding to Their Collections

NEW YORK, NY – Despite worldwide economic woes, Hagop Manoyan remains optimistic about the antique rug market. Manoyan, owner of Hagop Manoyan Antique Rugs, believes the market will see further improvement after April. He recently returned from Europe with 33 fresh, collectible, decorative rugs, which have been placed on display in Manoyan's New York gallery, as well as online.

Antique Rug Market On The Rebound

"I see this trend year after year. The antique rug market tends to slow down as the US tax deadline approaches, but after April fifteenth it tends to turn around again," explained Manoyan. "The collectible rug business, much like the stock market, is very psychological. A little good news can go along way toward encouraging people to buy rugs and invest in their collections. We are still doing quite well despite the economy, but I would happily welcome even more positive economic reports."

In addition to the sagging economy, there are other factors that directly affect the health of the rug market. Excess supply, too many antique trade shows, consumer confidence, and an aging population of educated collectors are all affecting the antique market.

Too Many Trade Shows

"A problem I see in today's rug market is an overabundance of antique trade shows taking place in and around Europe and the United States," said Manoyan. "And in addition, many of the most highly respected and educated rug collectors are getting older, and it takes time to train younger ones. But like any other business, the rug collecting business is driven by consumer confidence. If a person understands the value that a high quality antique offers, they are going to be more apt to invest. This is why I believe honesty is key to success in this industry, and why I welcome collectors of all levels to visit our Manhattan gallery to browse our collection and ask questions. My wife, Kozet, and I are always happy to provide insight and share our knowledge with visitors."

About Hagop Manoyan

If you can't make it to New York to see Manoyan's collection first hand, you will have a chance to meet him in San Francisco this October, and again for the San Francisco Asian and Tribal shows, back-to-back in January and February. You can also check out his online gallery at to see new pieces added each week.

Editors Note: Hagop Manoyan is available for commentary on the antique rug industry, offering general industry overview, with particular expertise in carpet restoration and appraisals.