At last, some good news from Iran: magic carpets

Iran hardly counts as an ‘emerging market’ these days, even for the most adventurous stock-pickers. But there is one Iranian export that appeals to the most sophisticated investors — not oil traders or arms buyers, but those who search for trophies that please the eye as well as making interesting conversational gambits at dinner parties. Have you ever thought of buying a Tabriz?

But what is a Tabriz? And how much do they cost? The word conjures up images of exotic palaces, or perhaps some ceramic marvel. But those who know will thrill at the thought of a Tabriz because it is currently the most sought-after property in the market for the true carpet collector.

Tabriz is the dominant city of north-west Iran and has been a centre of the Persian carpet trade for hundreds, perhaps thousands, of years. Tabriz carpets date from the 15th century right up to the present day, and with their signature fine weave they are well known as some of the best rugs made in Iran.